Mortgage insurer Genworth Financial Canada says its products will comply with the federal government’s recently announced adjustments to the rules for government guaranteed mortgages aimed at protecting and strengthening the Canadian housing market.

“We support including fixing the maximum amortization period for new government-backed mortgages to 35 years, and requiring a minimum down payment of 5% for new government-backed mortgages,” stated Peter Vukanovich, president of Genworth.

“Our products will comply with these rules beginning October 15, 2008, when the new limits take effect,” he added.

As well, TD Canada Trust today announced changes to make its mortgage offering comply with the federal government’s announcement regarding mortgage financing.

TD says the maximum amortization period for its mortgages will be 35 years, and 5% is the minimum down payment required for new mortgages.

TD adds that it will continue to process those mortgages with a longer amortization period or a lower down payment that have already been approved.

TD says the changes are effective immediately.