How an obscure budget change could raise mortgage rates- Ask a Vancouver Mortgage Broker

ROBERT MCLISTER – Special to The Globe and Mail The acronym “ABCP” doesn’t come to mind when people go mortgage shopping. But if you get a new mortgage in the next few years, it could very well affect your interest rate. ABCP stands for asset backed commercial paper. It’s used by a handful of non-bank lenders to […]

A Budget Change Which Can Affect Vancouver Home Mortgages

A Budget Change Which Can Affect Vancouver Home Mortgages The Federal government made a subtle change to their budget recently that affects something most people probably haven’t even heard about. It’s called “ABCP” which is an acronym for ‘asset backed commercial paper’, and over the next few years it could impact future Vancouver home mortgages. […]

OSC says Coventree withheld looming ABCP crash from investors

JACQUIE MCNISH AND JEFF GRAY After weeks of scrambling to resuscitate the ailing asset-backed commercial paper (ABCP) market in the summer of 2007, a senior executive with Coventree Inc. sent an ominous e-mail to company officers. Warning that the Caisse de dépôt et placement du Québec would likely stop supporting the troubled market, Coventree’s head of capital markets David […]