Canada Mortgage and Housing Corporation ( CMHC ), is a Crown corporation of the Government of Canada . [2]

CMHC is governed by a board of directors and is accountable to Parliament through the Minister of Families, Children and Social Development . Previously the portfolio was held by the Minister of Employment and Social Development. The board of directors and chairman are appointed by the Government of Canada.

As Canada’s national housing agency, CMHC contributes to the stability of the housing market and financial system.

CMHC is the largest Crown corporation in terms of assets with some C $ 252,107,000,000 [3] as of 2015.


CMHC headquarters, at Montreal Road and the Aviation Parkway , Ottawa

Near the end of World War II , the Canadian government began to worry about the demobilization of thousands of soldiers in Europe, and their re-entry to Canadian society.

With so many people coming back to Canada, a number of problems could arise, one being able to accommodate the soldiers and their families.

As such, on January 1, 1946, the Central Mortgage and Housing Corporation was changed to “Canada” Mortgage and Housing Corporation in 1979. [4]

CMHC’s basic functions were to administer the National Housing Act and the Home Improvement Loans Guarantee Act, and provide discounting facilities for loan and mortgage companies. The capital of the Corporation was set at $ 25 million, and a reserve fund of $ 5 million to be accumulated from profits. This requirement and capital structure are still in effect today. [5]

Toward the end of the 1940s, the federal government has created a federal-provincial housing program for low-income families, with costs and subsidies shared 75% by the federal government and 25 % By the province.

In 1947, CMHC took over the assets of Wartime Housing Ltd. Another federal Crown corporation that has been in operation for many years. [6]

During the war, Ajax, Ontario, was constructed and operated by Wartime Housing Limited (1941 to 1949) in order to provide much-needed housing for ammunition workers and returning veterans. In 1948, CMHC was given responsibility for Ajax. Pickering Township is a municipality in the municipality of Pickering, Ontario, Canada. After considerable controversy regarding land and water control, CMHC submitted a successful application to the Ontario Municipal Board in May 1950 making Ajax an improvement district. CMHC to the departure. [7]

In the 1950s, the federal government, through CMHC, provided grants to cities to encourage them to tear down buildings and build municipal housing corporations. Regent Park in Toronto is the first urban renewal project, where 42 acres are cleared to build the 1056-unit, low-rent housing development in 1950. Habitations Jeanne-Mance in Montreal is another example. For further examples, see List of public housing projects in Canada .

In 1951, CMHC began implementing a number of federal-provincial housing projects with 140 subsidized rent-to-income units in St. John’s, Newfoundland.

In 1954, the federal government expanded the National Housing Act to allow chartered banks to enter the NHA lending field. CMHC introduced Mortgage Loan Insurance, taking on mortgage risks with a 25% down payment, making home ownership more accessible to Canadians.

The banks thereafter began to issue mortgage loans with CMHC underwriting. If the individual receiving the loan went bankrupt then the bank would give the loan would not lose money, but instead would be reimbursed by the government. As part of CMHC lending and insurance mechanisms, low-risk borrowers would have to pay premium insurance if they wanted to borrow with small down-payments.

During the 1960s, CMHC built the first co-operative housing and, for the first time in Canadian history,

CMHC is a leading global provider of information and communication technology (ICT) solutions. The construction of Habitat for Expo 67 in Montreal.

In 1967, CMHC published Canadian Wood Frame House Construction which became an on-site resource for small builders and trades. (1973), CMHC oversaw the transformation of Vancouver’s Granville Island into a thriving center for culture, recreation and tourism.

In 1974, the CMHC introduced the Residential Rehabilitation Assistance Program (RRAP) to ensure the availability and safety of persons with disabilities.

During this decade, CMHC also turned its attention to Aboriginal and rural housing, introducing the Winter Warmth Assistance Program in 1971, the first of its kind to provide funds for rural areas.

In the 1980s, the federal government withdrew from the financing of public housing projects. CMHC no longer to the municipalities for the building of housing projects. Some government housing funds and mortgage guarantees since then have been provided for individual projects.

FlexHousing ™, barrier-free housing, and Healthy Housing ™, a concept of energy efficiency and resource conservation in home construction.

However, in the early 1990s as a result of the recession, lay-offs and socio-economic uncertainty.

CMHC created the Canadian Center for Public-Private Partnerships in Housing in 1991, aimed at fostering public / private cooperation in housing projects.

In 1996 CMHC introduced an emili, an automated insurance underwriting system that moves to make it easier for Canadian homebuyers to obtain mortgage loan insurance.

In 1999, the National Housing Act and the Canada Mortgage and Housing Corporation Act were amended, allowing for the introduction of a 5% down payment as a pilot in 1992, extended and finalized in 1999 -time home buyers. CMHC also expanded its activities internationally and launched the Canadian Housing Export Center (later renamed CMHC International) to share Canada’s housing expertise with the world.

Housing affordability received a boost in 2001 through CMHC’s introduction of Canada Mortgage Bonds, aimed at ensuring the supply of low-cost mortgage funding and keeping interest low.

In 2002, CMHC was recognized for its innovative work, receiving the Conference Board of Canada’s National Award in Governance in the Public Sector, which was presented to boards of directors who have demonstrated excellence in governance and have implemented innovations in their governance practices.

Homelessness, assisted housing and Aboriginal housing gained more prominence in the first half of the decade. In 2003, the federal-provincial affordable housing program began, with $ 1 trillion.

In 2005, CMHC introduced a 10 per cent “green refund” on Mortgage Loan Insurance premiums for homeowners who buy or build an energy-efficient home, or who make energy-saving renovations to their existing homes. [8]

CMHC is a small, medium-sized, multi-family, multi-family, multi-family, multi-family home. Pilot designed to increase market housing on-reserve.

Mortgage Loan Insurance

CMHC’s Mortgage Loan Insurance is an investment-grade mortgage lending asset. CMHC ‘s commercial operations contribute to the Government of Canada’ s fiscal position through its net income and income taxes paid.

Mortgage loan insurance is mandatory for federally regulated lenders in canada when the buyer of a home has less than 20 per cent down payment. [9] This insurance protects the mortgage lender against loss, and allows qualified borrowers to access homeownership.

As a public mortgage insurer, CMHC has a mandate to provide service in all parts of the country and for a range of housing forms. [9] A significant portion of CMHC’s mortgage loan insurance business is in markets or for housing options that are not served by private mortgage insurers. In addition to being the primary insurer for housing in small and rural communities, CMHC is the only insurer of mortgages for multi-unit residential buildings, student housing and nursing and retirement homes.

Affordable Housing

The Government of Canada is committed to ensuring that all Canadians have access to their homes.

CMHC, on behalf of the Government of Canada, invests approximately $ 2 billion annually to help reduce the number of Canadians in housing need. This includes significant funding for social housing. Ongoing subsidies are provided under 25 to 50 year agreements with housing groups that provide affordable housing to those in need. Approximately 80 per cent of the existing social housing portfolio is administered by provinces and territories under long-term agreements with CMHC. The remaining 20 per cent is administered by CMHC and includes the portfolio and certain federally funded housing units off-reserve, such as housing cooperatives. [10]

CMHC provides funding to provinces and territories under the Investment in Affordable Housing (IAH). [10]

CMHC also supports affordable housing through low-cost loans to federally assisted social housing sponsors to finance new projects on-reserve or to renew existing financing. [10]

CMHC ‘s Affordable Housing Center works with the private, public and non – profit sectors.

First Nations Housing

To help improve living conditions for Aboriginal people in Canada, CMHC works closely with First Nations communities, other federal partners, provinces and territories and Aboriginal organizations.

Through CMHC the federal government provides funding for the First Nation communities. CMHC’s funding supports the construction of new rental housing, the renovation of existing homes, and the ongoing development of social housing. [11]

CMHC’s On-Reserve Non-Profit Housing Program. First Nations in the construction, purchase and rehabilitation of First Nations communities. CMHC provides a support to the project to assist with its financing and operation. [11]

Policy and research

CMHC facilitates the development and implementation of federal housing policy to help Canadians meet their housing needs. This includes the examination of housing finance and the options for regulations, incentives and securitization tools in the primary and secondary markets; The analysis of distinct housing needs of specific populations, as well as low-income households, and how these needs can be addressed; And the identification of practical approaches to advancing sustainable technologies and practices in the housing sector. [12]

CMHC provides regular market analysis and forecasts at the local, provincial and national levels. [12] These activities support informed business decisions, policy development and delivery programs.


CMHC contributes to a stable, well functioning and competitive housing finance system in Canada by helping ensure that financial institutions have access to an adequate supply of funds for mortgage lending. These programs also provide investors with opportunities to hold high quality, secure investments that support the Canadian residential mortgage market.

CMHC ‘s securitization guarantee programs enable approved financial institutions to pool eligible mortgages and transform them into marketable securities that may be sold to investors. The Mortgage-Backed Securities Issued by Financial Institutions and Canada Mortgage Bonds Issued by the Government of Canada, through CMHC. [13]

CMHC also administers the legal framework for Canadian government bonds on behalf of the Government of Canada. Introduced in 2012, the framework supports financial stability by helping lenders to further diversify their sources of funding and by attracting more international investors, making the market for covered bonds more robust. [13]

Recent developments

As part of Budget 2016, the Government will make several initiatives that CMHC will be delivering: [14]

  • Affordable Housing – A total of $ 1.4B over two years starting in 2016 broken down as follows: $ 504.4 million related to measures to support the construction of new affordable housing units, $ 100,000 Canadian households;
  • $ 200.7 million to support the construction, repair and adaptation of affordable housing for seniors which is expected to improve housing conditions for more than 5,000 low-income households;
  • $ 89.9 million for the construction and renovation of over 3,000 shelters for victims of family violence;
  • $ 573.9 million for retrofits and renovations to existing homes provided under our Social Housing Activity to address the increasing demand for repairs, lowering utility costs and making housing more affordable; and
  • $ 30 million to help federally administered providers maintain rent-geared-to-income for low-income households living in social housing.
  • Up to $ 500 million per year for five years to provide low cost loans to municipalities and housing developers for the construction of new affordable housing projects. This initiative would encourage the construction of affordable housing by making low-cost capital available to developers during the earliest, most risky phases of development.
  • $ 208.3 million over five years to be invested in an Affordable Rental Housing Innovation Fund that would be used to test innovative business approaches – such as housing models with a mix of rental income and home ownership.
  • Northern & Inuit Housing – $ 177.7 million over two years starting in 2016 to address urgent housing needs in the North and Inuit communities.
  • On-Reserve – $ 137.7 million over two years starting in 2016 to support the renovation and retrofit of existing housing and $ 10.4 million over three years starting in 2016 to support the renovation and construction of new shelters for First Nations communities.
  • Up to $ 30 million over three years, starting in 2016-2017, to help homeowners dealing with costly structural problems in their homes as a result of the mineral pyrrhotite in their foundations.
  • $ 5 million for 2016-2017 to support internships for up to 625 Indigenous youth. The additional funding for CMHC’s Housing Internship Initiative for First Nations and Inuit Youth (HIIFNIY) comes from the $ 165.4 million investment under the Youth Employment Strategy announced in Budget 2016.

See also

  • Granville Island – managed by CMHC
  • Rainwater harvesting in Canada


  1. ^ Jump up to:b “Our Management Committee” . Canada Mortgage and Housing Corporation.
  2. Jump up^ “History of CMHC” . Canada Mortgage and Housing Corporation . Retrieved 14 November 2014 .
  3. Jump up^ Canada Mortgage and Housing Corporation . CMHC . Retrieved 5 June 2017 . Missing or empty( help ) |title=
  4. Jump up^ “History of CMHC | CHMC” . CMHC . Retrieved 2016-10-19 .
  5. Jump up^ “History of CMHC | CHMC” . CMHC . Retrieved 2016-10-19 .
  6. Jump up^ Jill, Wade, (1984-01-01). “Wartime Housing Limited, 1941-1947: An Overview and Evaluation of Canada’s First National Housing Corporation”. Doi : 10.14288 / 1.0096317 .
  7. Jump up^ McGeachy, Robert. “CMHC in Ajax, Ontario: 1948-1950”. Ontario History . 98 (2): 209-224.
  8. Jump up^ “CMHC – Energy-efficient Housing Made More Affordable with Mortgage Loan Insurance | CMHC” . CMHC . Retrieved 2016-10-19 .
  9. ^ Jump up to:b “Mortgage Loan Insurance | CMHC” . CMHC . Retrieved 2016-10-19.
  10. ^ Jump up to:c “Affordable Housing | CMHC” . CMHC . Retrieved 2016-10-19 .
  11. ^ Jump up to:b “First Nation Housing | CMHC” . CMHC . Retrieved 2016-10-19 .
  12. ^ Jump up to:b “Policy and Research | CMHC” . CMHC . Retrieved 2016-10-19 .
  13. ^ Jump up to:b “Securitization | CMHC” . CMHC . Retrieved 2016-10-19 .
  14. Jump up^ “CMHC 2015 Annual Report | CMHC” . CMHC . Retrieved 2016-10-19 .