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Genworth and Canada Guaranty Mortgage Insurance stay the course

Blog by Diane Cardoso | June 15th, 2020

Two private company's have release press releases regarding insuring mortgages for Buyers that are under 20% downpayment:

Announcement:  TORONTO, June 8, 2020 /CNW/ - Genworth MI Canada Inc. (the "Company") (TSX: MIC) confirms that it has no plans to change its underwriting policy related to debt service ratio limits, minimum credit score and down payment requirements. One of the Company's competitors announced changes to their internal underwriting guidelines with respect to the aforementioned underwriting criteria on June 4, 2020.

Announcement:  June 8, 2020 - Canada Guaranty confirms that no changes to underwriting policy to are contemplated as a result of recent industry announcements.