Canada’s largest private mortgage insurer is exercising “heightened vigilance” in Western Canada in preparation for a potential rise in delinquencies.
Brokers are already feeling the effects of tighter lending in one major market.
The first to act was an insurer and now at least one major lender has followed suit by announcing it will tighten its lending standards in Alberta due to the effects the faltering oil industry are expected to have on the housing market.
Brokers in one region of the country should expect some difficulty funding high ratio mortgages, after one mortgage default insurer has said it will more closely analyze applications from those clients going forward.
Canada’s largest private mortgage insurer says it is expecting losses from Alberta this year and is increasing its scrutiny of new applications.
One industry professional shared his insight into attaining financing for a type of property that many traditional lenders are shying away from.
Micro condos have been a hot topic in the mortgage industry, with several lenders shying away from these tiny units; but how do the insurers treat them?
A number of mortgage and title insurers signed a letter of intent Friday to formalize their commitment to launching a new industry association.
Recognizing the need for a single tool that provides mortgage professionals on the go with all the information they need to help their clients make sound home-buying decisions, Genworth Canada just released its new app.
Sales dipped in in one market that has long been the driver of rapid growth in August, according to the latest statistics.