TAO Solutions is pleased to announce that both mortgageHUB and GPG Pool Maker products will be modified in the coming weeks to support the first phase changes. TAO Solutions has been busy in recent days analyzing the requirements, designing the technical implementation and planning the necessary testing activities. After careful planning and thoughtful consideration of our client’s needs, TAO Solutions has expedited this project to allow for a release of both products on May 8, 2015.
Some details of the implementation are unknown at the current time, such as handling substitutions in these new pools, for which TAO Solutions has submitted as questions to CMHC. With answers expected in the coming days, any resulting requirements will be built-in to the forthcoming releases.
Issuers wishing to take advantage of this policy change can commence issuing multi-insurer pools as early as May 1, 2015, while non-participants will have until January 1, 2016 to make system changes that will bring their forms and electronic files up to date. Both mortgageHUB and GPG Pool Maker clients will need to take the latest versions of the software to implement these changes. Clients can request a release package at their convenience on or after May 8, 2015. This timing will allow clients to implement the new code, perform internal testing, and certify for production usage by the end of May 2015.
TAO will make additional announcements regarding phase two modifications resulting from this policy change after official advices are released by CMHC in the future.
For more information about these changes, or to request a release package when the changes are ready, please contact your designated TAO Solutions client representative.