Quote:
Originally Posted by ranchlandsselling
Doesn't that graph only show purchases though? Not overall equity.
As a result of stringent and prudent underwriting standards, the quality of CMHC’s loan portfolio is strong. As reported in CMHC’s 2010 Annual Report, ( p. 46 of annual report) 58 per cent of CMHC-insured mortgages have outstanding balances with a loan to value ratio less than 80 per cent, based on the original lending value. As reported in CMHC’s third quarter Quarterly Financial Report, if the current value of the properties is considered, more than 73 per cent of these mortgages have loan to value ratios less than 80 per cent.
Additionally, homeowners with outstanding CMHC-insured mortgages had, on average, equity of 45 per cent of the value of their homes. |
I didn't really even spend much time looking, but just reading the MD&A of Fannie's 2006 it seems they thought they had great underwriting standards too.
From Fannie Mae's 2006 Annual Report MD&A:
Quote:
By holding the line on lending standards, we also
maintained the quality of our credit book of business, with
strong risk characteristics relative to most major mortgage
investors. Our single-family mortgages have about 45
percent equity support and strong homeowner credit
(averaging 720 FICO).
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