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7 Reasons CMHC’s Letter Was a Bad Idea: Viewpoint
Well, you don’t see this every day: The head of Canada’s housing agency seemingly guilting lenders into sending him business and tightening mortgage lending. In a letter to the industry originally leaked to Bloomberg (see below), CMHC CEO Evan Siddall chided and accused mortgage lenders of: short-sightedly sending too much business to CMHC’s competitors creating a “very significant drag” on...