VANCOUVER Nov 28 Canada's banking regulator
warned on Monday that lenders could face significant losses if
housing markets turn and emphasized the need for stringent
"Sound underwriting has always been important, but it has
never been more important than it is now," the Superintendent of
Financial Institutions told a conference for mortgage
professionals in Vancouver.
"Everyone involved in mortgage origination in Canada has a
role to play in supporting the sound underwriting practices that
OSFI requires of federally regulated lenders and mortgage
insurers," he added.
(Reporting by Matt Scuffham, Editing by Franklin Paul)