2010 Annual Report Highlights CMHC's Role at the Heart of Housing
(firmenpresse) - OTTAWA, ONTARIO -- (Marketwire) -- 07/21/11 -- Canada Mortgage and Housing Corporation (CMHC) released its 2010 Annual Report today, highlighting the Corporation's role at the heart of housing in Canada and outlining its strong focus on public accountability and responsible risk management.
Since 1946, CMHC has been at the heart of federal housing policies which have shaped Canada's housing system - a system where the vast majority of Canadians are able to access high-quality housing without direct assistance.
"CMHC's Annual Report provides a comprehensive examination of the Corporation's performance in 2010, including key information on the quality of CMHC's mortgage insurance portfolio," said Karen Kinsley, President and Chief Executive Officer of CMHC. "It demonstrates that CMHC continues to be instrumental in implementing federal housing policy by assisting Canadians in need and helping to make housing markets efficient and sustainable."
In 2010, the Government of Canada, through CMHC, invested more than $3 billion, often in partnership with provinces, territories, the not-for-profit sector and other stakeholders in the construction of new and rehabilitation of existing social housing. All social housing investments under Canada's Economic Action Plan administered by CMHC have been fully committed, well in advance of the March 31, 2011 deadline. Examples drawn from thousands of projects that have benefitted Canadians in need are showcased in the Annual Report.
CMHC has also played a role in ensuring the stability and efficiency of Canada's housing finance system by managing its mortgage loan insurance and securitization guarantee programs in a responsible, commercially-viable manner, at no cost to Canadian taxpayers. These programs have helped ensure that qualified borrowers have been able to access affordable housing finance in good and in bad economic times.
The 2010 Annual Report details the quality of CMHC's loan insurance portfolio that accounted for most of CMHC's net income of $1.768 billion and which contributed to reducing the Government of Canada's annual deficit. As well, it shows that CMHC maintains twice the minimum capital required by the Office of the Superintendent of Financial Institutions to guard against possible adverse events.
CMHC's 2010 Annual Report, entitled At the Heart of Housing, is available online at or by calling 1-800-668-2642. As Canada's national housing agency, CMHC draws on over 65 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable housing solutions that will continue to create vibrant and healthy communities and cities across the country.
Contacts:
Charles Sauriol
Senior Media Relations Officer, CMHC
613-748-2799
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Datum: 21.07.2011 - 12:15 Uhr
Sprache: Deutsch
News-ID 36621
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OTTAWA, ONTARIO
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National
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