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CMHC CEO defends mortgage stress test changes amid calls for loosening rules. "My job is to advise you against this reckless myopia and protect our economy from potentially tragic consequences," wrote president and CEO Evan Siddall in a letter dated Thursday to the Standing Committee on.
and rather than admit errors and change policies, they “dig in," he wrote. “Maybe that’s what’s happening now in the mortgage and real estate file," he said. CMHC maintains its support for the stress.
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CMHC defends mortgage stress test changes amid calls for loosening rules Posted on May 24, 2019 by Hafez Panju The CEO of Canada Mortgage and Housing Corporation is forcefully defending mortgage stress test rules and warning federal policy-makers to hold the line amid calls for softening the measure from industry associations.
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"If we ease the stress test or extend mortgage amortizations, for sure it is increasing debt and it’s going to bump prices higher," he said. "And those aren’t good for the country.