CMT will have an abbreviated posting schedule until December 12, as our team will be abroad during this time. Thank you for your understanding and have a wonderful day!
from your professional standpoint, do you really believe that things were that different in canada? I live in vancouver and I was repeatedly approved for mortgages that I has no hope in he’ll of making the monthly payments on. People in Canada seem to think Americans had mortgages thrown at them with predatory lending. Examples of homeless people being rounded up and shuffled into banks and handed houses mortgages and cash to make their first couple of payments. Another thing people in banking don’t realize is this financial crises was CAUSED by the banks and the over lending that propped ip asset prices. I’m sure you’ll find I’d you talk to your colleagues out west that mortgages were handed out to almost anyone with a pulse. Only time will tell if that is true but it will finally put an end the statements of higher lending standards in canada. (/rant)
Although this has nothing to do with the publishing schedule,This is More in response with the statements made by dignan.
I do believe from a professional standpoint that the lending guidelines, (even when it comes to private financing) here in Canada have always been more conservative than our American Counterparts…
That being said I do recall a time where a majority of subprime lenders (a majority of whom had american or internationally based parent companies..) were in the market for what now appears to be a relatively short period of time.
mind you I am basing this on my experience living in Onario, Dignan Obviously has a different opinion…
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