Feds Remove Stress Test
November 21st, 2024
Nov 21/24 - Feds Remove Stress Test on Uninsured Mortgage Renewals
In line with CREA's advocacy efforts, as of today Nov 21/24, the Office of the Superintendent of Financial Institutions (OFSI) has eliminated the mortgage stress test for uninsured renewals, enabling borrowers to switch lenders while maintaining their loan amount and amortization period. Insured borrowers are already exempt. ...