2 These Regulations apply to every housing loan that is not insured under a contract of insurance that the Corporation and an approved lender entered into before the coming into force of these Regulations.
9 (1) A high ratio loan is to be governed by these Regulations as they read on October 16, 2016 if, on any day before October 17, 2016,
[...]
(2) A low ratio loan is to be governed by these Regulations as they read on October 16, 2016
(2) For greater certainty, if an insured housing loan is modified to both replace its security with a new eligible residential property and increase its outstanding balance, the increased portion is to be considered, for the purposes of these Regulations, as a new loan approved on the day on which the increase is approved, which must meet the criteria that apply on that day for the Corporation to be able to provide insurance against risks relating to it.
(3) If any other modification is made to an insured housing loan that requires the payment of an additional housing loan insurance premium, the loan is to be considered, for the purposes of these Regulations, as a new loan approved on the day on which the modification is approved, which must meet the criteria that apply on that day for the Corporation to be able to provide insurance against risks relating to it. Any modification that does not require the payment of an additional housing loan insurance premium does not affect the Corporation’s ability to provide insurance.
1 (1) The following definitions apply in these Regulations.
(3) For the purposes of these Regulations, the principal amount of a loan does not include any housing loan insurance premiums.
