The head of Canada Mortgage and Housing Corp. says it is beefing up its ability to detect mortgage fraud after being directed to do so by the federal government. CMHC president and CEO Evan Siddall says there is no evidence of a widespread mortgage fraud problem. But Siddall says there are incentives to commit fraud in the system and therefore the agency needs to be vigilant. Read more: IMF warns about Canadian housing and household debt, urges more government actionSiddall says CMHC’s stepped up efforts were not triggered by recent events at mortgage lender Home Capital, which has been dealing with the aftermath of a scandal involving falsified loan applications.

Source: thestar June 01, 2017 20:03 UTC