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Brokers brace for new CMHC boss

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Mortgage Broker News | 26 Apr 2012, 09:00 AM Agree 0
Getting CMHC to approve deals may soon be tougher, with the introduction of a new bill handing ultimate control for government-backed mortgage insurance to an increasingly strict OSFI.
  • Terry | 27 Apr 2012, 06:14 AM Agree 0
    Oh, as I have noticed, they already have pulled back the reigns; so no suprrise. For heaven sakes, MLS listed property, CMHC comes back to say they give value 5K less than listing price; change lenders, request deal go to Genworth, and no big deal, stamp of approval!!!! And, the client was high credit score and ratios very low.
  • A Broker | 27 Apr 2012, 12:19 PM Agree 0
    The sooner they turn that damn AVM off & have real appraisers inspect all properties they insure, the sooner stability & credibility will return to the market place....& the sooner the fraudulent (boost & flip frauds) will stop
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