GENERAL ELECTRIC
 GE
Capital Mortgage Insurance Canada is the
only private sector supplier of mortgage
default insurance in Canada. Its primary
product is mortgage default insurance for
lenders, which allows them the flexibility
to offer high-ratio residential mortgages.
The company is made up of Canadian mortgage
finance professionals committed to working
in partnership with lenders, real estate
professionals, and new home builders to
expand affordable housing options so more
Canadian families can buy homes. GE is regulated
by the Office of the Superintendent of Financial
Institutions (OSFI), and is licensed in
all 10 Provinces and 2 Territories.
Located across Canada, GE’s management
and service professionals have local experience
with high ratio lending and a strong history
of serving the Canadian mortgage industry's
needs.
GE Capital Mortgage Insurance Canada is
also part of the global company of GE, a
diversified manufacturing, technology and
service company with 220,000 employees in
12 businesses. GE has been in Canada since
1908, employing over 8,000 Canadians.
With GE's financial and technical strength
and GE Capital Mortgage Insurance Canada's
industry knowledge and expertise, the company
offers a new level of service and a new
perspective on the challenges that mortgage
and housing industry professionals face
daily.
What are GE's products?
The company's primary product is
residential mortgage default insurance,
which protects regulated lending institutions
from loss if the borrower fails to pay.
Mortgage insurance is offered for the purchase,
renovation, or refinance of owner-occupied
single family homes or duplexes in urban
areas across Canada, allowing lenders to
offer residential mortgages in excess of
75% of the value of the property, thus expanding
the buyers' market and bringing affordable
housing to more Canadians.
GE's mortgage insurance programs
include:
 95%
Homeowner Program
90%
Homeowner Program
Second
Mortgage Program
Renovation
Program for debt incurred to complete structural
renovations or additions
Roll-over
Program for consolidation of first and second
mortgage debt
SDRRSP
Program which allows borrowers to use their
Self Directed RRSP funds to purchase
or refinance their homes while continuing
to defer their tax liability. |
