New mortgage insurance unit spin-off is added to AIG’s current goals

AIG Insurance company CEO - Building in Manhattan

American International Group has made the decision to look into a spin-off of that branch of its business. American International Group (AIG) is now in the midst of the pursuit of a spin-off of its existing mortgage insurance business, according to several reports based on sources who are familiar with the matter. This new strategy from the insurance company could come at precisely the time that goes up against Carl Icahn. Despite the attempts that the company is seeking to make to spin-off its mortgage insurance business – which made…

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Luxury home mortgage insurance is being offered by fewer players

Luxury home mortgage insurance

The CMHC has announced that it will no longer be offering coverage for these high end properties. Among the recent cuts that the Canada Mortgage and Housing Corp has been making, and that have been toping insurance news headlines in the country, is one of the latest that includes the elimination of luxury home mortgage insurance products. The properties that will no longer be covered will be those that cost $1 million or more. The CMHC has stated that as of July 31, it will no longer be providing luxury…

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Mortgage insurance no longer offered to condo developers by CMHC

life insurance industry canada

The Canada Mortgage and Housing Corp. has announced that this coverage will no longer be available. A recent statement from the Canada Mortgage and Housing Corporation (CMHC) has revealed that the organization will no longer be providing mortgage insurance to condo developers in order to assist in financing new building construction. This doesn’t come as very much of a surprise to many in the insurance industry. The reason that many are simply shrugging their shoulders at the decision by the Crown corporation is that it hasn’t actually offered any of…

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Mortgage insurance market moves toward private sector away from CMHC

mortgage insurance canada

The Canadian Mortgage and Housing Corp. appears to be losing its grasp on this space. For many years, the Canada Mortgage and Housing Corporation (CMHC), a Crown corporation, has held a considerable dominance over the mortgage insurance market in the country, but that situation appears to be changing. Its rivals in the private sector are now taking a greater hold on the market and is scooping up a bigger share. During the first quarter of 2014, the CMHC provided mortgage insurance for 27,869 housing units for borrowers whose down payment…

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Mortgage insurance to be underwritten less often by CMHC

mortgage insurance canada

This federal housing agency in Canada has made the announcements as added restrictions are made. Canada’s federal housing authority has now officially announced that it will be underwriting a smaller amount of mortgage insurance, as of this year, as the government has increased the restrictions that apply to the type of coverage that is available. This move is designed to help to maintain the current healthy level of the Canadian housing market. The Canada Mortgage and Housing Corporation (CMHC) first made this announcement on Monday. As was already reported by…

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Mortgage insurance availability tightens in Canada

life insurance industry canada

The country’s housing agency has now restricted access even further to help to ease the price dropping trend. The housing agency in Canada has now taken yet another step to tighten the mortgage insurance availability in the country in an effort to lower the risks that are associated with the striking drop in prices. From May 30 and onward, new regulations will be put into place regarding eligibility for the coverage. The Canada Mortgage & Housing Corporation (CMHC) has released a statement from Ottawa, the country’s capital, that showed that…

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Mortgage insurance risk advice offered by Canadian watchdog

Mortgage Insurance News

The financial regulator in Canada has come up with a guideline draft for mitigating insurers risks. Canada’s financial regulator has now come up with a draft for certain mortgage insurance company guidelines that could help to decrease the risk that is currently present within the housing market. Analysts have cautioned that it could make it slightly harder for borrowers to obtain a home loan. The guidelines were created by the Office of the Superintendent of Financial Institutions (OSFI), and they would apply to that country’s three major mortgage insurance companies:…

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