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 Small lenders, brokers decry Ottawa’s lame mortgage plan

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Small lenders, brokers decry Ottawa’s lame mortgage plan Vide
PostSubject: Small lenders, brokers decry Ottawa’s lame mortgage plan    Small lenders, brokers decry Ottawa’s lame mortgage plan Icon_minitimeTue Apr 02, 2013 1:01 am
Ottawa’s plan to clamp down on mortgage securitization will make it harder for smaller lenders to compete with big banks, increasing their costs – and potentially raising mortgage rates, players in the sector say.

Small lenders, brokers decry Ottawa’s lame mortgage plan Flaherty



Non-bank lenders and mortgage brokers have told Ottawa they are worried about the plan, which was first outlined in the federal budget less than two weeks ago. They fear the proposed changes will limit competition, distort mortgage rates, and throw a wrench in the recovery of the asset-backed commercial paper (ABCP) market.

http://www.theglobeandmail.com/report-on-business/small-lenders-brokers-decry-ottawas-mortgage-plan/article10645572/
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