![](https://i0.wp.com/feelgoodrealestate.ca/wp-content/uploads/2020/06/Genworth-and-Canada-Guaranty-Wont-Adopt-CMHCs-New-Mortgage-Rules.xxoh3876f509b5e0793b73c7fc669e2a4f10oe5F0D43F9.jpeg?fit=427%2C427&ssl=1)
Similarly, Canada Guaranty said it “confirms that no changes to underwriting policy are contemplated as a result of recent industry announcements.”
Genworth and Canada Guaranty Won’t Adopt CMHC’s New Mortgage Rules
“We acknowledge the potential ‘pro-cyclical’ negative impacts on housing markets of CMHC’s decision to tighten underwriting,” CMHC CEO Evan Siddall wrote on Twitter in response to criticism. “However, the benefits of preventing over-borrowing far exceed these costs. Not acting also expos…