CMHC Releases 2016 Second Quarter Results

(firmenpresse) - OTTAWA, ONARIO -- (Marketwired) -- 08/29/16 -- Canada Mortgage and Housing Corporation (CMHC) released its second quarter financial results today as well as supplemental data on the Corporation's Mortgage Loan Insurance, Securitization, and Covered Bonds business activities.

CMHC's mortgage loan insurance and securitization guarantee programs operate on a commercial basis without support from Canadian taxpayers. During the quarter, CMHC generated $338 million in net income from these activities.

Report Highlights

Consistent with our mandate, CMHC is present in all markets and through all economic cycles.

CMHC also works closely with provinces, territories and housing providers, including First Nations, to help low-income Canadians access affordable, better quality housing. For the three-month period ended June 30, 2016, CMHC provided more than $463 million for housing programs on behalf of the Government of Canada.

A copy of the Quarterly Financial Report and the supporting business supplements are available .

This release includes .

CMHC's Mortgage Loan Insurance, Securitization and Covered Bond business supplements offer additional data on CMHC's commercial activities to help readers better understand our business. CMHC has been Canada's national housing agency for 70 years.

CMHC helps Canadians meet their housing needs. As Canada's authority on housing, we contribute to the stability of the housing market and financial system, provide support for Canadians in housing need, and offer objective housing research and information to Canadian governments, consumers and the housing industry. Prudent risk management, strong corporate governance and transparency are cornerstones of our operations.

QUOTE

"Spring 2016 was another steady quarter for CMHC. Our net income is stable, insured volumes are up and the overall arrears rate remains low. That said, we continue to monitor housing markets closely due to weaker economic conditions in parts of the country."

- Brian Naish, Chief Financial Officer, Canada Mortgage and Housing Corporation

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Contacts:Karine LeBlancCMHC Media Relations613-740-5413

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Bereitgestellt von Benutzer: Marketwired
Datum: 29.08.2016 - 12:15 Uhr
Sprache: Deutsch
News-ID 491493
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OTTAWA, ONARIO

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Commercial Real Estate

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