the new rules are not fair to the industry and their professional and fairs only to big banks which will kill industry jobs and kill competition and on the end Canadian consumers loose
N
Nicholas Hamblin
9 years ago
Please watch for National Day of Action in regards to this topic!
S
Sangeeta
9 years ago
We need healthy competition. Canada is a Immigrant country and we depend heavily on Immigration. Government should give a break to 1st time home buyers. the change should be positive and should bring healthy competition. Stop the monopoly. Please revisit the new mortgage rules.
L
Linda Rausch
9 years ago
People that don't know the ins and outs of mortgages shouldn't make decisions on the market market. The Liberal Government has just shut down some of the Major Banks competition with this stupid move. Who is being paid off???
A
Anonymous
9 years ago
I am signing to keeo competition and choice in the market for consumers I believe these changes will eliminate many non balance sheet lenders , reduce choice and increase borrowing costs for all Canadians who hold a mortgage.
T
Tahir Mangatt
9 years ago
This is not fair.
D
Danny Kellman
9 years ago
Monopoly has never been good for a nation. Look at the telecommunication industry.
M
Monica parkin
9 years ago
This will give an unfair trade advantage to the big banks and limit consumer choice.
R
Richard Ventura
9 years ago
Rules and Competition should apply for everyone. Consumers and the mortgage industry are the victims of these Rule Changes. Banks can now charge whatever they want and pass more costs to consumers when it comes to Mortgages! Shame on the Government! Next time consult our mortgage industry, get their feedback and then make a decision. The panel that consulted for the Department of Finance, are all bankers. Our monolines lenders save Billions of dollars in mortgage business for consumers and they provide good quality mortgages for our economy! This change can ultimately kill their business, eliminate jobs and much more. GofC you have popped the balloon on Real Estate and Mortgages!
D
Dorothy Smith
9 years ago
this new rule is unfair to the consumers, self serving for banks and going to hurt the new homebuyers from being able to purchase an affordable home. Govt should be targeting unsecured debts not housing debts.
A
Anonymous
9 years ago
I understand the need for the change but chartered banks should not be given favourable treatment. The same rules should apply to all.
S
Susan Morton
9 years ago
There needs to be more consultation involving all lenders (not just the big banks) considering the impact of these changes to the consumer.
S
Sua Truong
9 years ago
Seems DOF got bullied by the bank lobbiest in making this decision. Instead of having this rule applied to ALL mortgage lenders, they have only targeted the back insured lenders.
M
Marlene Laviolette
9 years ago
Recent regulation changes...most specifically the 3% rule for unsecured debt, 25 year amortization on CMHC insured and maximum 80% Loan to value on a refinance......as well as stricter rules associated with Business for self has already proved to make closing deals much tougher. These new rules will just create additional issues.....the difference between actual rate vs bench mark is TOO large of a spread!!! this is a massive request....terrible idea!
R
Rita Wagner
9 years ago
In agreement with petition.
C
Cole Taylor
9 years ago
This is just too much.
M
Montserrat Gonzalez
9 years ago
Competitions for better rates
R
Robert Charbonneau
9 years ago
Montréal Canada
A
Anonymous
9 years ago
I agree with the comments of this petition.
M
Mary MacInnis
9 years ago
These changes are not a positive move to the mortgage market.
the new rules are not fair to the industry and their professional and fairs only to big banks which will kill industry jobs and kill competition and on the end Canadian consumers loose
Please watch for National Day of Action in regards to this topic!
We need healthy competition. Canada is a Immigrant country and we depend heavily on Immigration. Government should give a break to 1st time home buyers. the change should be positive and should bring healthy competition. Stop the monopoly. Please revisit the new mortgage rules.
People that don't know the ins and outs of mortgages shouldn't make decisions on the market market. The Liberal Government has just shut down some of the Major Banks competition with this stupid move. Who is being paid off???
I am signing to keeo competition and choice in the market for consumers I believe these changes will eliminate many non balance sheet lenders , reduce choice and increase borrowing costs for all Canadians who hold a mortgage.
This is not fair.
Monopoly has never been good for a nation. Look at the telecommunication industry.
This will give an unfair trade advantage to the big banks and limit consumer choice.
Rules and Competition should apply for everyone. Consumers and the mortgage industry are the victims of these Rule Changes. Banks can now charge whatever they want and pass more costs to consumers when it comes to Mortgages! Shame on the Government! Next time consult our mortgage industry, get their feedback and then make a decision. The panel that consulted for the Department of Finance, are all bankers. Our monolines lenders save Billions of dollars in mortgage business for consumers and they provide good quality mortgages for our economy! This change can ultimately kill their business, eliminate jobs and much more. GofC you have popped the balloon on Real Estate and Mortgages!
this new rule is unfair to the consumers, self serving for banks and going to hurt the new homebuyers from being able to purchase an affordable home. Govt should be targeting unsecured debts not housing debts.
I understand the need for the change but chartered banks should not be given favourable treatment. The same rules should apply to all.
There needs to be more consultation involving all lenders (not just the big banks) considering the impact of these changes to the consumer.
Seems DOF got bullied by the bank lobbiest in making this decision. Instead of having this rule applied to ALL mortgage lenders, they have only targeted the back insured lenders.
Recent regulation changes...most specifically the 3% rule for unsecured debt, 25 year amortization on CMHC insured and maximum 80% Loan to value on a refinance......as well as stricter rules associated with Business for self has already proved to make closing deals much tougher. These new rules will just create additional issues.....the difference between actual rate vs bench mark is TOO large of a spread!!! this is a massive request....terrible idea!
In agreement with petition.
This is just too much.
Competitions for better rates
Montréal Canada
I agree with the comments of this petition.
These changes are not a positive move to the mortgage market.