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Tag Archives: CMHC

CMHC changes underwriting

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CMHC changes underwriting practices on mortgage loan insurance Canada Mortgage and Housing Corp. is easing its underwriting criteria for mortgage loan insurance after changes it made last year were not effective and caused it to lose market share. The federal housing agency said Monday that it returned to considering a gross debt service ratio of up to 39% and [&hellip…

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Buyers Shun FTHBI

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Homebuyers Shun CMHC’s First-Time Home Buyer Incentive The federal government’s First-Time Home Buyer Incentive (FTHBI) was meant to offer a path to homeownership for those unable to tap the “Bank of Mom and Dad” for down payment assistance. But first-time buyers have largely rejected the equity-sharing program that was first unveiled in September 2019, according to data [&hellip…

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CMHC issues warning over borrowers falling into arrears

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Most homeowners who sought deferrals for mortgages last year have seen their deferral periods end, but the Canada Mortgage and Housing Corp. says the risk of these borrowers falling into arrears could re-emerge. The federal housing agency says in a report that more than 250,000 homeowners with mortgages insured by CMHC sought payment deferrals between last March [&hellip…

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