Exclusive: Canada's banking regulator warns major lenders about appraisal practices as condo prices crash
Exclusive: Canada's banking regulator warns major lenders about appraisal practices as condo prices crash is drawing significant interest across the industry.
Canada’s banking regulator warned bank executives in a meeting last October that a widespread practice of blanket home appraisals for condominium mortgages could breach a ?federal mortgage rule, according to meeting minutes seen by Reuters.
Experts suggest this could influence future trends and innovation in the sector.
More updates are expected as the story develops.
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