As of the 4th quarter, 19% of Countrywide Financial’s subprime borrowers have missed one or more mortgage payments. Countrywide Financial is America’s biggest mortgage lender. Source: Financial Post
Quote of the week from the Ottawa Citizen: “The Americanization of the Canadian mortgage market. That’s what’s going on,” says Tony Humble of Northwood Mortgage Limited. “…now you are seeing a flood of American insurers and lenders who are looking at Canada as basically virgin territory.”
CMT is proud to participate in the 2nd Canadian Tour of Personal Finance Blogs hosted by the Money Diva. The event kicks off May 7, 2007.
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