Mortgage Lending Landscape
|
|
- Simon Moore
- 5 years ago
- Views:
Transcription
1 Mortgage Lending Landscape Be in the know Patrick Gibbon National Manager, Business Relationships PMA Economic Summit September 27, 2012
2 Mortgage Lending Landscape Be in the Know Agenda 1. What are the most recent changes? 2. Why the changes? 3. Implications of the change 4. History of mortgage regulation changes 5. Impact of historic changes 6. What does this mean for You! 2
3 Most recent change: On June 21, 2012, the Department of Finance announced important changes to High Ratio Insured Mortgages; changes took effect July 9, 2012 and include: Reduced maximum amortization period from 30 to 25 years Reduced maximum Loan-to-Value (LTV) for refinance transactions from 85% to 80% Purchase price must be less than $1 million Tightened gross debt & total debt ratio calculations (39% & 44% respectively) 3
4 What has changed cont d On the same day, the Office of the Superintendent of Financial Institutions (OSFI) provided an interim update on Draft Guideline B-20 Residential Mortgage Underwriting Practices and Procedures. These include: Background & credit history of borrower Income Verification Down Payment Verification Debt Service Coverage Appraisal Process & Collateral Management Loan-to-Value (LTV) Ratio restriction on Home Equity Line of Credit (Heloc) 4
5 Why the Changes Ongoing concerns surrounding high household indebtedness Ensure long term stability of Canadian housing market - Fears of an over heated Canadian housing market Promote savings through Home Ownership & help them be debt free faster Reinforce the importance of borrowing responsibly Help curb Canadian households from getting over extended Reduce the numbers of Canadian households vulnerable to economic shock and interest rate increases Hold true to the intended purpose for High Ratio Mortgage Insurance 5
6 Implications Curb Household Debt Levels Effort to curb the relentless rise in the household debt-to-income ratio (currently over 150%) tighter mortgage insurance rules have shaved an estimated 2-3 percentage points from household credit growth in the past 5 years According to CMHC, 2011 LTV restrictions on refinancing made the largest impact on the number of mortgages they insured in new mortgage recouped by end of 2011 only refinance activity remained depressed Household debt growth decreases to a pace more in line with income bucking a 5 year trend Material impact to homeowners with excessive unsecured debt Increase personal investment requirement for investors or renovators 6
7 Implications Potentially reduced affordability & borrowing capacity Reduced amortization will have material impact to a borrower s capacity roughly equal to a 9% decrease in buying capacity According to Canadian Association of Mortgage Professionals, 27% of total mortgages outstanding in 2011 has an amortization of between 25 to 30 years. Compared to 8% between 30 to 35 years and only 6% with amortization greater than 40 years Material change to how much house a client can buy (considerations :save longer, buy smaller) Table 1. Impact of Allowable Amortization on Mortgage Payments and Borrowing Capacity Mortgage Assumptions Average Household Income ($) 75,000 Available Down Payment ($) 50,000 5-year Fixed Interest Rate (%) 3.80 Other Household debts ($) 0.00 Annual Property Tax & Heat 4,960 Amortization Period 30 Years 25 Years Pre-qualified Purchase Price $391,758 $357,950 Equivalent Decrease in Buying Capacity (%) 9.0 Illustration purpose only Calculated by TD Canada Trust 7
8 Implications: Potentially reduced affordability & borrowing capacity cont d Maximum amortization reduction from 30 to 25 years translates to an interest rate impact to be 0.9 percentage points or about $140 per month on an average priced home Qualifying at 5 year benchmark rate will similarly decrease buying capacity (considerations: customers chose longer more stable mortgage terms and stay in homes longer to build equity Forces home buyers to consider their affordability both in the short term & long term consider future interest rate increase and build in a cushion 8
9 History of Mortgage Regulation Changes 9
10 What does this mean for You? Mortgage lending changes will continue stay informed First time & repeat buyers are confused count on you for information & clarity Take control of the home buyer and be more hands on in the process offer more personalized service and facilitate the full transaction Qualify your buyer income, down payment, credit Help manage buyer s expectations right from the beginning protect your pipeline 10
11 Thank You
Financial Stability and the Mortgage Market: Canada s Policy Framework. Allan Crawford, Bank of Canada
Financial Stability and the Mortgage Market: Canada s Policy Framework Allan Crawford, Bank of Canada This paper was presented at Housing, Stability and the Macroeconomy: International Perspectives conference,
More informationBorrowing on Home Equity
ABCs of Mortgages Series Borrowing on Home Equity Smart mortgage decisions start here Table of Contents Overview 1 What are the different options? 2 1. Refinancing 3 2. Borrowing amounts you prepaid 4
More informationCanadian Real Estate Market and Home Ownership
Canadian Real Estate Market and Home Ownership House of Commons Standing Committee on Finance Québec Federation of Real Estate Boards January 2017 Table of Contents INTRODUCTION... 3 SUMMARY... 3 THE NEW
More informationSound residential mortgage underwriting in a changing environment
Sound residential mortgage underwriting in a changing environment Remarks by Jeremy Rudin Superintendent Office of the Superintendent of Financial Institutions Canada (OSFI) to the 2016 Mortgage Professionals
More informationQuarterly Financial Report
Quarterly Financial Report SECOND QUARTER June 30, 207 (Unaudited) Management s Discussion and Analysis Table of Contents MANAGEMENT S DISCUSSION AND ANALYSIS... 3 THE OPERATING ENVIRONMENT AND OUTLOOK
More informationMORTGAGE LOAN INSURANCE CMHC PURCHASE
MORTGAGE LOAN INSURANCE CMHC PURCHASE Helping make dreams of homeownership come true CMHC Purchase can help open the doors to homeownership by enabling homebuyers to buy a home with a minimum down payment
More informationBridgewater Bank Regulatory Disclosures June 30, 2014
Bridgewater Bank Regulatory Disclosures June 30, 2014 This document was prepared to fulfill regulatory requirements of the Office of the Superintendent of Financial Institutions Canada. Public disclosure
More informationAntrim Balanced Mortgage Fund Ltd. Portfolio Size Surpasses $500M / Maintaining Status as Canada s Largest Private MIC
Siddharth Rajeev, B.Tech, MBA, CFA November 6, 2018 Antrim Balanced Mortgage Fund Ltd. Portfolio Size Surpasses $500M / Maintaining Status as Canada s Largest Private MIC Sector/Industry: Real Estate Mortgages
More informationBridgewater Bank Regulatory Disclosures March 31, 2015
Bridgewater Bank Regulatory Disclosures March 31, 2015 This document was prepared to fulfill regulatory requirements of the Office of the Superintendent of Financial Institutions Canada. Public disclosure
More informationBridgewater Bank Regulatory Disclosures March 31, 2016
Bridgewater Bank Regulatory Disclosures March 31, 2016 This document was prepared to fulfill regulatory requirements of the Office of the Superintendent of Financial Institutions Canada. Public disclosure
More informationSpecial Feature 2011 broker sentiment poll
62 survey says 63 CMP presents our third cross-canada broker sentiment poll to gauge what s on brokers minds. Some of the results may surprise, while others simply confirm what brokers already know The
More informationCANADA MORTGAGE AND HOUSING CORPORATION FIRST QUARTER
CANADA MORTGAGE AND HOUSING CORPORATION FIRST QUARTER For over 65 years, Canada Mortgage and Housing Corporation (CMHC) has been Canada s national housing agency. Established as a federal Crown corporation
More informationBridgewater Bank Regulatory Disclosures December 31, 2017
Bridgewater Bank Regulatory Disclosures December 31, 2017 This document was prepared to fulfill regulatory requirements of the Office of the Superintendent of Financial Institutions Canada. Public disclosure
More informationBulletin NUMBER: TO: Freddie Mac Sellers November 15, 2011
Bulletin NUMBER: 2011-22 TO: Freddie Mac Sellers November 15, 2011 INTRODUCTION On October 24, 2011 the Federal Housing Finance Agency (FHFA), together with Freddie Mac and Fannie Mae, issued a press release
More informationBridgewater Bank Regulatory Disclosures March 31, 2017
Bridgewater Bank Regulatory Disclosures March 31, 2017 This document was prepared to fulfill regulatory requirements of the Office of the Superintendent of Financial Institutions Canada. Public disclosure
More informationResidential Mortgage. Underwriting Policy. Sound Business & Financial Practices
Residential Mortgage 2019 Underwriting Policy Three Point Capital Corp. ( TPC ) has published this Residential Mortgage Underwriting Policy ( TPC Policy ), which was adapted from and based on the November
More informationCenovus Energy Inc. Select Interim and Annual Carve-out Consolidated Financial Information (unaudited)
Select Interim and Annual Carve-out Consolidated Financial Information (unaudited) For the Interim and Annual Periods Ended 2009 and 2008 (Canadian Dollars) Consolidated Statement of Earnings and Comprehensive
More informationCanada s Rudest Awakening May Come From Debt Saddled Consumers
Canada s Rudest Awakening May Come From Debt Saddled Consumers June 27, 2018 by Ed Devlin, Michael Kim, Vinayak Seshasayee of PIMCO SUMMARY Our baseline expectation of a recession in the U.S. over our
More informationInvestor Presentation
Investor Presentation 1 FORWARD LOOKING STATEMENTS Certain statements in this presentation may contain forward looking statements that involve known and unknown risks, uncertainties and other factors that
More informationOCC Guidance on Higher Loan to Value Lending in Communities Targeted for Revitalization. Housing Works Conference Raleigh, NC October 25, 2017
OCC Guidance on Higher Loan to Value Lending in Communities Targeted for Revitalization Housing Works Conference Raleigh, NC October 25, 2017 Supervisory Loan-to-Value Limits for Residential Loans SLTV
More informationCommunity Trust Company Basel III Pillar 3 Disclosures June 30, 2018
Community Trust Company Basel III Pillar 3 Disclosures June 30, 2018 Basel III Pillar 3 Disclosures Page 1 of 17 Contents Part 1 - Scope of Application... 3 Basis of preparation... 3 Significant subsidiaries...
More informationManagement s Discussion and Analysis
Management s Discussion and Analysis For the year ended December 31, 2013 As of December 31, 2013 The fourth quarter and full year results and prior-period comparative results for Genworth MI Canada Inc.
More informationCommunity Trust Company Basel III Pillar 3 Disclosures December 31, 2017
Community Trust Company Basel III Pillar 3 Disclosures December 31, 2017 Basel III Pillar 3 Disclosures Page 1 of 18 Contents Part 1 - Scope of Application... 3 Basis of preparation... 3 Significant subsidiaries...
More informationCMI Mortgage Investment Corporation Residential Mortgages in ON Current Yield of 8.75% p.a. Sector/Industry: Real Estate Mortgages.
Siddharth Rajeev, B.Tech, MBA, CFA March 23, 2018 CMI Mortgage Investment Corporation Residential Mortgages in ON Current Yield of 8.75% p.a. Sector/Industry: Real Estate Mortgages www.cmimic.ca Highlights
More informationDon t Raise the Federal Debt Ceiling, Torpedo the U.S. Housing Market
Don t Raise the Federal Debt Ceiling, Torpedo the U.S. Housing Market Failure to Act Would Have Serious Consequences for Housing Just as the Market Is Showing Signs of Recovery Christian E. Weller May
More informationHousing Finance in the Aftermath of the Crisis
Housing Finance in the Aftermath of the Crisis Dr. Michael Lea San Diego State University Presentation to the Homer Hoyt Institute May 16-17, 2014 Outline of Presentation Causes of the US Mortgage Market
More informationCaLGaRy S EConomiC EdGE
CaLGaRy S EConomiC EdGE CREB 2012 calgary housing market forecast update August 15, 2012 www.creb.com CREB 300 Manning Road NE Calgary, Alberta T2E 8K4, Canada Phone: 403.263.0530 Fax: 403.218.3688 Email:
More informationReal Estate Finance in a Canadian Context BUSI 221 Review Lecture
Real Estate Division Real Estate Finance in a Canadian Context BUSI 221 Review Lecture Sharon Gulbranson Topics Comments on Project 2 Format of exam General exam tips Key topics and multiple choice questions
More informationCommunity Trust Company Basel III Pillar 3 Disclosures March 31, 2017
Community Trust Company Basel III Pillar 3 Disclosures March 31, 2017 Basel III Pillar 3 Disclosures Page 1 of 18 Contents Part 1 - Scope of Application... 3 Basis of preparation... 3 Significant subsidiaries...
More informationPACE Program Management. John Maslowski Vice President, Market Development
PACE Program Management John Maslowski Vice President, Market Development The Power of PACE 2 The Power of PACE A Lawrence Berkley National Laboratory (LBNL) report released in 2016 titled, Energy Efficiency
More informationResidential Mortgage Loans Report Completion Guide
Residential Mortgage Loans Report Completion Guide BC Credit Unions Revised November 2017 www.fic.gov.bc.ca Table of Contents GENERAL INSTRUCTIONS... 1 Purpose... 1 Frequency & Reporting Dates... 1 Application...
More informationMore on Mortgages. Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved.
More on Mortgages McGraw-Hill/Irwin Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Oldest form Any standard home mortgage loan not insured by FHA or guaranteed by Department of
More informationFINANCIAL HIGHLIGHTS ($ thousands except per share and percentage amounts)
INTERIM MANAGEMENT DISCUSSION & ANALYSIS For the quarter ended September 30, 2012 FINANCIAL HIGHLIGHTS ($ thousands except per share and percentage amounts) Three months ended September 30 Nine months
More informationMortgage Loan Insurance Business Supplement
CANADA MORTGAGE AND HOUSING CORPORATION Mortgage Loan Insurance Business Supplement FIRST QUARTER March 31, 2015 To supplement CMHC s unaudited Quarterly Consolidated financial statements, which are prepared
More informationRegulatory Disclosures March 31, 2018
Regulatory Disclosures March 31, 2018 SCOPE of DISCLOSURE... 3 CORPORATE PROFILE... 3 CAPITAL... 3 Capital structure... 4 Common shares... 4 Subordinated debt... 4 RISK MANAGEMENT... 4 Risk management
More informationFNMA and FHLMC Refinance Guidelines
FNMA and FHLMC Refinance Guidelines Lesson Summary Why refinance? There are lots of reasons that your borrower might want to refinance, but most people fit into one (or more) of four basic categories.
More informationAnnual State of the Residential Mortgage Market in Canada. Prepared by Will Dunning, Chief Economist
Annual State of the Residential Mortgage Market in Canada Prepared by Will Dunning, Chief Economist November 2017 Table of Contents 1.0 Executive Summary 5 Overview of this Report 5 Seven Mortgage Policy
More informationConfidence in the Canadian Mortgage Market
Confidence in the Canadian Mortgage Market May 2012 Prepared for: Canadian Association of Accredited Mortgage Professionals By: Will Dunning CAAMP Chief Economist Confidence in the Canadian Mortgage Market
More informationUnderstanding Mortgages
Part 1: Your Loan s Interest Rate and APR Part 2: Your Decision to Pay or Not Pay Points Part 3: Your Loan s Prepayment Penalty A loan s interest rate and its APR (annual percentage rate) are not the same.
More informationConsultation Paper. FSB Principles for Sound Residential Mortgage. Underwriting Practices
Consultation Paper FSB Principles for Sound Residential Mortgage Underwriting Practices 26 October 2011 Table of Contents Page Definitions... i I. Introduction... 1 II. Principles... 2 1. Effective verification
More informationCANADA 3.3 CANADA. By Hiren Lalloo, RBC Capital Markets I. FRAMEWORK
CANADA 3.3 CANADA By Hiren Lalloo, RBC Capital Markets I. FRAMEWORK There is no dedicated legal framework for the issuance of Covered Bonds in Canada. As such, Canadian Covered Bonds are based on contractual
More informationThe Impact of a Housing Market Correction on Ontario s Fiscal Position
The Impact of a Housing Market Correction on Ontario s Fiscal Position Key Points The FAO is forecasting a moderate increase in Ontario house prices in 2017 followed by slightly lower prices over the next
More informationR E G U L A T O R Y D I S C L O S U R E S F O R T H E T H R E E A N D N I N E M O N T H S E N D E D S E P T E M B E R 3 0,
S U P P L E M E N T A L I N F O R M A T I O N A N D R E G U L A T O R Y D I S C L O S U R E S F O R T H E T H R E E A N D N I N E M O N T H S E N D E D S E P T E M B E R 3 0, 2 0 1 8 2 0 1 8 TSX.EQB EQB.PR.C
More informationMoney Well Banked. For the three and six months ended June 30, 2017
Q2 Supplemental Information and Regulatory Disclosures On August 11,, the Company updated tables 13, 16, 17, and 21 to correct for data discrepancies reported in its Q2 Supplemental Information and Regulatory
More informationCORRESPONDENT LENDING ANNOUNCEMENT
CORRESPONDENT LENDING ANNOUNCEMENT AIG Correspondent Lending Guideline Update Summary April 12, 2018 The following is a summary of the updates to AIG Correspondent Lending s Seller s Guide, Conforming
More informationCredit Unions and Caisses Populaires SECTOR OUTLOOK 4Q17 February 2018
In This Issue Summary Results... 1 Sector Financial Highlights... 7 Sector Financial Statements... 8 Selected Performance Trends... 10 The information presented in this report has been prepared using the
More informationS U P P L E M E N T A L I N F O R M A T I O N R E G U L A T O R Y D I S C L O S U R E S
S U P P L E M E N T A L I N F O R M A T I O N A N D R E G U L A T O R Y D I S C L O S U R E S F O R T H E T H R E E A N D S I X M O N T H S E N D E D J U N E 3 0, 2 0 1 8 2 0 1 8 SECOND QUARTER SUPPLEMENTAL
More informationWritten Submission for the Pre-Budget Consultations in Advance of the 2019 Budget. By: Mortgage Professionals Canada
Written Submission for the Pre-Budget Consultations in Advance of the 2019 Budget By: Mortgage Professionals Canada List of Recommendations 1. That the government implement an exemption to the Guideline
More informationQuarterly Financial Report
Quarterly Financial Report THIRD QUARTER September 30, 207 (Unaudited) Management s Discussion and Analysis TABLE OF CONTENTS MANAGEMENT S DISCUSSION AND ANALYSIS... 3 OVERVIEW... 3 THE OPERATING ENVIRONMENT
More informationEconomic Opportunity: Making Housing Affordable and Helping Small Business
Backgrounder Economic Opportunity: Making Housing Affordable and Helping Small Business Background Squeezed by the increasing cost of living, high income taxes, sluggish wage growth and stubbornly high
More informationImplementation of New Government Guarantee Parameters (1-4 Unit Properties)
For Distribution to Mortgage Professionals Implementation of New Government Guarantee Parameters (1-4 Unit Properties) Operational Questions and Answers November 30, 2016* General 1. What happens if an
More informationFOURTH QUARTER 2017 SUPPLEMENTAL INFORMATION AND REGULATORY DISCLOSURES. Table of Contents
FOURTH QUARTER SUPPLEMENTAL INFORMATION AND REGULATORY DISCLOSURES Table of Contents Page Page Notes to Readers 3 Regulatory and voluntary mortgage portfolio disclosures Table 13: Mortgage principal outstanding
More informationQuarterly Financial Report
Canada Mortgage and Housing Corporation Quarterly Financial Report First Quarter March 31, 2016 (Unaudited) Management s Discussion and Analysis Table of Contents MANAGEMENT S DISCUSSION AND ANALYSIS...
More informationFixed-rate mortgage better for first-timers
Story Tools Font size: Photo visibility: Hide All Show Top Only Show All Fixed-rate mortgage better for first-timers Arrangement takes the uncertainty out of repayment By Michael Sasges, Vancouver SunJanuary
More informationBridge to HUD Loan Platform Multifamily Acquisition/Refinance
Multifamily Acquisition/Refinance Underwriting Term Amortization Maximum LTV Acquisition or refinance (including cash-out) because of timing challenges associated with going directly to HUD, including
More informationSupplementary Financial Information Third Quarter 2017 November 14, 2017
Supplementary Financial Information Third Quarter 2017 November 14, 2017 Table of Contents Page Page 3 Notes to Users Credit Quality 19 Gross amount of impaired loans by product 4 Financial Highlights
More information2010 Mortgage Consumer Survey
2010 Mortgage Consumer Survey CANADA MORTGAGE AND HOUSING CORPORATION Key findings from the 2010 survey The Internet, an important tool for mortgage consumers First-time buyers get informed on mortgage
More informationSupplementary Financial Information Second Quarter 2018 August 13, 2018
August 13, 2018 Table of Contents Page Page 3 Notes to Users Credit Quality 19 Gross amount of impaired loans by product 4 Financial Highlights 19 Net amount of impaired loans by product 20 Change in allowance
More informationS U P P L E M E N T A L I N F O R M A T I O N R E G U L A T O R Y D I S C L O S U R E S
S U P P L E M E N T A L I N F O R M A T I O N A N D R E G U L A T O R Y D I S C L O S U R E S F O R T H E T H R E E M O N T H S E N D E D M A R C H 3 1, 2 0 1 8 2 0 1 8 FIRST QUARTER SUPPLEMENTAL INFORMATION
More informationHOUSING OBSERVER. An Examination of Household Indebtedness. Article 2 March 2016
HOUSING OBSERVER 2016 Article 2 March 2016 Table of Contents 1 Overview of Canadians financial health....4 2 Changes in household borrowing....7 3 Looking ahead: implications of the changing composition
More information1-Unit properties, including condominiums and units in Planned Unit Developments o No Manufactured Homes
OVERVIEW HomeOne mortgage, a new conventional (non-fha) 3% down payment option for qualified first-time homebuyers. HomeOne mortgage broadly serves borrowers without geographic or income restrictions.
More informationCANADA MORTGAGE AND HOUSING CORPORATION
Introduction The QFR presents the financial results for the quarter ended June 30, 2016 as well as year to date results for 2016. In support of the QFR results, we continue to provide additional data through
More informationFuture Energy Planning and Financing
Future Energy Planning and Financing October 19, 2018 David Spackman Agenda 1.Why now? 2.Financial Stability 3.Assessing needs 4.Developing Strategies 5.Investing resources 6.Creating solutions 7. Wind
More informationYOUR MORTGAGE PLANNING GUIDE. Richard Kaufman
YOUR MORTGAGE PLANNING GUIDE Compliments of Richard Kaufman TABLE OF CONTENTS This mortgage planning guide will take you through 4 easy steps to OBTAIN a MORTGAGE. 1 2 34 STEP 1 CONNECT 04 ABOUT MY SERVICES
More informationFIRST QUARTER 2015 SUPPLEMENTAL INFORMATION AND REGULATORY DISCLOSURES
FIRST QUARTER 2015 SUPPLEMENTAL INFORMATION AND REGULATORY DISCLOSURES FIRST QUARTER 2015 SUPPLEMENTAL INFORMATION AND REGULATORY DISCLOSURES FIRST QUARTER 2015 SUPPLEMENTAL INFORMATION AND REGULATORY
More informationChapter 23: Maximum Loan Amounts and LTV, TLTV and HTLTV Ratios
May 2, 2008 Guide Bulletin Chapter 23: Maximum Loan Amounts and LTV, TLTV and HTLTV Ratios 23.5: Maximum financing (05/02/08) Financing to the maximum loan-to value (LTV) ratio, as set forth in Section
More informationDiscussion Paper on Posted Mortgage Interest Rates, Which Are Published by the Bank of Canada
Discussion Paper on Posted Mortgage Interest Rates, Which Are Published by the Bank of Canada Prepared by Will Dunning, Chief Economist January 2018 Introduction The Bank of Canada publishes data on interest
More informationCITY OF TUSTIN TUSTIN HOUSING AUTHORITY AFFORDABLE HOUSING OWNERSHIP PROGRAMS FACT SHEET (BUYER)
CITY OF TUSTIN TUSTIN HOUSING AUTHORITY AFFORDABLE HOUSING OWNERSHIP PROGRAMS FACT SHEET (BUYER) GENERAL PURPOSE The purpose of this document is to provide the prospective homeowner with a summary of the
More informationBulletin NUMBER: TO: All Freddie Mac Sellers and Servicers April 16, 2009
Bulletin NUMBER: 2009-9 TO: All Freddie Mac Sellers and Servicers April 16, 2009 SUBJECTS This Single-Family Seller/Servicer Guide ( Guide ) Bulletin provides complete requirements regarding the increased
More informationFinancing Residential Real Estate. Conventional Financing
Financing Residential Real Estate Lesson 10: Conventional Financing Introduction In this lesson we will cover: conforming and nonconforming loans, characteristics of a conventional loan, qualifying standards
More informationFinancing Residential Real Estate. Lesson 11: FHA-Insured Loans
Financing Residential Real Estate Lesson 11: FHA-Insured Loans Introduction In this lesson we will cover: FHA loan programs, rules for FHA loans (including those governing maximum loan amounts, the minimum
More informationFHA Loans. First mortgage loans. Jumbo mortgage loans. Non-warrantable Condo Projects
FHA Loans Looking to buy a home or refinance with a low down payment? A loan backed by the Federal Housing Administration (FHA) may be the answer. At Northstar Funding, we understand the challenges facing
More informationAlberta s Economic Outlook Chief Economist Katherine White Presented April 2012 Exclusively to the Members of REIN
Alberta s Economic Outlook Alberta s Economic Outlook Katherine White Chief Economist Government of Alberta April 3, 2012 1) Global Economy 2) Canadian Economy 3) Alberta Economy 4) Alberta s Housing Market
More informationPrintable Lesson Materials
Printable Lesson Materials Print these materials as a study guide These printable materials allow you to study away from your computer, which many students find beneficial. These materials consist of two
More information2012 Mortgage Consumer Survey
2012 Mortgage Consumer Survey Everything you need to open new doors Key Findings from the 2012 Mortgage Consumer survey Consumers are looking more to the Internet for mortgage information and use of social
More informationAll You Need to Know About Private Mortgage Lending
All You Need to Know About Private Mortgage Lending Private lending is a strategy that is often missed by investors when it comes to growing or diversifying their portfolios. In this multipart series,
More informationBridge to HUD Loan Platform Multifamily Acquisition/Refinance
Multifamily Acquisition/Refinance Underwriting Term Amortization Maximum LTV Acquisition or refinance (including cash-out) because of timing challenges associated with going directly to HUD, including
More informationReal Estate Investment Guidelines Overview Buy and Hold rules. David Wright
Real Estate Investment Guidelines Overview Buy and Hold rules Financing Fannie Mae Residential (traditional fixed Rate mortgages terms can be from 8-30 years) Commercial (terms vary) Bank Portfolio Residential
More information6/18/2015. Residential Mortgage Types and Borrower Decisions. Role of the secondary market Mortgage types:
Residential Mortgage Types and Borrower Decisions Role of the secondary market Mortgage types: Conventional mortgages FHA mortgages VA mortgages Home equity Loans Other Role of mortgage insurance Mortgage
More informationSquire Mortgage Investment Corporation
Squire Mortgage Investment Corporation Retirement Enjoy Life Canadian Real Estate: Long-term Steady Growth Stock market volatility World Economy Unstable Growing population and economy = continuous housing
More informationTestimony of Dr. Michael J. Lea Director The Corky McMillin Center for Real Estate San Diego State University
Testimony of Dr. Michael J. Lea Director The Corky McMillin Center for Real Estate San Diego State University To the Senate Banking, Housing and Urban Affairs Subcommittee on Security and International
More informationFINC 2400 PERSONAL FINANCE SPRING 2018 CHAPTER 7. Part 1: ABOUT LOANS AND LOAN TYPES
FINC 2400 PERSONAL FINANCE SPRING 2018 CHAPTER 7 Part 1: ABOUT LOANS AND LOAN TYPES Sven Thommesen 2018 1 THE ESSENCE OF CREDIT The lender provides you with a sum of money today: the loan. You promise
More informationQuarterly Financial Report
Canada Mortgage and Housing Corporation Quarterly Financial Report Second Quarter June 30, 2016 (Unaudited) Management s Discussion and Analysis Table of Contents MANAGEMENT S DISCUSSION AND ANALYSIS...
More information1-12 STREAMLINE REFINANCES.
Cash-out refinances for debt consolidation represent considerable risk, especially if the borrowers have not had an attendant increase in income. Such transactions must be carefully evaluated. 1-12 STREAMLINE
More informationOBSERVATION. TD Economics OUTLOOK FOR CANADIAN RENOVATION SPENDING: BUILT ON STURDY FOUNDATION
OBSERVATION TD Economics OUTLOOK FOR CANADIAN RENOVATION SPENDING: BUILT ON STURDY FOUNDATION Highlights Despite some recent ups and downs, home renovation spending has surged at an annual average rate
More informationAnswers to Questions: Chapter 5
Answers to Questions: Chapter 5 1. Figure 5-1 on page 123 shows that the output gaps fell by about the same amounts in Japan and Europe as it did in the United States from 2007-09. This is evidence that
More information$31,038. $8,500 June 18. June 12
HISTORIC RETURNS* Growth of $10,000 since July 2003 $35,000 $30,000 $25,000 $31,038 Fund Performance Series C (PERCENT RETURN) SINCE 1YR 3YRS 5YRS 10YRS INCEPTION 6.78% 6.73% 6.77% 8.10% Target Asset Allocation
More informationOriginating FHA-Insured Forward Mortgages in Major Disaster Areas October 12, 2017
Originating FHA-Insured Forward Mortgages in Major Disaster Areas October 12, 2017 This presentation was recorded on October 12, 2017. The information contained in this presentation, while instructional
More informationHomePath Program Guidelines
The following guidelines apply to all DIRECTORS MORTGAGE s HomePath loan programs. All loans must adhere to the criteria of these guidelines. This guide addresses the specific areas needed to facilitate
More informationFor the Year Ended October 31, Investor Relations Department. For further information contact: Kelly Milroy or David Lambie
SUPPLEMENTAL FINANCIAL INFORMATION (Released on January 26, 2012 for the adoption of International Financial Reporting Standards and changes in Segment Reporting) For the Year Ended October 31, 2011 Investor
More informationBRIDGE ATTAINABLE HOUSING SOCIETY. Financial Statements. Year Ended November 30, 2013
BRIDGE ATTAINABLE HOUSING SOCIETY Financial Statements Year Ended November 30, 2013 Index to the Financial Statements Year Ended November 30, 2013 Page INDEPENDENT AUDITOR'S REPORT 1 FINANCIAL STATEMENTS
More informationNATIONAL BANK OF CANADA
NATIONAL BANK OF CANADA Fixed Income Presentation As of April 30, 2018 CAUTION REGARDING FORWARD-LOOKING STATEMENTS From time to time, the Bank makes written and oral forward-looking statements, such as
More informationBASEL III PILLAR 3 DISCLOSURES. June 30, 2015
BASEL III PILLAR 3 DISCLOSURES Table of Contents 2 Table 1. Scope of application (the Bank) is a federally regulated Schedule I bank, incorporated and domiciled in Canada. The Bank s main business is to
More informationFIRST QUARTER REPORT 2016 MCAN MORTGAGE CORPORATION
FIRST QUARTER REPORT 2016 MCAN MORTGAGE CORPORATION DESCRIPTION OF BUSINESS MCAN Mortgage Corporation ( MCAN ) is a public company listed on the Toronto Stock Exchange ( TSX ) under the symbol MKP and
More informationPOST-CRISIS GLOBAL FINANCIAL REGULATORY CHANGES - NORTH AMERICA AND EUROPE
Appendix 1 Legislation Governing Body 165 & 171 POST-CRISIS GLOBAL FINANCIAL REGULATORY CHANGES - NORTH AMERICA AND EUROPE FDIC, FRS, Date 1-Jan-18 Description U.S. bank holding companies which have at
More informationBASEL III PILLAR 3 DISCLOSURES. December 31, 2013
BASEL III PILLAR 3 DISCLOSURES Table of Contents 2 Table 1. Scope of application (the Bank) is a federally regulated Schedule I bank, incorporated and domiciled in Canada. The Bank s main business is to
More informationConventional Financing
Financing Residential Real Estate Lesson 10: Conventional Financing Introduction In this lesson we will cover: conforming and nonconforming loans, characteristics of conventional loans, qualifying standards
More informationExpanding Homeownership Responsibly with Freddie Mac Home Possible. February 2017
Expanding Homeownership Responsibly with Freddie Mac Home Possible February 2017 Presenter Dennis J. Smith Joined Freddie Mac in September 2015 as Affordable Lending Manager Works with lenders, nonprofits
More informationMortgage Planning Questionnaire
Mortgage Planning Questionnaire Email: Home: Cell: Birthday: Current Address: 1. How would you like us to stay in contact with you? (Check all that apply) email phone fax mail cell phone 2. Is this a financing
More informationDevelopment from Inside Out The Making of National Housing. Finance Policy
Development from Inside Out The Making of National Housing Introduction Finance Policy Housing a country s population is an extremely difficult, yet extremely important function, impacting the quality
More information