CMHC attempts to conceal foreclosure info

Canada Mortgage and Housing Corp. has been trying to get realtors “to keep consumers in the dark about whether the properties it sells are part of a foreclosure,” reports The Financial Post.

Concerned that doing what the CMHC wanted would amount to an ethical breach, Quebec realtors refused to go along.

“The Quebec Federation of Real Estate Boards, which oversees the 12 real estate boards in the province, says it challenged CMHC about the change requiring them not to report on a detail sheet that properties for sale were part of a foreclosure, despite the fact that information is considered mandatory when loaded by brokers onto the selling system of local boards,” the report says.

Read more here.

Also read:

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CMHC announces covered bond framework

Canadian housing continues to cool

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.