2014 Annual Report

“Guided by our mission and vision, we pursued challenging goals for CMHC in 2014. Our activities and accomplishments for the year are discussed throughout this report. ”

— Evan Siddall, President and Chief Executive Officer


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2014 Achievements

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  • CMHC: Canada’s authority on housing
  • Our mission: We help Canadians meet their housing needs
  • Our vision:  The heart of a world-leading housing system

CMHC contributes to market efficiency, a sound and stable housing finance system, and increased housing quality and sustainability.

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Market Analysis and Research

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  • CMHC is the leading voice in Canadian market analysis and housing research. This year, we continued to improve the availability of information on Canada’s housing markets.

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  • Launch of the Housing Market Information Portal - free, flexible, comprehensive housing data

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  • Release of the House Price Analysis and Assessment Framework - to assess housing market conditions: overheating, price acceleration, overvaluation, overbuilding

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  • 1,849,453 Housing Research Information Products downloaded or distributed
  • 662,608 Market Analysis Publications downloaded or distributed

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Assisted Housing

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  • In support of housing programs on and off reserve, CMHC spent just over $2 billion on behalf of the Government of Canada.

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  • 570,950 households supported under long-term social housing commitments, including 27,750 on reserve

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  • 496 new units committed under the On-Reserve Non-Profit Housing Program

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  • 3,154 new units facilitated through CMHC’s Affordable Housing Centre

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  • CMHC worked with provinces and territories to extend bilateral Investment in Affordable Housing agreements to 2019.   

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  • Since April 1, 2011 to December 31, 2014, 217,772 households are no longer in housing need as a result.

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Mortgage Loan Insurance

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  • Providing Canadians with access to financing for a range of housing options in all parts of Canada – including affordable housing, homeownership and rental housing
  • In 2014, we made important changes to our mortgage loan insurance business. This included premium adjustments, changes to policies for low-ratio insurance, and the discontinuation of some products.

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  • 308,820 units insured

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  • High-quality mortgage loan insurance portfolio:
    • 46% average equity
    • 0.35% arrears rate
    • average credit score: 731 transactional homeowner; 760 portfolio

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  • CMHC’s Securitization programs provide a reliable source of long-term mortgage funding for residential mortgage lenders.

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  • $78.6 billion National Housing Act Mortgage-Backed Securities (NHA MBS)
  • $39.0 billion Canada Mortgage Bonds (CMB)
  • $117.6 billion securities guaranteed

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People and Processes

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  • One of the Top Employers in the National Capital Region

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  • One of Canada’s Best Diversity Employers

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  • One of Canada’s Most Admired Corporate Cultures

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  • Initiated a multi-year program of change that will result in: a focused role, an accountable culture, enabled people and efficient processes
  • Implemented 15 employee-generated ideas to improve our business and workplace
  • Launched a five-year I&T strategic investment plan
  • Introduced the Three Lines of Defence risk governance model to become best-in-class risk manager

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  • Build, Lead, Succeed

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