CREA submission on proposed mortgage regulations

Linked here is a copy of CREA’s submission on Guideline B-20 Residential Mortgage Insurance Underwriting Practices and Procedures.
 
CREA remains concerned that changes to housing finance rules are being driven by the realities of specific geographic markets and may have collateral damage to the balance of the housing market. Potentially introducing additional tightening measures while the housing market is still absorbing numerous government imposed changes over the last several years puts affordability at risk and could imbalance many local markets. We encourage boards and associations to participate in the public consultation to share your comments in support of the real estate industry. The deadline for submission is Thursday, August 17, 2017.