CMHC restricts levels of new guarantees for mortgage lenders

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OTTAWA – Canada Mortgage and Housing Corp. is limiting guarantees it offers banks and other lenders on mortgage-backed securities.

CMHC has notified banks, credit unions and other mortgage lenders that they will each be restricted to a maximum of $350-million of new guarantees this month under its National Housing Act Mortgage-Backed Securities (NHA MBS) program.

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