Saturday, September 24, 2016

$17 BILLION LOSS IF CANADA HAS HOUSING CRASH

Canada’s top financial regulator is beefing up capital requirements for mortgage insurers to make sure they are adequately accounting for the creditworthiness of borrowers and fast-rising real estate markets.  In his June report, Mercer estimated that a housing crash in Canada could result in combined losses of more than $17 billion for Canadian banks and mortgage insurers.
 

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