On June 28, 2006 CMHC was Canada’s first mortgage loan insurer to eliminate homeowner high ratio mortgage insurance application fees, demonstrating our continuing commitment to keep the cost of homeownership affordable for Canadians.

In order to provide sufficient time for Approved Lenders to adapt to this change and perform required system modifications, CMHC allowed for a two month transition period, during which CMHC would continue to charge application fees and subsequently issue refund cheques directly to borrowers. CMHC has consulted with Approved Lenders and most have requested an option to accelerate implementation. We are therefore pleased to announce that for those lenders that have requested it and for all lenders using emiliWEB, CMHC will no longer charge application fees effective July 7, 2006. Other options continue to exist for Approved Lenders who do not wish to implement the new process yet, and CMHC will work with you to develop customized solutions to meet your needs.

All inquiries regarding this policy change should be addressed to your CMHC Regional Manager of Business Development.