Great post on a mortgage broker forum, as he brings up a good point:
Quote:
|
I may be off the mark here but...is that new program not a conflict? The same entity that owns 5, 10% of your home is also default-insuring your mortgage on it? Say you default, all the way. Is a judge not going to look sideways at CMHC for being on both sides of your balance sheet? An equity redemption clog?
|
followed by...
Quote:
I've been waiting to post anything as there is sooo much unknown to this hot pile of convoluted garbage.
Woops,. I just posted something.
|
