Mortgage Professionals Canada applauds PEI's new Down Payment Assistance Program (DPAP)
TORONTO, Oct. 10, 2018 /CNW/ - Mortgage Professionals Canada (MPC) thanks the government of Prince Edward Island for its implementation of a new Down Payment Assistance Program (DPAP) to help first-time home buyers.
"Today's announcement by the government of PEI to support first-time home buyers recognizes the new challenges which exist for those looking to buy their first home. This decision encourages them, and our members." said Paul Taylor, President and CEO of Mortgage Professionals Canada. "Home ownership remains a primary goal for Canadians from coast to coast; owning a home is a key part to building lifelong financial security."
MPC has been engaged in PEI and across Canada, relaying the concerns of its members regarding recent federal policy changes to mortgage eligibility and insurance. These policy decisions have negatively impacted aspiring homeowners and the marketplace. Creating provincial programs like PEI's new DPAP will help alleviate those pressures.
"My thanks to key ministers and their officials in PEI for working with us, allowing us to contribute our ideas to help support PEI's first-time home buyers." added Taylor. "We want to ensure all Islanders have the opportunity to buy a home. I commend and again thank the government of PEI for listening to our concerns and taking action to address these challenges."
About Mortgage Professionals Canada
Mortgage Professionals Canada is the national mortgage industry association representing 11,500 individuals and 1,000 companies, including mortgage brokerages, lenders, insurers and industry service providers. Our members make up the largest and most respected network of mortgage professionals in the country whose interests we represent to government, regulators, media and consumers. Together with our members, we are dedicated to maintaining a high standard of industry ethics, consumer protection and best practices.
The mortgage broker channel we represent, originates more than 35% of all mortgages in Canada and 55% of mortgages for first-time homebuyers, representing approximately $80 billion dollars in annual economic activity. With this diverse and strong membership, we are uniquely positioned to speak to issues impacting all aspects of the mortgage origination process.
SOURCE Mortgage Professionals Canada
Christian von Donat, Mortgage Professionals Canada Public Affairs, O: 613-233-8906 / C: 613-408-0498, [email protected]
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