Loan Administration, Check Cashing & Other Services in Canada
The industry is largely dependent on the state of the overall economy, which determines how able and willing consumers and businesses are to repay loans. After a brief dip during the recession, a recovery in corporate profit enabled the industry to bounce back slowly. A decreased overnight rate is expected to limit concern for the consumer credit market in the short term, and increase industry revenue over the next five years.
Operators in this industry service loans, most notably mortgages. It does not originate loans, which includes legally arranging and issuing the loan; servicing loans includes performing all of the administrative aspects of the loan. The industry also performs money transmission services, which includes selling and cashing traveller’s cheques, money orders and cashier’s cheques, while also renting safe deposit boxes.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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