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Wed Feb 1, 2012, 08:48 PM

CMHC curbs mortgage insurance offerings to banks

The federal housing agency is serving notice to banks and other lenders that it is nearing the limit on mortgage insurance it can offer them.

The Canada Mortgage and Housing Corp. said Tuesday it "has recently received an unexpected level of requests for large amounts of CMHC portfolio insurance."

"To ensure equitable access to portfolio insurance within CMHC's annual limits, an allocation process is being established, which has caused some delays."

CMHC said in a release that its notice affects only lenders and will not decrease the availability of its mortgage loan insurance for qualified homebuyers and will not affect the cost of buying a house.

http://www.cbc.ca/news/business/story/2012/01/31/cmhc-mortgage-limit.html
Jan 31, 2012 5:54 PM ET

7 replies, 1341 views

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Arrow 7 replies Author Time Post
Reply CMHC curbs mortgage insurance offerings to banks (Original post)
CHIMO Feb 2012 OP
orpupilofnature57 Feb 2012 #1
CHIMO Feb 2012 #2
orpupilofnature57 Feb 2012 #3
CHIMO Feb 2012 #4
orpupilofnature57 Feb 2012 #7
Joe Shlabotnik Feb 2012 #5
orpupilofnature57 Feb 2012 #6

Response to CHIMO (Original post)

Wed Feb 1, 2012, 08:51 PM

1. Not being able to Hedge ,would have minimized OUR

Fraudulent Lenders with nothing to lose .

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Response to orpupilofnature57 (Reply #1)

Wed Feb 1, 2012, 08:56 PM

2. Your Reply

Baffles me. I don't know what it means. Would you please explain it.
Thanks

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Response to CHIMO (Reply #2)

Wed Feb 1, 2012, 09:05 PM

3. Canada is avoiding ,I mean the Mortgage Bailout 2008

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Response to orpupilofnature57 (Reply #3)

Wed Feb 1, 2012, 10:22 PM

4. Thank You

For replying. But I still do not understand.

CMHC is cutting back on mortgage insurance. CMHC has been thrown around as one of the rocks that our solid economic basis exists on.

It now, all of a sudden, after Harper says we have problems, starts to limit mortgage insurance!

It just might be that the rest of the world in Switzerland is getting even with Harper?

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Response to CHIMO (Reply #4)

Thu Feb 2, 2012, 06:38 AM

7. Very insider of you ,BUT

Insuring mortgage companies so the lenders " Made out " and made off with Theirs no matter what happened to orr with the barrowers, caused the misery we ,the US now enjoy.

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Response to CHIMO (Original post)

Thu Feb 2, 2012, 01:27 AM

5. CMHC has been toughening its entrance requirements since 2008-2009ish

They know that they are on the hook for a massive bubble, and are simply trying to position themselves for the fallout. Don't believe the Harpocracy.... a housing bubble in scale of the USA is heading our way, it's already silently beginning in the suburbs of metro-big city areas.

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Response to Joe Shlabotnik (Reply #5)

Thu Feb 2, 2012, 06:34 AM

6. My point ,thanks for understanding.

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