Quote:
Originally Posted by opendoor
Are most >20% down mortgages insured through the bulk insurance? Like if someone had a mortgage with 50% equity would they need to qualify at the BOC rate?
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Monoline lenders (those that only do mortgages) such as First National, MCAP, Street Capital, to name a few, all bulk-insure their mortgages.
My initial thoughts are that this could be a significant advantage to the big banks (BOOOOOOOO!), as they do not bulk-insure. Will be interesting to see how this plays out over the next few days as lenders react...