What is it?
An All Risk Comprehensive Property insurance policy protecting the private lender’s mortgage interest against physical loss or property damage. Until now, this type of protection was only affordable to the largest banks and trust companies lending in Canada.
Who is eligible to purchase the product?
The Mortgage Impairment insurance policy is available exclusively to CMBA-BC members. Mortgage administrators, individual private lenders, Mortgage Investment Corporations and mortgage brokers arranging private mortgages can all purchase this policy.