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24 Sep

Angela Calla discusses fix on the Stress Test as proposed by Andrew Scheer

General

Posted by: Angela Calla

Here are some of the speaking points that Angela touched on during her interview on the Charles Adler Show, played nationally, yesterday:

  • The current foreclosure rate is less than .025% and CMHC pays millions of dollars in dividends to the government each and every year.  They have enough money to pay out every single mortgage they have ever insured plus some so this was not as a result of an existing or foreseeable problem or threat of defaults on consumer mortgages.
  • The liberals created the stress test but we are unsure why?  There was zero consultation with industry.
  • We have spent the last 2 years trying to get them to amend the policies so that middle class Canadians do not have to continue suffering as a result of the unintended consequences that clearly were not foreseen.
  • The conservatives took formal consultation with us and actually adapted all the policies that we suggested to help middle class Canadians keep their money and empower them instead of paying more for no reason.  As a Mortgage Broker, we are passionate about educating Canadians and empowering them.
  • We believe that there is no one better to decide where their money should go then the actual consumers themselves.  When we handcuff them to lenders by not doing proper consultation with industry, we take away their power of choice and we give the power to the big corporations to take money from people which is very belittling.  We are very proud to see this come forward.  The other parties have mentioned some modifications but certainly nothing to the degree that will help as much as this plan has been laid out.

For further information, the link below provides the interview on the Charles Adler Show played on the radio, Nationally.

https://omny.fm/shows/charles-adler-tonight/andrew-scheer-announces-stress-test-for-first-time

Angela Calla is a 15 year award-winning woman of influence and mortgage expert. Alongside her team, passionately assisting mortgage holders get the best mortgage, and educating them on The Mortgage Show on CKNW for over a decade and through her best-selling book The Mortgage Code available on Amazon. To purchase the book click here: The Mortgage Code. Proceeds from her book sales are donated to local charities helping families in the tri-city community.  Angela can be reached at   callateam@dominionlending.ca or 604-802-3983