Through our mortgage broker channel, our lenders also have access to two other mortgage default insurers that have not yet increased their insurance premiums but will likely follow suit soon. (loanbox.ca)
In its guideline on Residential Mortgage Underwriting Practices and Procedures, the Office of the Superintendent of Financial Institutions (OFSI) recommends that mortgage default insurers not underwrite loans that use cash back for a down payment. (insureye.com)
For instance, Mortgage Default Insurance (there are three mortgage default insurers in Canada — CMHC, Genworth, and Canada Guaranty) is solely for the lender and not to be confused as mortgage default insurance for the consumer. (dominionlending.ca)