Broker news forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Brokers brace for new CMHC boss

Notify me of new replies via email
Mortgage Broker News | 26 Apr 2012, 09:00 AM Agree 0
Getting CMHC to approve deals may soon be tougher, with the introduction of a new bill handing ultimate control for government-backed mortgage insurance to an increasingly strict OSFI.
  • Terry | 27 Apr 2012, 06:14 AM Agree 0
    Oh, as I have noticed, they already have pulled back the reigns; so no suprrise. For heaven sakes, MLS listed property, CMHC comes back to say they give value 5K less than listing price; change lenders, request deal go to Genworth, and no big deal, stamp of approval!!!! And, the client was high credit score and ratios very low.
  • A Broker | 27 Apr 2012, 12:19 PM Agree 0
    The sooner they turn that damn AVM off & have real appraisers inspect all properties they insure, the sooner stability & credibility will return to the market place....& the sooner the fraudulent (boost & flip frauds) will stop
Post a reply