The Canada Mortgage and Housing Corporation marked its 65th anniversary last week with the release of their 2011 annual report. As the nation’s top mortgage insurer (the organization backs $567 billion in default mortgage insurance), the CMHC controls roughly three-quarters of the nation’s mortgage default insurance. Despite inching ever closer to the $600 billion dollar government-imposed limit, the CMHC’s reported … Read More
Budget Overview: What It Means for CMHC
From pennies to old age pensions, yesterday’s budget was full of unexpected quirks. What wasn’t surprising to best rate mortgage brokers was the government’s discomfort with the Canada Mortgage and Housing Corporation. Ottawa has voiced concern over the activities of the Crown corporation for months now, threatening to toughen its oversight of this important economic organization. Yesterday, the budget took … Read More
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