Genworth Financial Mortgage Insurance Company Canada
Registration:
20
of
23
(2020-08-31
to
2020-12-15)
Legislative Proposal, Bill or Resolution
- Risk Sharing - Department of Finance led consultation regarding the introduction of a deductible or shared risk structure between regulated insurers and lenders.
Policies or Program
- Canada Mortgage Bond Program as it relates to mortgage financing and mortgage insurance
- Consumer measures around mortgage insurance as they may impact the company's business
- Federal government guarantee agreement that backs private mortgage insurers' obligations to lenders in the event of default by the insurer.
- Measures focused on strengthening mortgage underwriting/anti-fraud and consumer protection.
- Non government-backed mortgage insurance
- Potential for offering additional mortgage insurance products outside the government-guarantee
- Submission of Business Proposal to OSFI, and follow up discussions with Department of Finance.
Regulation
- Office of the Superintendent of Financial Institutions Canada and Finance Canada review of a transaction of a North American insurer by a foreign, privately-held corporation. Regulations regarding the approval process.