Canada to Impose ‘Risk Fee’ on CMHC Mortgage Insurance
This article is for subscribers only.
Canada will impose a “risk fee” starting Jan. 1 on mortgage insurance provided by the country’s housing agency to compensate taxpayers for potential losses in the housing market.
Canada Mortgage & Housing Corp. said the fee to the government will be “3.25 percent of premiums written and 10 basis points on new portfolio insurance written,” according to a financial report today for the three months ended Sept. 30.