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2014 Achievements
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- CMHC: Canada’s authority on housing
- Our mission: We help Canadians meet their housing needs
- Our vision: The heart of a world-leading housing system
CMHC contributes to market efficiency, a sound and stable housing finance system, and increased housing quality and sustainability.
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Market Analysis and Research
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- CMHC is the leading voice in Canadian market analysis and housing research. This year, we continued to improve the availability of information on Canada’s housing markets.
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- Launch of the Housing Market Information Portal - free, flexible, comprehensive housing data
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- Release of the House Price Analysis and Assessment Framework - to assess housing market conditions: overheating, price acceleration, overvaluation, overbuilding
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- 1,849,453 Housing Research Information Products downloaded or distributed
- 662,608 Market Analysis Publications downloaded or distributed
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Assisted Housing
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- In support of housing programs on and off reserve, CMHC spent just over $2 billion on behalf of the Government of Canada.
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- 570,950 households supported under long-term social housing commitments, including 27,750 on reserve
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- 496 new units committed under the On-Reserve Non-Profit Housing Program
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- 3,154 new units facilitated through CMHC’s Affordable Housing Centre
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- CMHC worked with provinces and territories to extend bilateral Investment in Affordable Housing agreements to 2019.
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- Since April 1, 2011 to December 31, 2014, 217,772 households are no longer in housing need as a result.
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Mortgage Loan Insurance
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- Providing Canadians with access to financing for a range of housing options in all parts of Canada – including affordable housing, homeownership and rental housing
- In 2014, we made important changes to our mortgage loan insurance business. This included premium adjustments, changes to policies for low-ratio insurance, and the discontinuation of some products.
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- High-quality mortgage loan insurance portfolio:
- 46% average equity
- 0.35% arrears rate
- average credit score: 731 transactional homeowner; 760 portfolio
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Securitization
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- CMHC’s Securitization programs provide a reliable source of long-term mortgage funding for residential mortgage lenders.
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- $78.6 billion National Housing Act Mortgage-Backed Securities (NHA MBS)
- $39.0 billion Canada Mortgage Bonds (CMB)
- $117.6 billion securities guaranteed
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People and Processes
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- One of the Top Employers in the National Capital Region
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- One of Canada’s Best Diversity Employers
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- One of Canada’s Most Admired Corporate Cultures
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- Initiated a multi-year program of change that will result in: a focused role, an accountable culture, enabled people and efficient processes
- Implemented 15 employee-generated ideas to improve our business and workplace
- Launched a five-year I&T strategic investment plan
- Introduced the Three Lines of Defence risk governance model to become best-in-class risk manager
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