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New mortgage lending guidelines raise concerns
VANCOUVER ` Some real-estate industry insiders have concerns about new mortgage lending guidelines coming in this year, documents released by the Office of the Superintendent of Financial Institutions Canada reveal.
OSFI asked for comments on the new guidelines from banks, real-estate appraisers, mortgage insurers and mortgage brokers earlier this year. Based on the comments received, OSFI backed off on two ideas that were initially proposed ` a requirement for home equity lines of credit to be amortized and a requirement that people requalify when they renew their mortgage.
Read the full article here.
VANCOUVER ` Some real-estate industry insiders have concerns about new mortgage lending guidelines coming in this year, documents released by the Office of the Superintendent of Financial Institutions Canada reveal.
OSFI asked for comments on the new guidelines from banks, real-estate appraisers, mortgage insurers and mortgage brokers earlier this year. Based on the comments received, OSFI backed off on two ideas that were initially proposed ` a requirement for home equity lines of credit to be amortized and a requirement that people requalify when they renew their mortgage.
Read the full article here.