Traduction de «Versement par anticipation sur un prêt hypothécaire » (Français → Anglais) :

9. Recognises that major central banks such as the ECB and the US Federal Reserve warned against underestimating the risks to the economy prior to the IT-bubble in 2000 and the sub-prime crisis in 2007; notes that the financial markets failed effectively to respond to those warnings; asks the ECB, therefore, to analyse that response and suggest how to improve the correlation between such forward-looking warnings and market reactions; calls on the ECB, in the light of recent financial turmoil, to analyse and evaluate the aftermath o ...[+++]f the financial crisis and examine whether it has sufficient instruments for handling a cross-border European financial crisis, and which powers it needs in order to improve macro-prudential supervision in the euro area;

– Madam President, on the Committee on the Internal Market and Consumer Protection where this report has been gestating for a long period of time in both readings, it is well known that I have had some severe criticism of it from its early stages where it was confusing new products that are available in one market – such as the UK market, such as mortgages where you can offset your credit balance with the same bank against your mortgage – which under initial proposals would have been banned in this report, to where we have now, after six years, new concerns – even though we have been talking about this report for six years – about ...[+++]the early repayment of credit costs.

Where relevant, this shall include the exposure type, the percentage of loans more than 30, 60 and 90 days past due, default rates, prepayment rates, loans in foreclosure, collateral type and occupancy, and frequency distribution of credit scores or other measures of credit worthiness across underlying exposures, industry and geographical diversification, frequency distribution of loan to value ratios with band widths that facilitate adequate sensitivity analysis.

Mr. Jack Frazer (Saanich-Gulf Islands, Ref.): Mr. Speaker, the Canadian Real Estate Association in consultation with the Canadian Bankers Association and the Consumers Association of Canada proposed fair and equitable amendments to the Interest Act for both mortgage borrowers and mortgage lenders (1400 ) They say the act must be amended to: first, provide for mortgage prepayment, adopting a uniform prepayment penalty that consumers ...[+++] understand; second, define the interest rate differential formula based on the remaining term as the best method to achieve fairness; third, retain the three months penalty currently included in the National Housing Act; fourth, standardize the formula and right to prepayment with user friendly terminology to let people understand what they are signing; and finally, require lenders to reveal true mortgage borrowing costs to ensure the consumer clearly understands the terms and conditions.

the current regime, limiting the prepayment penalty for mortgages longer than five years to a maximum of three months' payments, has effectively eliminated mortgages greater than five years in

We have previously strengthened mortgage rules to protect Canadians buying homes, reduced the maximum mortgage period to 30 years, significantly reduced interest payments that families can make on their mortgages, and are lowering to 85 per cent the maximum amount lenders can provide when refinancing mortgages.