Wednesday, September 16, 2009
MORTGAGE INSURANCE IN CANADA - Product
Single up-front premium (between 0.5% and 3.75%
according to LTV). Typically added to the loan.
Universal access everywhere in Canada for same kind of
terms and conditions, for any kind of housing. Different for
private competitor.
More than 95% underwritten by EMILI
Mortgage Insurance Fund: operated on commercial and
actuarial basis, no cost to government. In line with risk
exposure and General Insurance Regulations
200 approved lenders: 6 dominant lenders
according to LTV). Typically added to the loan.
Universal access everywhere in Canada for same kind of
terms and conditions, for any kind of housing. Different for
private competitor.
More than 95% underwritten by EMILI
Mortgage Insurance Fund: operated on commercial and
actuarial basis, no cost to government. In line with risk
exposure and General Insurance Regulations
200 approved lenders: 6 dominant lenders
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