Eligible Mortgage Loan Regulations

Marginal note:Low ratio loans — before October 15, 2008

• 8 (1) The criteria set out in section 6 do not apply to a low ratio loan in respect of which the mortgage insurer received a mortgage or hypothecary insurance application before October 15, 2008 if it meets the requirements of a mortgage or hypothecary loan insurance product that was offered by the mortgage insurer before that date.

• Marginal note:Low ratio loans — October 15, 2008 to April 17, 2011

  (2) The criterion set out in paragraph 6(a) does not apply to a low ratio loan in respect of which the mortgage insurer received a mortgage or hypothecary insurance application during the period beginning on October 15, 2008 and ending on April 17, 2011.