5 May 2014
In addition to it, Canada Guaranty has also kept its business for self-employed program without changes.
It means these two private insurers won a few points in competition with the Crown Corp.
Actually, CMHC’s decision to cut business for self-employed programs should be a good lesson for some of the banks: yes, some financial institutions prefer to work only with CMHC, but we think it’s time to support the other two.
Nevertheless, Genworth has introduced one amendment. It concerns vacation and secondary home programs. Starting May 30, 2014, the maximum number of units under the Vacation/Secondary Home Program will be cut from 2 to 1.