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payment calculator: CMHC Finally Gets A Babysitter – Vancouver - 07/22/11 07:45 PM
Apparently, the finance ministry’s legal oversight of the pink elephant, aka CMHC, was long overdue…
In March, Maclean’s warned that the Canada Mortgage and Housing Corporation, the quasi-governmental insurer that underwrites $500 billion of residential mortgages, answers to no one—not Canada’s top financial regulator or even the minister of finance. That all quietly changed last month when Ottawa passed a law that puts the CMHC strictly under the watchful gaze of both the finance minister and the Office of the Superintendent of Financial Institutions (OSFI).
With the new law, CMHC must hand over “prescribed books, records and information” and make those … (1 comments)

 
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Mark Fidgett

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