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Mortgage Broker News | 20 Aug 2014, 10:34 AM Agree 0
CMHC recently released a breakdown of what percentage of condos in Canada’s two biggest markets are owned by investors but brokers aren’t sold on the methodology used, with many raising questions about how many investors circumvent CMHC rules.
  • Daniel McKay | 20 Aug 2014, 03:52 PM Agree 0
    Not to mention the banks doing all their rental deals as "owner occupied" so that they can get their investor mortgages insured at 80% ltv. Pretty sure 99% of the mortgage industry has ignored the 65% ltv max on insured rentals rule since it existed.
  • Daniel McKay | 20 Aug 2014, 03:53 PM Agree 0
    Correction*: 65% ltv max to escape MI premium, the deals are being done as "owner occupied" to avoid MI premium between 65% - 80% ltv.
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