CMHC's loss is Sagen's gain, as private-sector mortgage insurer sees market share grow

The country’s biggest private-sector insurer of residential mortgages says it has gained market share following the Canada Mortgage and Housing Corp.’s decision to tweak its underwriting policies, a trend that has set off alarm bells at the Crown corporation. Genworth MI Canada Inc., which has begun operating as Sagen MI Canada, now has a percentage of the default-insurance market for mortgage lenders that is “probably in...