CMT Team·General·April 19, 2007Subprime a US-only Problem Bob Ord, CEO of Mortgage Architects, reaffirms in this Toronto Sun article that Canada should be immune from the subprime fiasco hammering our neighbours to the south. For one thing, Canadian lenders are “paid for the deficiency on sale, and can pursue wage garnishees.” 50% of Canadian mortgage defaults therefore end up “curing” themselves. That’s not to mention the fact that Canadian mortgage delinquencies are currently about 3%, versus 14% in the U.S. (according to the story). Like news like this?Join our CMT Updates list and get the latest news as it happens. Unsubscribe anytime. SUBSCRIBE! Thank you for subscribing. One more step: Please confirm your subscription via the email sent to you.