Mortgage Jake

Phew!

In a release today, OSFI has said that it will rely on the banks and lenders to assess how they will look at renewals, and that clients track record of repayment should be the key factor vs re-qualifying fully.

See the release here:

http://www.osfi-bsif.gc.ca/app/DocRepository/1/eng/notices/osfi/b20_nlet_e.pdf

This is a huge relief to those in the industry and many thanks to CAAMP and IMBA for their hard work in this regard.

Carry on then!