Comments on: New Mortgage Rules, The Hidden Code

By: Mortgage Rates & Mortgage Broker News in Canada » Canadians Deserve More Answers

Mon, 28 Apr 2014 11:53:26 +0000

[...] Bozic, CAAMP Chair and President/CEO of Merix Financial wrote this about the latest mortgage rule changes: “…Stakeholders have every right to call out [...]

By: To the Point with Bozic || Real Estate & Mortgage Industry: The Margin Battle

Tue, 28 Aug 2012 15:00:52 +0000

[...] New Mortgage Rules: The Hidden Code [...]

By: Layth Matthews

Layth Matthews — Sat, 30 Jun 2012 17:33:24 +0000

It dawned on me whilst complaining mostly about the restrictions on the refi limits is that this is the governments way of forcing people to use less consumer credit. Because they will default on their consumer debt long before their mortgage payment.

Rather than regulating the consumer debt industry – I think more could be done with requiring all consumer lender to offer a term loan workout or something.

That said, this is the wrong time in the economic cycle to be removing consumer’s ability to restructure themselves. Shorter amortizations and a little more constructive advice from government on migrating away from the use of consumer credit is the way I would have handled it. People need models of how to manage their finances and balance their lives not innuendos that everyone lacks discipline. The demographics are already focused on de-leveraging, but it is harder to do that when you can’t restructure. Shorter amortizations would have been enough.

By: the HERM

the HERM — Tue, 26 Jun 2012 17:26:05 +0000

mod·i·cum (md-km)
n. pl. mod·i·cums or mod·i·ca (-k)
A small, moderate, or token amount:

Good one. Word of the day.