CMHC tightening up

CMHC is pulling back the reins on numerous products, especially rental, self-empoyed / stated income mortgages. This is partly due to OSFI’s guidelines, and partly due to CMHC’s $600B insurance limit. As of September 30, 2011, CHMC disclosed that it had $541B of insurance in force.

This news must give their competitor, Genworth, room for growth.

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