Eligible Mortgage Loan Regulations

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

• 8 (1) The criteria set out in paragraphs 6(a) and (b) 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.

• Marginal note:Low ratio loans — before July 1, 2016

  (3) The criterion set out in paragraph 6(d) does not apply to a low ratio loan if the mortgage insurer received a mortgage or hypothecary insurance application in respect of the loan — or in respect of the portfolio of loans to which the loan will belong for insurance purposes — before July 1, 2016, unless the application has been denied or the loan has ceased to be insured under insurance resulting from the application.