Please reconsider. This is an issue of supply and these new regulations do not address this. It is penalizing first time home buyers and has implications that I do not believe have been thought out.
C
Chris Krasilczuk
9 years ago
In a country where deficit spending is embraced by the current government it is ironic that they have proposed measures that restrict individual Canadians access to loans which they ultimately become responsible for, are insured for and utilize to support their financial future. Overleveraging is bad whether it's a Government or an individual but placing more power in the hands of a few banks will only isolate the consumer further and in the end take money out of the hands of Canadians and place it in the corporate coffers of banks. Banks need no financial help, Canadian citizens do.
A
Anonymous
9 years ago
Competition is a good thing. We CAN NOT allow the Banks to monopolize the Industry. Very sad...
P
Pat Folino
9 years ago
Please keep competition in the Canadian Mortgage Market, it is needed.
J
Joe Potenza
9 years ago
With the diminished competition, and apparent monopoly of the Big 6 Banks, where is the benefit to the Canadian consumer? Mr. Morneau, along with the DOF review the changes and do the Right and Fair thing for the average Canadians.
N
Neil Hamilton
9 years ago
The Canadian mortgage lending industry is a large, diversified, robust facet of the Canadian financial landscape. It offers the Canadian consumer untold numbers of options. Let's keep it that way! To the "Powers That Be", please engage our industry leaders to make the right decisions in amending how our business is done.
D
Dorothy Morton
9 years ago
I agree - please reconsider
D
Dale Bland
9 years ago
Please keep competition in the Canadian Mortgage Market, it is needed.
J
Julie Stevenson
9 years ago
This Petition is vital to maintain options and competitive rates to all Canadians. Please take the time to sign it as well!
D
David H Mair
9 years ago
A very sad day for our industry and the Canadian Consumer when our Government imposes restrictions that disadvantage so many hard working individuals in the Mortgage, Real Estate and related industries. These new rules, will create further hardship for countless Canadians, who last Friday were able to qualify for a Mortgage but by Monday could not. The new guidelines greatly enhance the already lopsided grip on the Mortgage Industry that the Front Six Banks have enjoyed for years while forcing consumers who actually can afford homes, to pay exorbitant amounts of rent, while current home owners will see their equity positions devalued as the move to strip wealth out of the middle class continues. There will soon be only two classes in this country if these policies continue, the Rich and the Working Poor. All done with no industry consultation and no notice. Shame on you Bill Morneau! When you cripple your housing industry you prolong the recession. Clearly, no improvement over the last Federal Government. These new rules are grossly excessive and may address the issues in Toronto and Vancouver, but will be devastating for the rest of the Country. Of course the Banks will be very supportive, which should be a big red flag to the rest of us. The banks didn't elect you. The Canadian Tax payers did. Get your priorities straight.
M
MOhamed Abdulkader
9 years ago
please don't make it harder for me to feed my kids
C
Chad Southwell
9 years ago
Keep Competition in the Canadian Mortgage Market
C
Christine O'Dea
9 years ago
Way too extreme !
M
mark matsumoto
9 years ago
In my opinion, this is bad legislation.
P
Patty Southwell
9 years ago
Keep competition in the Canadian Mortgage Market!
J
Jason decaire
9 years ago
No more
A
Anonymous
9 years ago
Featured
please add removing the need to qualify at 4.64% for low ratio bulk insured programs as this gives an unfair advantage to banks/credit unions who do not need to bulk-insure all their conventional mortgages like the non-bank lenders must do
J
Jeff May
9 years ago
This appears to be our government protecting the interests of big banks and not the consumer. Justin & friends keep your hands off !!
Too harsh.
Please reconsider. This is an issue of supply and these new regulations do not address this. It is penalizing first time home buyers and has implications that I do not believe have been thought out.
In a country where deficit spending is embraced by the current government it is ironic that they have proposed measures that restrict individual Canadians access to loans which they ultimately become responsible for, are insured for and utilize to support their financial future. Overleveraging is bad whether it's a Government or an individual but placing more power in the hands of a few banks will only isolate the consumer further and in the end take money out of the hands of Canadians and place it in the corporate coffers of banks. Banks need no financial help, Canadian citizens do.
Competition is a good thing. We CAN NOT allow the Banks to monopolize the Industry. Very sad...
Please keep competition in the Canadian Mortgage Market, it is needed.
With the diminished competition, and apparent monopoly of the Big 6 Banks, where is the benefit to the Canadian consumer? Mr. Morneau, along with the DOF review the changes and do the Right and Fair thing for the average Canadians.
The Canadian mortgage lending industry is a large, diversified, robust facet of the Canadian financial landscape. It offers the Canadian consumer untold numbers of options. Let's keep it that way! To the "Powers That Be", please engage our industry leaders to make the right decisions in amending how our business is done.
I agree - please reconsider
Please keep competition in the Canadian Mortgage Market, it is needed.
This Petition is vital to maintain options and competitive rates to all Canadians. Please take the time to sign it as well!
A very sad day for our industry and the Canadian Consumer when our Government imposes restrictions that disadvantage so many hard working individuals in the Mortgage, Real Estate and related industries. These new rules, will create further hardship for countless Canadians, who last Friday were able to qualify for a Mortgage but by Monday could not. The new guidelines greatly enhance the already lopsided grip on the Mortgage Industry that the Front Six Banks have enjoyed for years while forcing consumers who actually can afford homes, to pay exorbitant amounts of rent, while current home owners will see their equity positions devalued as the move to strip wealth out of the middle class continues. There will soon be only two classes in this country if these policies continue, the Rich and the Working Poor. All done with no industry consultation and no notice. Shame on you Bill Morneau! When you cripple your housing industry you prolong the recession. Clearly, no improvement over the last Federal Government. These new rules are grossly excessive and may address the issues in Toronto and Vancouver, but will be devastating for the rest of the Country. Of course the Banks will be very supportive, which should be a big red flag to the rest of us. The banks didn't elect you. The Canadian Tax payers did. Get your priorities straight.
please don't make it harder for me to feed my kids
Keep Competition in the Canadian Mortgage Market
Way too extreme !
In my opinion, this is bad legislation.
Keep competition in the Canadian Mortgage Market!
No more
please add removing the need to qualify at 4.64% for low ratio bulk insured programs as this gives an unfair advantage to banks/credit unions who do not need to bulk-insure all their conventional mortgages like the non-bank lenders must do
This appears to be our government protecting the interests of big banks and not the consumer. Justin & friends keep your hands off !!
This is unfair and will cripple non bank lenders.