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Mortgage Broker News | 04 Apr 2014, 09:22 AM Agree 0
The Canadian Mortgage and Housing Corporation (CMHC) said it would be open to implementing risk-based default insurance and one leading broker believes the move could certainly benefit one type of home buyer.
  • Layth Matthews | 07 Apr 2014, 01:36 PM Agree 0
    Risk based pricing makes good business sense. A colleague told me they already do this to some extent by being more flexible on property values for stronger apps.

    Maybe we will get some competition between the insurers. You can tell the current system is a money grab because the private insurers all charge the same (don't they?) is that regulated?

    Competing insurance premiums would be another factor in a deal. Which lender? which insurer? Right now it is all about qualifying. With competitive risk based pricing it would also be about price of insurance! Another place where a good mortgage broker can add value.
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