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Tuesday, 17 June 2014

CMHC cutbacks are the signs of market turbulence?

CMHC crown corporation’s most recent restructuring raises the question; is the insurer gearing up to leave the market, amidst speculations where the market is heading to reduce tax payers exposure to bad mortgage loans?
News on CMHC discontinuing to provide loan insurance for the financing of multi-unit condo construction, following late-April announcement from the crown corporation that it will no longer insure second homes and self-employed individuals who do not have third party income validation.
CMHC provided stability to the real estate market during the last decades, but now two private insurers Genworth & Canada Guaranty will fill the void of CMHC, can they do that?

You be the judge, observe and learn the latest news from Mortgage.pro the only information highway will always tell you how it is. The facts and the truth are wonderful tools to ready yourselves to the future and determine your moves.