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.
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; $19 billion of this contribution was provided through the mortgage loan insurance activity.
CMHC's 2015 Annual Report is available online at www.cmhc.ca/annualreport or by calling 1-800-668-2642.
This release includes video.
CMHC helps Canadians meet their housing needs. As Canada's authority on housing, we contribute to the stability of the housing market and financial system, provide support for Canadians in housing need, and offer objective housing research and advice to Canadian governments, consumers and the housing industry. Prudent risk management, strong corporate governance and transparency are cornerstones of our operations.
"I am extremely proud of our collective achievements in 2015. We demonstrated solid results across all areas of our business. The future is very encouraging with our government making a substantially larger investment in social housing in the last Federal Budget. This renewed confidence in CMHC's ability to be the agent of housing change in Canada is a responsibility we take very seriously."
Brian Naish, Chief Financial Officer, Canada Mortgage and Housing Corporation
|ANNUAL REPORT HIGHLIGHTS|
|CMHC in 2015|
|Total Assets ($M)||252,107|
|Total Liabilities ($M)||232,468|
|Total Equity ($M)||19,639|
|Net Income ($M)||1,488|
|Amount provided by the federal government through CMHC for housing programs ($M)||2,049|
|Mortgage Loan Insurance|
|Number of units insured||304,518|
|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|