OTTAWA, ONTARIO--(Marketwired - May 9, 2016) - Canada Mortgage and Housing Corporation (CMHC) today released its 2015 Annual Report titled "Why Housing Matters".

As part of building a stronger CMHC, 2015 saw the Corporation make important progress in addressing housing market data gaps, assist 546,400 households through long-term commitments and insure mortgage loans for 304,518 homes - all of which helped Canadians meet their housing needs.

Report Highlights

  • Net Income was $1.4 billion for the year ended 31 December 2015.
  • Total insurance-in-force, which represents the aggregate exposure of the mortgage loan insurance activity, stood at $526 billion as at 31 December 2015.
  • In 2015, CMHC provided $115.7 billion in guarantees through its securitization programs. These guarantees help both small and large lenders access funds for residential mortgage lending, supporting competition in the mortgage market and contributing to the stability of the financial system.
  • In 2015, CMHC published results of its expanded stress testing exercise for the first time, both to be accountable and to invite improvements to its risk management approach. None of the extreme scenarios tested would deplete CMHC's capital below the minimum target of 100% -- on par with minimum levels mandated by the Office of the Superintendent of Financial Institutions for private competitors.
  • The federal government, through CMHC, provided investments of more than $2 billion for housing in 2015. This included funding in support of existing social housing and funding for new commitments of affordable housing.

What's more, CMHC continued to enhance its risk management framework in order to reduce taxpayer exposure.

Over the past decade, CMHC has provided $21 billion toward improving the government's fiscal position; $19 billion of this contribution was provided through the mortgage loan insurance activity.

CMHC's 2015 Annual Report is available online at or by calling 1-800-668-2642.

This release includes video.

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 advice to Canadian governments, consumers and the housing industry. Prudent risk management, strong corporate governance and transparency are cornerstones of our operations.

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"I am extremely proud of our collective achievements in 2015. We demonstrated solid results across all areas of our business. The future is very encouraging with our government making a substantially larger investment in social housing in the last Federal Budget. This renewed confidence in CMHC's ability to be the agent of housing change in Canada is a responsibility we take very seriously."

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

CMHC in 2015
Financial Highlights
Total Assets ($M) 252,107
Total Liabilities ($M) 232,468
Total Equity ($M) 19,639
Net Income ($M) 1,488
Assisted Housing
Amount provided by the federal government through CMHC for housing programs ($M) 2,049
Mortgage Loan Insurance
Number of units insured 304,518
Insurance-in-force ($B) 526
Average equity in CMHC's insured transactional homeowner and portfolio (%) 46
Average credit score at origination for CMHC's transactional homeowner loans insured in 2015 747
Average outstanding loan amount ($) Average arrears rate (%) 173,415
Total guarantees-in-force ($B) 431
Annual securities guaranteed ($M) 115,722

Contact Information:

Media inquiries:
Karine J. LeBlanc
CMHC Media Relations