July 2021

CMHC relaxes underwriting criteria

Ottawa, July 5, 2021 In July 2020, in response to the economic uncertainty driven by the COVID-19 pandemic, CMHC unilaterally implemented temporary changes to its underwriting practices for mortgage loan insurance. It believed, at that time, these changes would protect homebuyers, reduce government and taxpayer risk and support the stability of housing markets while curtailing…

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