Currently, only 3% ($61.5B) of Canada’s mortgage market is securitized and traded on the open market, with big banks as the main participants. The secondary mortgage market is inaccessible to everyone else. All other mortgage buying and selling happens on a private 1-on-1 basis through relationships with little to no transparency.
Homeslice is building a secondary mortgage marketplace for all qualified lenders and investors, making it easy for them to rebalance portfolios, aggregate mortgages for securitization, create liquidity, and quickly increase lending volumes by acquisition. The goal is to open up the secondary mortgage market to credit unions, mortgage investment corporations (MICs), mortgage investment entities (MIEs), pension & hedge funds, alternative and private debt businesses, family offices and accredited individuals.
The company was founded by William Tang, after Highline Beta spent some time exploring the alternative mortgage lending space. William is an experienced entrepreneur. His last company, in the automotive SaaS & Services industry, grew to 250+ employees. He also has real estate development experience and mortgage financing experience from his tenure with TD Bank. William has the ideal background and network to lead Homeslice.
Homeslice is expected to be live in pilot by October 2023, with mortgage sellers and buyers already signing on.
We’re incredibly excited to work with William on this opportunity. He has the right combination of entrepreneurial and financial experience to tackle a complex space and win.
To learn more, visit https://joinhomeslice.ca.