CMHC has announced its lowest market share to date and it may only be a matter of time before the use of default insurance industry shrinks altogether.
Brokers in one major market are noticing more conservative lending practices among monoline lenders, forcing players to send more deals to the banks.
Brokers can expect to encounter tighter underwriting for mortgage default insurance in this one province.
Canada’s largest private mortgage insurer is watching closely for signs of risk in the Alberta housing market.
Mortgage insurer Genworth MI Canada Inc. has revealed its recorded first-quarter net income of $107.5m CAD.
Another dire prediction from Hilliard MacBeth; another chorus of industry players poking holes in his argument.
The government made a pledge in the federal budget that brokers can’t afford to gloss over, cautions one industry vet, worried about the possibility of higher mortgage rates.
A reference to bulk insurance – and so access to conventional mortgages – was part of the 528-page federal budget tabled Tuesday.
One broker believes clients now putting less than 10 per cent down will be more overleveraged than those who purchased with zero down.
A Genworth report highlighting the financial responsibility of first-time buyers appears to contradict the insurer’s move to increase costs for those buyers.