{"id":1636,"date":"2020-06-15T10:15:00","date_gmt":"2020-06-15T17:15:00","guid":{"rendered":"https:\/\/rodrhearyan.com\/blog\/realtor-mary-hill-rod-and-rhea-hayes-ryan-real-estate-neighbourhood-royal-lepage-sterling-cmhc-covid-insurance-increase-rules-2020-market-change\/"},"modified":"2026-04-08T09:24:30","modified_gmt":"2026-04-08T16:24:30","slug":"realtor-mary-hill-rod-and-rhea-hayes-ryan-real-estate-neighbourhood-royal-lepage-sterling-cmhc-covid-insurance-increase-rules-2020-market-change","status":"publish","type":"post","link":"https:\/\/www.rodrhearyan.com\/blog\/realtor-mary-hill-rod-and-rhea-hayes-ryan-real-estate-neighbourhood-royal-lepage-sterling-cmhc-covid-insurance-increase-rules-2020-market-change\/","title":{"rendered":"CMHC changes effective July 1"},"content":{"rendered":"<p style=\"text-align: center;\">Effective July 1, the following changes will apply for new applications for homeowner transactional and portfolio mortgage insurance:<\/p>\n<ul style=\"text-align: center;\">\n<ul>\n<li>Limiting the Gross\/Total Debt Servicing (GDS\/TDS)&nbsp;ratios to our standard requirements of 35\/42;<\/li>\n<li>Establish minimum credit score of 680 for at least one borrower; and<\/li>\n<li>Non-traditional sources of down payment that increase indebtedness will no longer be treated as equity for insurance purposes.<\/li>\n<\/ul>\n<\/ul>\n<p style=\"text-align: center;\">To further manage the risk to our insurance business, and ultimately taxpayers, during this uncertain time, we have also suspended refinancing for multi-unit mortgage insurance except when the funds are used for repairs or reinvestment in housing. Consultations have begun on the repositioning of our multi-unit mortgage insurance products&#8230;<\/p>\n<p style=\"text-align: center;\">&nbsp;<\/p>\n<h4 style=\"text-align: center;\"><a href=\"https:\/\/www.cmhc-schl.gc.ca\/en\/media-newsroom\/news-releases\/2020\/cmhc-reviews-underwriting-criteria?utm_medium=email&amp;utm_source=underwriting-criteria-changes&amp;utm_campaign=covid&amp;utm_content=english\">For More Information: CLICK HERE<\/a><\/h4>\n<p style=\"text-align: center;\">&nbsp;<\/p>\n<p style=\"text-align: center;\">&nbsp;<\/p>\n<p style=\"text-align: center;\">&nbsp;<\/p>\n<p style=\"text-align: center;\">&nbsp;<\/p>\n<p style=\"text-align: center;\">&nbsp;<\/p>\n<p style=\"text-align: center;\">&nbsp;<\/p>\n<p style=\"text-align: center;\">&nbsp;<\/p>\n<p style=\"text-align: center;\">&nbsp;<\/p>\n<p style=\"text-align: center;\">&nbsp;<\/p>\n<p style=\"text-align: center;\">&nbsp;<\/p>\n<p style=\"text-align: center;\">&nbsp;<\/p>\n<p style=\"text-align: center;\">&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Effective July 1, the following changes will apply for new applications for homeowner transactional and portfolio mortgage insurance: Limiting the Gross\/Total Debt Servicing (GDS\/TDS)&nbsp;ratios to our &hellip;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-1636","post","type-post","status-publish","format-standard","hentry","category-leisure"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/1636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/comments?post=1636"}],"version-history":[{"count":1,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/1636\/revisions"}],"predecessor-version":[{"id":3344,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/1636\/revisions\/3344"}],"wp:attachment":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media?parent=1636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/categories?post=1636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/tags?post=1636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}