1 year open No penalty No penalty 1, 2 & 3 year closed term Greater of IRD or 3 mo Greater of IRD or 3 mo interest penalty interest penalty, less 10% 4, 5, 7 & 10 year closed term See chart below See chart below, less 10% *1 year open and Home Account are Excluded Advance Date, before Advance date Committed date on or March 1st, 2004 between March 1, after December 13, 2004 OR Committed 2004 OR Advanced before December 10, 2004 Insured Greater of 3-month Greater of 3-month Greater of 3-month interest penalty or interest penalty or interest penalty or CMHC/Genworth IRD up until the 3rd IRD up until the 3rd IRD up until the 5th anniversary. After the anniversary. After the anniversary. After the 3rd anniversary, the 3rd anniversary, the 5th anniversary, the 3-month interest 3-month interest 3-month interest penalty would apply. penalty would apply. penalty would apply. *The above would apply if commitment is signed prior to Dec 20th, 2004. Conventional Greater of 3-month interest penalty or IRD up until the 5th anniversary. After the
1 year open No penalty No penalty 1, 2 & 3 year closed term Greater of IRD or 3 mo interest penalty Greater of IRD or 3 mo interest penalty, less 10% 4, 5, 7 & 10 year closed term See chart below See chart below, less 10% *1 year open and Home Account are Excluded Advance Date, before March 1st, 2004 Advance date between March 1, 2004 OR Committed OR Advanced before December 10, 2004 Committed date on or after December 13, 2004 Insured CMHC/Genworth Greater of 3-month interest penalty or IRD up until the 3rd anniversary. After the 3rd anniversary, the 3-month interest penalty would apply. Greater of 3-month interest penalty or IRD up until the 3rd anniversary. After the 3rd anniversary, the 3-month interest penalty would apply. *The above would apply if commitment is signed prior to Dec 20th, 2004. Greater of 3-month interest penalty or IRD up until the 5th anniversary. After the 5th anniversary, the 3-month interest penalty would apply. Conventional Greater of 3-month interest penalty or IRD up until the 5th anniversary. After the
GuidelinesJan2014.docx