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Bundles of debt: Sidestepping mortgage rules

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Bundles of debt: Sidestepping mortgage rules

The Globe and Mail

Canada’s subprime mortgage providers are increasingly teaming up with unregulated rivals to sidestep rules designed to clamp down on risky lending.

The result of these partnerships are so-called “bundled” loans, which pair a primary mortgage with a second loan from unregulated groups called Mortgage Investment Corporations (MICs).

http://www.theglobeandmail.com/globe-investor/personal-finance/bundles-of-debt-how-lenders-sidestep-canadas-mortgage-rules/article33574488/?cmpid=rss1&1484841990089

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