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Four Changes CMHC Needs to Make to Rein in Its Mortgage Market Influence

My nomination for the understatement of the year goes to Finance Minister Jim Flaherty, who in early December observed that “regrettably, CMHC became something rather more grand I think than it was intended to be.”

Indeed. The Crown corporation, which originally had a humble mandate of helping first-time buyers obtain favourable financing, now insures $560-billion of some of Canada’s riskiest mortgages, more than double what it insured in 2005.

via Four changes CMHC needs to make to rein in its mortgage market influence – The Globe and Mail.

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