31 January 2012

Another wave of concerns about lending rules changes – Banks already have started tightening for self-employed

Breaking News: We just got update from one of the major mortgage player –
FirstLine CIBC Mortgages that starting tomorrow it will no longer
accept Stated Income programs! First victims of such decision will be
self-employed borrower as well as new and non-residents who have
difficulties to confirm income with their Notice of Assessment. Looks
like rest of Big Banks will follow the suit!
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