Lender Updates

2024 | Updates

February 5, 2024: Underwriting Policy Enhancements

2023 | Updates

October 20, 2023: Clarification: Transactionally Insured Mortgage Loans
October 12, 2023: Maple Leaf Advantage | Guideline Enhancements
August 23, 2023: Homeowners Impacted by Wildfires in Canada
July 25, 2023: Homeowners Impacted by Flooding in Nova Scotia
July 24, 2023: Insurance In Force (IIF) Reporting
June 9, 2023: Homeowners Impacted by Wildfires Across Canada
May 30, 2023: Homeowners Impacted by Nova Scotia Wildfires
May 9, 2023: Homeowners Impacted by Alberta Wildfires

2022 | Updates

Nov 24, 2022: Support for Homeowners Impacted by Rising Interest Rates
Sept 27, 2022: Default management tools for borrowers dealing with the effects of Hurricane Fiona
Sept 1, 2022: Update on Default Management Tools to Support Borrowers
July 19, 2022: A Message from Canada’s Mortgage Insurers | Clarification on Minimum Qualifying Rate for Variable Rate Mortgages

2021 | Updates

November 23: Default management tools for borrowers dealing with the effects of flooding in British Columbia
July 6, 2021: Homeowners Affected by Wildfires in British Columbia
May 27, 2021: New Minimum Qualifying Rate
Mar 4, 2021: Treatment of Variable Income Sources for Qualifying Income
Feb 17, 2021: Reporting of Loans in Arrears: Effective Date for the New Standardized Arrears Reporting Template

2020 | Updates

Aug 12, 2020: A Message from Canada’s Mortgage Insurers | Default Management Playbook – Questions and Answers
Jul 22, 2020: COVID-19: Homeowner Mortgage Relief Options (1 to 4 units)
Jun 29, 2020: Legal Action and Collections to Resume on Insured Mortgages
Jun 8, 2020: Underwriting Policy Clarification
May 21, 2020: Manitoba to Eliminate 7% Retail Sales Tax (RST) on Mortgage Default Insurance Premiums – Effective July 1, 2020
Apr 30, 2020: Homeowners Affected by Severe Flooding
Mar 24, 2020: COVID-19: Impacts to Income Verification
Mar 22, 2020: A Message from Canada’s Mortgage Insurers to Our Mortgage Lending Partners
Mar 19, 2020: Additional Support for Homeowners Impacted by COVID
Mar 12, 2020: New Benchmark Qualifying Rate for Insured Mortgages – Effective April 6, 2020

2019 | Updates

Oct 21, 2019: Homeowners Affected by Saskatchewan Labour Strike
Sep 11, 2019: Homeowners Affected by Hurricane Dorian
Jul 19, 2019: Treatment of Unsecured Revolving Credit Included in TDSR
Apr 25, 2019: Homeowners Affected by Severe Flooding
Apr 23 2019: Manitoba Provincial Sales Tax Reduced to 7% (from 8%) – Effective July 1, 2019
Apr 16, 2019: New Portability Feature Added to Low Ratio Insured Mortgages
Mar 29, 2019: Canada Guaranty Supports Government of Canada’s New First-Time Home Buyer Incentive
Mar 12, 2019: Commitment to Insure Policy Increased from 24 Months to 36 Months for New Construction Homes

2018 | Updates

Oct 22, 2018: PEI Down Payment Assistance Program – Effective October 9, 2018
Sep 24, 2018: Homeowners Affected by the Tornado in the Ottawa-Gatineau Area
Aug 24, 2018: Canada Guaranty Data Sharing with Statistics Canada (Eng only)
May 4, 2018: Homeowners Affected by Severe Flooding
Apr 30, 2018: Low-Ratio Mortgage Insurance Clarification: Borrower-Initiated Switches