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Eligible Mortgage Loan Regulations

Version of section 8 from 2016-07-01 to 2020-12-21:


Marginal note:Low ratio loans — before October 15, 2008

  •  (1) The criteria set out in paragraphs 6(a) and (b) do not apply to a low ratio loan in respect of which the mortgage insurer received a mortgage or hypothecary insurance application before October 15, 2008 if it meets the requirements of a mortgage or hypothecary loan insurance product that was offered by the mortgage insurer before that date.

  • Marginal note:Low ratio loans — October 15, 2008 to April 17, 2011

    (2) The criterion set out in paragraph 6(a) does not apply to a low ratio loan in respect of which the mortgage insurer received a mortgage or hypothecary insurance application during the period beginning on October 15, 2008 and ending on April 17, 2011.

  • Marginal note:Low ratio loans — before July 1, 2016

    (3) The criterion set out in paragraph 6(d) does not apply to a low ratio loan if the mortgage insurer received a mortgage or hypothecary insurance application in respect of the loan — or in respect of the portfolio of loans to which the loan will belong for insurance purposes — before July 1, 2016, unless the application has been denied or the loan has ceased to be insured under insurance resulting from the application.

  • SOR/2016-9, s. 4
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