We need to make sure that these changes look after the best interests of Canadian home owners. Canadians need mortgage options and this reduces their options.
M
Maxine Crawford
9 years ago
These changes are not impacting all mortgage lenders equally and that alone us is unfair. These changes have huge implications for our industry and our economy as a whole. Too much too fast and too unjustly implemented.
K
Kim McKenney
9 years ago
By consulting the participants in this industry who work hard every day to protect their clients' largest asset, the DOF can adjust their guidelines to continue to provide fair lending to all Canadians.
F
fernando perri
9 years ago
Some changes have gone way too far and will invariably harm first time buyers in particular who wanty to enter the market
P
Peter Greco
9 years ago
Providing it is a level playing field, the changes will be protecting our long term housing health.
A
Anne Martin
9 years ago
Protecting our economy and housing industry is important given the direction we seemed to be headed but limiting choices for many mortgage borrowers who may now face disadvantages given many of the policies and procedures of the big 6. Don't they have enough control of the industry and receive enough profit already. We need to save the monolines since without the options they provide, the consumer may suffer greatly.
S
Stan Borenstein
9 years ago
This legislation, if implemented, will damage the residential real estate market significantly. In turn, the Canadian economy will suffer - construction of new housing is a major contributor to the economy and the impact will put the country into recession. If real estate prices are the real target , it would be better to end the practice of "bidding" on sale properties, which has created a false sense of urgency amongst buyers and driven prices to unsustainable levels. Realty sales should be governed by the "first come, first serve" principal, as it was before the realty sales industry created the auction atmosphere and prices started escalating by double digit percentages annually.
P
Pat Dowling
9 years ago
We need to keep the competition for mortgages going strong. We do not want it to be just for 6 Canadian banks.
J
jen
9 years ago
Having choice is a right to all Canadians. Even the middle class....
B
Bob Lucas
9 years ago
It is in the best interests of the people of Canada that Mortgage Brokers have a level playing field with the banks!
F
Floyd Wilson
9 years ago
like taking a hammer to the industry for two cities. plus handing the market to the banks
S
Sebastian Gill
9 years ago
Let's us protect interests of all Canadian irrespective and do not just help the very few who will have their work done by hook or crook.
R
rick goodman
9 years ago
The very people that the government is trying to protect are the people who will suffer from this. Fewer businesses offering their product (mortgage funds) will reduce consumer options and ultimately raise consumer costs.
D
Dennis Ruetz
9 years ago
These rule changes will kill the mono-lines. we can't let this happen!
B
Bryan Gueertin
9 years ago
This change completely disregarded the monoline lenders
who compete with thebanks & keep the rates down
D
Dianne Chafe
9 years ago
These rules are not fair to anyone and in my opinion do not accomplish what it is trying to do. Why don't you ask the Banks to stop giving credit at 19% instead of trying to stop Canadians from owning homes.
H
Herbert Duran
9 years ago
It is obvious that the big banks will benefit with this rule and once they have the monopoly they can control rates for their own benefit. At the end of the day the public, private lenders and all individuals working in the mortgage industry will suffer the consequences of this new rule. I believe competition is extremely important to keep or society on the right direction, you make money, I make money and we keep it in a fair play. Look at how much profits banks are making year after year; we are talking billions of dollars in profits and now the government will serve more money in a golden plate. What kind of government has been elect? (because I didn't vote for this one). What kind of democracy we have? We didn't even know about this rule until the last minute.
As Americans are falling into an unprecedented stupid government, so we are. I am a proud Canadian but very disappointed.
M
Mark Cashin
9 years ago
The new government regulations have created an uneven playing field for lenders ultimately increasing borrowing costs for average hard working Canadian Families.
E
Elizabetg Biderman
9 years ago
I fully support this petition. It is definitely anti-competitive move.
Stop this
We need to make sure that these changes look after the best interests of Canadian home owners. Canadians need mortgage options and this reduces their options.
These changes are not impacting all mortgage lenders equally and that alone us is unfair. These changes have huge implications for our industry and our economy as a whole. Too much too fast and too unjustly implemented.
By consulting the participants in this industry who work hard every day to protect their clients' largest asset, the DOF can adjust their guidelines to continue to provide fair lending to all Canadians.
Some changes have gone way too far and will invariably harm first time buyers in particular who wanty to enter the market
Providing it is a level playing field, the changes will be protecting our long term housing health.
Protecting our economy and housing industry is important given the direction we seemed to be headed but limiting choices for many mortgage borrowers who may now face disadvantages given many of the policies and procedures of the big 6. Don't they have enough control of the industry and receive enough profit already. We need to save the monolines since without the options they provide, the consumer may suffer greatly.
This legislation, if implemented, will damage the residential real estate market significantly. In turn, the Canadian economy will suffer - construction of new housing is a major contributor to the economy and the impact will put the country into recession. If real estate prices are the real target , it would be better to end the practice of "bidding" on sale properties, which has created a false sense of urgency amongst buyers and driven prices to unsustainable levels. Realty sales should be governed by the "first come, first serve" principal, as it was before the realty sales industry created the auction atmosphere and prices started escalating by double digit percentages annually.
We need to keep the competition for mortgages going strong. We do not want it to be just for 6 Canadian banks.
Having choice is a right to all Canadians. Even the middle class....
It is in the best interests of the people of Canada that Mortgage Brokers have a level playing field with the banks!
like taking a hammer to the industry for two cities. plus handing the market to the banks
Let's us protect interests of all Canadian irrespective and do not just help the very few who will have their work done by hook or crook.
The very people that the government is trying to protect are the people who will suffer from this. Fewer businesses offering their product (mortgage funds) will reduce consumer options and ultimately raise consumer costs.
These rule changes will kill the mono-lines. we can't let this happen!
This change completely disregarded the monoline lenders who compete with thebanks & keep the rates down
These rules are not fair to anyone and in my opinion do not accomplish what it is trying to do. Why don't you ask the Banks to stop giving credit at 19% instead of trying to stop Canadians from owning homes.
It is obvious that the big banks will benefit with this rule and once they have the monopoly they can control rates for their own benefit. At the end of the day the public, private lenders and all individuals working in the mortgage industry will suffer the consequences of this new rule. I believe competition is extremely important to keep or society on the right direction, you make money, I make money and we keep it in a fair play. Look at how much profits banks are making year after year; we are talking billions of dollars in profits and now the government will serve more money in a golden plate. What kind of government has been elect? (because I didn't vote for this one). What kind of democracy we have? We didn't even know about this rule until the last minute. As Americans are falling into an unprecedented stupid government, so we are. I am a proud Canadian but very disappointed.
The new government regulations have created an uneven playing field for lenders ultimately increasing borrowing costs for average hard working Canadian Families.
I fully support this petition. It is definitely anti-competitive move.