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Update for Post-1991 ILM Co-ops in BC and Alberta
Date
14 March 2024
We are happy to share the news that CMHC has changed its position on surcharges for post-1991 ILM Co-ops in British Columbia and Alberta.
CMHC previously decided that co-ops in the program must continue to collect a surcharge if they have an operating agreement, even though their ILM mortgage has
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Client Compliance
In 2008, 70% of Agency clients met every term of their CMHC operating agreement. Now 80% do. And compliance failures, great and small, are also fewer.