Business
VERSABANK LAUNCHES ENHANCED CMHC LENDING PROGRAM: EXPECTED TO GENERATE A MINIMUM OF $2 MILLION IN INCREMENTAL REVENUE IN FISCAL 2026 WITH DE MINIMIS ADDITIONAL OPERATING EXPENSES
VERSABANK LAUNCHES ENHANCED CMHC LENDING PROGRAM: EXPECTED TO GENERATE A MINIMUM OF $2 MILLION IN...
About this update from Versabank
[{"type":"text","content":"\n\n\nVERSABANK LAUNCHES ENHANCED CMHC LENDING PROGRAM: EXPECTED TO GENERATE A MINIMUM OF $2 MILLION IN INCREMENTAL REVENUE IN FISCAL 2026 WITH DE MINIMIS ADDITIONAL OPERATING EXPENSES\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\nCanada NewsWire\n\n\n– Bank Applauds Prime Minister Mark Carney and Finance Minister François-Philippe Champagne on Multi-Residential Housing Initiatives in Federal Budget, Further Supporting Bank's Enhanced CMHC Program –\nAttention: Business Editors\nLONDON, ON, Nov. 20, 2025 /CNW/ - VersaBank (\"VersaBank\" or the \"Bank\") (TSX:VBNK; NASDAQ:VBNK), a North American leader in business-to-business digital banking, as well as technology solutions for cybersecurity, today announced it has enhanced its Canadian Mortgage and Housing Corporation (\"CMHC\") insured lending program such that the Bank will begin utilizing its Canadian Mortgage Bond (\"CMB\") Program allocation capacity to invest in CMHC-insured multi-unit residential (\"MUR\") term mortgages originated by partners who are well-established leaders in the Canadian MUR mortgage industry (the \"Mortgage Originator\") (the \"Enhanced CMHC Program\").  The Enhanced CMHC Program, which requires minimal regulatory capital, is expected to contribute a minimum of $2 million of incremental revenue to the Bank in fiscal 2026 with de minimis additional operating costs.\n\n\n\n\n\n\n\n\"This new income stream within our already very successful CMHC Lending Program is another example of VersaBank leveraging our proprietary banking technology and specific expertise to capitalize on unique opportunities in the banking industry and use our operating leverage to drive earnings growth and value for our shareholders, while further mitigating risk,\" said David Taylor, Founder and President, VersaBank.  \"The incremental profitability generated by our Enhanced CMHC Program in fiscal 2026 will complement the anticipated  continued growth from the strong momentum in the ramp up of our unique and attractive Receivable Purchase Program financin...