|
Hakkında:
|
The most common mortgage in Canada is the five-year fixed-rate closed home mortgage, instead of the U.S. where the most typical type is the 30-year fixed-rate open home loan. Throughout the financial crisis and the ensuing economic downturn, Canada's home loan market continued to operate well, partly due to the property home mortgage market's policy structure, which consists of an effective regulative and supervisory routine that uses to the majority of loan providers.
In April 2014, the Office of the Superintendent of Financial Institutions (OSFI) launched guidelines for home mortgage insurance coverage companies targeted at tightening standards around underwriting and danger management. In a statement, the OSFI has actually specified that the standard will "offer clearness about finest practices in regard of residential home loan insurance coverage underwriting, which contribute to a steady financial system." This comes after numerous years of federal government scrutiny over the CMHC, with former Financing Minister Jim Flaherty musing publicly as far back as 2012 about privatizing the Crown corporation.
|