If federal mortgage announcements leave your head spinning due to ambiguities and omissions, you're not alone. It's a wild dream, but maybe one day, regulators will let mortgage practitioners proofread their communications in advance. Then, edits can be made and mortgage pros will get all the key details they need on the day of the announcement.
We spoke with multiple lenders Friday, and none of them felt overly confident about some of the finer points of OSFI's policy shift. When the lenders themselves are confused, you know we're in for a ride.
On that note, we got more clarifications from the banking regulator and lenders on the new uninsured switch change. Here's the latest...
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