Genworth Is Not Changing Its Underwriting Policy

In the wake of a recent announcement from the Canada Mortgage and Housing Corporation (CMHC) regarding tightening the rules to qualify for an insured mortgage effective July 1, Genworth Canada has announced that it has no plans to change its underwriting policy related to debt service ratio limits, minimum credit score and down payment requirements.

Genworth is the largest private sector residential mortgage insurer in Canada. The CMHC changes are specific to CMHC, and private insurers are not compelled to follow its lead. To review the complete details of Genworth's announcement, please click here.