1." Bundling has provided a way around two federal rules meant to control such risks. Regulated lenders in Canada are not allowed to lend more than 65 percent of the value of a home to borrowers with bad or non-existent credit records."  The false assumption that these borrowers don't qualify or have bad credit If there had been any research done, it would have shocked the reporter that the majority of the borrowers were qualified with good credit. These are borrowers who qualified at CMHC and the Banks up until a few years ago.