|
Hakkında:
|
The most typical home loan in Canada is the five-year fixed-rate closed mortgage, instead of the U.S. where the most common type is the 30-year fixed-rate open home loan. Throughout the financial crisis and the occurring economic downturn, Canada's mortgage market continued to work well, partly due to the property mortgage market's policy framework, that includes an effective regulatory and supervisory program that uses to most lenders.
In April 2014, the Office of the Superintendent of Financial Institutions (OSFI) released standards for mortgage insurance companies focused on tightening requirements around underwriting and danger management. In a statement, the OSFI has actually mentioned that the standard will "offer clarity about finest practices in respect of domestic mortgage insurance underwriting, which add to a stable financial system." This follows numerous years of federal government scrutiny over the CMHC, with previous Financing Minister Jim Flaherty musing publicly as far back as 2012 about privatizing the Crown corporation.
|