MortgageHub CDOR Cessation Guidance

In response to our clients' strongly stated wishes to avoid the requirement of a full release of MortgageHub to handle CDOR Cessation as it pertains to the rapidly diminishing number of CDOR pools and CMBs, TAO is pleased to confirm that all existing client production versions of the application will be able to handle CDOR Cessation without any application code changes, and with minimal changes to client processes.

At a high level, the identified process changes will involve the updating of existing CDOR index rates and yield curves in MortgageHub with applicable rates based on CDOR cessation rules. The existing CDOR-based Pool and CMB types will continue to be used and related field configurations will remain unchanged. MortgageHub will behave as though CDOR is still in force. Only the base rates that you currently provide to MortgageHub will need to reflect CDOR cessation rules. For details on the calculations of the rates, please refer to the relevant issued Advice from the appropriate regulatory bodies.

TAO is currently working to document in detail the aforementioned operational process changes, currently slated for client distribution by February 23rd, 2024. Note that TAO has already confirmed with CMHC and CHT that the process change solution will meet all regulatory requirements.

If you have any questions or concerns or should you require any assistance with the conversion, please contact your TAO Account Manager.