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Bad policies grow for CMHC

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Mortgage Broker News | 29 Aug 2012, 09:00 AM Agree 0
CMHC's bottom line is showing the effects of an uncertain economy, with Q2 profit taking a corresponding beating.
  • Guy Lew | 30 Aug 2012, 04:03 AM Agree 0
    A few months ago we were trying to save this one particular family from a Power of Sale, TD Bank wanted to take the house anyways because it was CMHC insured. We tried to tell them we were prepared to pay the full market price to protect the value, put the client in a better position and save CMHC from wasting money on trying to collect on any shortfall. At the end the Bank didn't care, this resulted in CMHC losing while they could have gained all around....I find that very disturbing.
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