Mortgage pros fight Ottawa
New Consumer Advocacy Campaign Announced
The Mortgage Professionals Canada launched a new consumer advocacy campaign including a website, www.tellyourmp.ca, on April 25.
The purpose of the website is to educate members of Parliament about the negative impact that changes to mortgage insurance and eligibility have had on homeowners or potential homeowners.
The association has been lobbying the government and is asking middle class Canadians to voice their opinions by letting them know how they have been impacted by the changes.
“Our members are working with and seeing directly that many Canadians are frustrated by the impacts of these changes and are looking at ways to reach out to the government directly,” said Paul Taylor, president and CEO, Mortgage Professionals Canada.
“Our goal with this grassroots campaign is to make it incredibly easy for Canadians who have been disadvantaged by the changes to send a message to their local MP to build support for affordable homeownership.”
Mortgage Professionals Canada has been encouraging those impacted by the mortgage changes to email a letter to their MP by visiting www.tellyourmp.ca.
Members of the association have been lobbying local MPs about the negative impact the changes are having on housing activity in Canada. Additional costs are impacting the Canadian middle class through higher interest rates and reduced purchasing power.
Many homeowners are paying thousands more in interest costs and many first time buyers or those with smaller down payments are unable to qualify for a mortgage that will allow them to buy a home in their local.
Because of these changes and the impacts to real people, the association is calling for the government to make some reasonable, common-sense adjustments to the recent changes.
The association gave the government recommendations on meeting their goals while softening the negative impacts on Canadian homeowners and buyers.
About Mortgage Professionals Canada
Mortgage Professionals Canada is an association representing the mortgage industry. It represents approximately 11,500 individuals and more than 1,000 companies, including lenders, insurers, mortgage brokerages and industry service providers.
“Our members make up the largest and most respected network of mortgage professionals in the country whose interests we represent to government, regulators, media and consumers.”
The association is dedicated to maintaining a high standard of industry ethics, best practices and consumer protection.
This body represents the mortgage broker channel which originates 33 per cent of all mortgages in Canada, 50 per cent of first time homebuyers and represents about $80 billion dollars in annual economic activity.
The strong membership and diversification of members allows the association to address issues impacting all aspects of mortgage origination in Canada.
If you have been impacted by the changes, please visit the website above.
To be continued.