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Mortgage Broker News | 04 Jan 2018, 08:15 AM Agree 0
James Loewen believes the government has catalyzed the very thing it was trying to prevent with the recent B-20 changes, and the irony isn't lost on him
  • Phil Weir | 04 Jan 2018, 10:22 AM Agree 0
    Private lenders will leave the market for something safer as now there is no easy TAKEOUT Strategy. The major takeout strategy in Toronto and Vancouver was a rising market- you saw private lenders willing to lend 90% - that will be cut way back perhaps to 70 or 75% - Non conforming mortgages are now capped at 65% with NO secondary financing allowed under the new guidelines. The government is out of touch or they are trying to create a collapse.
  • Jim Daltroy | 04 Jan 2018, 08:10 PM Agree 0
    I don't get the comment about people walking away from their houses because they run out of viable options..
    my understanding is that B20 doesn't apply to renewals with the same lender. As long as you simply renew, the guidelines don't apply
    Am I missing something here??
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