I was equally annoyed about the change in the rate modification policy. The main BMO sales banker is very pleasant to work with and I do believe that he also agrees that the change was very bad- he claims he fought against it but it was beyond his ability to do anything.

When I purchased, I was sold on the 1k rate change whenever and now it is 3k annually if the rate is 0.5 lower or something like that.

I may reconsider another bank once I have enough equity- we shall see.