CMHC curbs mortgage insurance offerings to banks

[CHIMO]

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

[orpupilofnature57]

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

Fraudulent Lenders with nothing to lose .

[CHIMO]

2. Your Reply

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

[orpupilofnature57]

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

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[CHIMO]

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?

[orpupilofnature57]

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.

[Joe Shlabotnik]

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.

[orpupilofnature57]

6. My point ,thanks for understanding.