Some borrowers may face unforeseen financial circumstances that may impact their ability to maintain ownership of their home. With early intervention, cooperation and a well-executed default management plan, lenders and borrowers can work together to find winning solutions to many financial problems.

CMHC’s Default Management Tool Selector can help lenders to determine what CMHC default management tools are most appropriate given the borrower’s circumstances. For the purposes of the tool, it is assumed that the borrower is experiencing financial difficulty and/or that the loan is in default.

Step 1 of 3
Is the borrower able/willing to make repayment?

Help When You Need It

CMHC’s Homeowner Default Management Team is available to assist you at any time, including before a default occurs and during early stages of payment delinquency. The team has the expertise to help you manage unusual or complex accounts, and is available to respond to your training needs.

Support when you need it most... and just a phone call away!

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This tool is intended solely to assist Approved Lenders in understanding the basics of CMHC's current default management guidance. The user should be aware that this is not intended to be comprehensive, and remains subject to CMHC's formal insurance policies which may contain other conditions, requirements and restrictions and may change from time to time. The tool is not intended to provide financial or other expert advice and should not be relied upon in that regard. It is provided without warranty of any kind, express or implied. Neither CMHC nor any of its employees, agents, or advisors shall have any liability of any kind in connection with use of the tool.

Date Published: March 31, 2018