Here's a good start to keep you up to date on the mortgage world...I just saw a post today on Facebook about "CMHC to impose risk fee on CMHC Insurance" and it's implications on homebuyers....
Well, actually there will be NO implications for homebuyers with this new "risk fee"....This will simply be a fee that CMHC will pay to our Goverment to build a slush fund to compensate for potential losses based on the premiums they collect. CMHC is extremely profitable and this is just a bookkeeping move to allocate some monies (approximately $50 million per year) to protect taxpayers like you and me should CMHC incur major losses. CMHC's chief financial officer Brian Naish has said “We certainly don’t expect this to have any impact on the availability or cost of mortgage funding,” which means no increased CMHC fees for you, the homebuyer/homeowner. Whew...
Over the past year I have pretty much ignored my website and spent way too much time posting Morgtage News and other stuff on Facebook...So now that is going to change!
Don't get me wrong, I will still enjoy the interactions with clients & business partners on Facebook, but now my website will hopefully become an integral part of all that correspondence, and it may even get me more involved on...wait for it....Twitter! (I'm still not much of a Tweeter...what the heck is a "#hashtag" anyways...I could probably use some lessons...volunteers?)
So, what should we talk about today? ...Please leave a reply right here, or send me an email, text or just give me a call with any and all things you might like to see discussed here, and I will try my best to keep you...and everyone else informed!
With 27 years of direct mortgage lending experience, first with a major bank, then a local credit union and now as a Mortgage Broker, I have arranged mortgages on almost every type of property imaginable....even a 50+ ft fishing trawler!!