HomEquity Bank, a Schedule I Canadian Bank, is a wholly-owned subsidiary of HOMEQ Corporation. HomEquity Bank is the only national provider of reverse mortgages to Canadian seniors and it offers Guaranteed Investment Certificates to Canadian investors. Reverse Mortgages HomEquity Bank originates and administers Canada's largest portfolio of reverse mortgages under the CHIP Home Income Plan brand. HomEquity Bank's predecessor, Canadian Home Income Plan Corporation, has been the main underwriter of reverse mortgages in Canada since pioneering the concept in 1986. The CHIP Home Income Plan is a solution to the financial needs of Canadians seniors (55 years +). It is a type of residential mortgage that permits qualifying homeowners to convert a portion of their home equity into cash on a tax-free basis while remaining in the home.