TORONTO - Shares in mortgage lender Home Capital Group Inc. (TSX:HCG) were up more than 10 per cent a day after it said it has suspended its relationships with 45 mortgage brokers over allegations they falsified information about borrowers' incomes.

The stock, which has been beat down in recent weeks, was up $3.54 or 12.5 per cent at $31.94 in trading on the Toronto Stock Exchange on Thursday morning.

Out of the 45 brokers that the company has cut ties with, 18 were independent brokers while the remainder came from two separate brokerages.

Home Capital provided details about the suspensions and its investigation in a news release after markets closed Wednesday.

The Ontario Securities Commission had requested the information be released.

The company says it is actively monitoring the mortgages in question and that it is unlikely the loans will result in credit losses.