Canada Guaranty Mortgage Insurance Benefits

Archive for 2013

Canada Guaranty Mortgage Insurance Solutions Now Available through MCAP

TORONTO, ON (November 25, 2013) – Canada Guaranty announced today that their mortgage default insurance products are now available through MCAP. Through this partnership, mortgage professionals will have access to even more options to better assist their borrowers when purchasing or refinancing a home.

“This partnership represents an opportunity for MCAP to further support our growing client base,” said Paul Bruce, Managing Director, Single Family Origination at MCAP. “The addition of Canada Guaranty to MCAP’s mortgage insurance partners reinforces our desire to realize the benefits of increased competition and our commitment to highlighting the important role private mortgage insurers represent to our industry.”

“MCAP has a very long track record of success in the mortgage industry and we are delighted to welcome MCAP to our growing list of national lenders,” said Andy Charles, President and CEO of Canada Guaranty.

Both Canada Guaranty and MCAP are committed to ensuring Canadians continue to benefit from greater access to solutions that meet their diverse homeownership needs. To learn more about the products and services available through Canada Guaranty, please contact your dedicated Account Executive or speak with a member of our National Underwriting Team at 1.877.244.8422.


About Canada Guaranty Mortgage Insurance Company
As the only 100% Canadian-owned private mortgage default insurer, Canada Guaranty Mortgage Insurance Company is backed by the leading financial strength of its ownership group, comprised of the Ontario Teachers’ Pension Plan and National Mortgage Guaranty Holdings Inc. Working with industry partners to promote greater access to sustainable homeownership, Canada Guaranty offers mortgage and lending professionals improved choice through service excellence and a comprehensive suite of mortgage default insurance solutions. With headquarters in Toronto and a growing team providing national coverage, Canada Guaranty remains committed to meeting the diverse needs of homebuyers across the country.

About MCAP
MCAP is one of Canada’s leading independent mortgage financing companies, operating in three lines of business: residential mortgages, commercial mortgages and construction loans. With over 600 professionals in 9 offices and over $40 billion in mortgages under administration, the MCAP Group originates, trades and services residential, construction and commercial assets across Canada.

Canada Guaranty Introduces the Energy-Efficient Advantage Program

Reducing our footprint means taking the right steps toward reducing our energy consumption. Canada Guaranty is rewarding those who purchase energy-efficient homes, or obtain mortgage financing to make energy-efficient home improvements, by providing a 10% refund of the Canada Guaranty mortgage insurance premium.


PROGRAM GUIDELINES

Transaction Types

  • Available on all Canada Guaranty mortgage insurance products.
  • Purchase transactions: New Construction or Existing Home.
  • Purchase or Refinance with improvements for energy-efficiency purposes.

Borrower Qualifications

  • The Canada Guaranty Energy-Efficient Advantage 10% premium refund is eligible for borrowers with mortgage financing that is currently insured by Canada Guaranty and has funded on or after May 1, 2013.  
  • The request for the 10% premium refund must be submitted within one year of the mortgage advance. 
  • All applicable mortgage insurance premiums and fees on the original mortgage must have been received by Canada Guaranty prior to issuing the Energy-Efficient Advantage refund.

DOCUMENTATION REQUIREMENTS


Should you have any questions regarding this new product, please do not hesitate to contact your dedicated Account Executive or speak with a member of our National Underwriting Team at 1.877.244.8422.



Energy-Efficient Advantage

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