Mortgage, Money and Dream – Our thoughts on Canadian Mortgage Market
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CMHC new premium for high risk loans

When a borrower offers to put no down payment at all (zero down) to purchase a home and to get a mortgage loan – is considered as a high risk borrower. People offering 5% are not exactly like the ones who have no money at all but […]

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CMHC and Genworth to raise mortgage default insurance premium

85% loan to value premium changes

Canada Housing and Mortgage Corporation (CMHC) has announced that it will raise the mortgage default insurance premium it charges the borrowers with small down payments (normally 5% to 20%). If you buy a home after May 1st and do not have more than 20% down payment then […]

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Will mortgage default insurance premium go up?

CMHC - Total Insurance In Force - Q3-2013 ($ billion)

CMHC covers the lenders at the expenses of the borrowers. If you are at the borrowing end of the stick then the pain is yours. In order to own a home -if you do not have enough money –  your mortgage has to be secured against any […]

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Genworth Canada announces lower First Quarter income

Compared to the last quarter (Q4-2012) most of the number are in red for Genworth. While comparing to Q1-2012 – that shows some happy signs but that was a year ago. Now things are not looking bright except lower default claims. Some interesting notes from its Quarterly […]

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What happens when lenders collude with insurers?

If you thought that the house prices only go up due to low interest rate and high demand then it is time to revise that understanding.  In United Stated now they have another factor – known as Kickback Factor. “Illegal kickbacks distort markets and can inflate the […]

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Why people do not default their mortgage payments?

If you think about a person who is defaulting his mortgage payment – then probably job loss will come to your mind – as a cause. Sure enough when a lender tries to sell you the mortgage protection insurance then they tell you that it protects you […]

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Genworth Financial Mortgage Insurance Company Canada – Q2 Earnings

Source

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Some Nitty-Gritties of Mortgage Default Insurance

We already know that when you are going to buy a property using a mortgaged loan with less than 20% down payment, then you have to pay an insurance premium. We also know that these all default insurance is done just to get you the best (Prime) […]

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Mortgage Default – How mortgage insurers can help

Things can go wrong in a perfectly planned program. Our life is more complex than just a program, therefore there are chances that a day may come when a borrower may have difficulty to pay mortgage installment. Failure to make a mortgage payment without prior arrangement with […]

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Mortgage Default Insurers – what they offer and how they compare

Selecting a mortgage default insurer becomes easy for my clients if they are aware of the products offered by each. Every insurer has their targeted niche in the industry. Although CMHC has the lions share in this industry – Genworth and Canada Guaranty (formally known as AIG […]

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