text: How ironic that the big banks are willing to grant credit to  mortgage lenders who hold mortgages  that the banks turned away in the first place. Those mortgages were once deemed an unacceptable credit risk by the banks. It seems they are now willing to accept that risk. Although we have been led to believe the Canadian banking system is immune to the risks of the subprime mortgage market, the big banks offer of a credit facility to Home Capital shows that they are very much exposed to the associated risk.