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[LENDER UPDATE] Low-Ratio Mortgage Insurance Clarification: Borrower-Initiated Switches

As a follow-up to Canada Guaranty’s Lender Update regarding “Low-Ratio Mortgage Insurance Eligibility Requirements” effective November 30, 2016 (last updated Dec. 1, 2016), we would like to provide additional clarity regarding the insurability of previously refinanced loans (i.e., loans with any increase to the outstanding balance or an extended amortization), when the borrower switches a prior uninsured loan from one Approved Lender to another at arm’s length.

Please take a moment to review the attached Lender Update.

Should you have any questions, please do not hesitate to contact me or a member of our team.

Mary Putnam AMP
Vice President, Sales and Marketing
Canada Guaranty Mortgage Insurance Company

Telephone 416.640.8936 
Toll Free 866.414.9109 ext. 8936 

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