A Balanced Look at Mortgage Penalties

What Is a Mortgage Penalty? The lender offered you a home loan on the expectation of earning a certain amount of interest on the loan. If you break the contract early, they’re losing out on that interest. The mortgage penalty is designed to recoup those losses for the...

New Mortgage Stress Test

  An Overview of the January, 2018 Mortgage Rule Changes The OFSI issued a set of new regulatory changes in October, 2017 that go into effect on the first of January, 2018. Let’s review the regulatory changes that were approved compared to the rules initially...

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