Cartman Morgagesmortgagelending asearcht Park asearch Morgagesmortgagelending 
0searchssearcha%D6%D0%B9%FA%B8%DF%D6%D0%C9%FA%BD%CC%CA%D2%C0%EF%B6%D1%C2%FA%CA%E9%BF%CE%D7%C0%C9%CF%B2%DDcsearchasearchPwww.789ii.comrsearch Www 1a Www C Www r Park msearchn Tag M South r Cartman a Morgagesmortgagelending e Park m Morgagesmortgagelending r Park g South g Www l%BF%AA%D1%A7%BF%DA%BA%C5n Cartman i South g Cartman A mortgage executive at a major bank (who requested anonymity) wrote to us today saying:
“Mortgage policy decisions are being made that may lead to the very outcomes that we are trying to avoid.”
He’s referencing the potential rule tightening and new mortgage liquidity constraints that are making headlines.
Both of those factors could raise the cost of mortgages and adversely impact homebuyer demand. These are risks, he says, that could cause a natural housing correction to snowball into something worse.
There’s a growing air of uncertainty in the mortgage industry, one we haven’t sensed since the tail end of the credit crunch.
Regulators, media and politicians are waving the caution flag on housing and mortgages, and the foundation of our market (CMHC) is suggesting they’re running out of insurance room.
This has much of the industry in a risk minimization (“risk-off”) mode. In turn, mortgages that are not insurable, income-qualified and owner-occupied are now attracting more scrutiny.
Here’s what we’re hearing…
Continue reading "“Risk-Off” in the Canadian Mortgage Market" »
Company: A Canadian Financial Services Company
Position Title: Mortgage Underwriter
Years of Experience Required: 5 years experience in the residential mortgage industry, particularly broker origination
Licences or Registrations Required: No
Location of Position: Toronto, Ontario
Applicants may contact: resume@baystreethr.com
Click on the position title above for more information.
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Many have now seen this National Post article.
The gist of it: CMHC is approaching its $600 billion government-imposed limit on issuing mortgage default insurance. That’s happening largely because of lenders’ enormous appetite for something called portfolio insurance (a.k.a., “bulk insurance”).
No one fully grasps the repercussions yet, but our sense is that the news is not great (at least in the short-to-medium term) for mortgage consumers, smaller lenders and brokers.
On the other hand, it may be healthy long-term for the housing market. Here’s why…
Continue reading "CMHC Insurance Limits: A Wake-up Call for Lenders" »