CMHC Releases 2016 First Quarter Results
(firmenpresse) - OTTAWA, ONTARIO -- (Marketwired) -- 05/30/16 -- Canada Mortgage and Housing Corporation (CMHC) released its first quarter financial results today as well as supplemental data on the Corporation''s Mortgage Loan Insurance, Securitization, and Covered Bonds business activities.
CMHC''s mortgage loan insurance and securitization guarantee programs facilitate access to mortgage financing and contribute to the stability of the financial system. These programs operate on a commercial basis without support from Canadian taxpayers. During the quarter, CMHC generated $313 million in net income from these activities.
Report Highlights
Subsequent to quarter''s end, Fort McMurray, Alberta was affected by wildfires. CMHC has provided lenders with a number of options to support CMHC-insured homeowners touched by these unfortunate events. Claim losses to CMHC are not expected to be significant as lenders work directly with borrowers to address any required repairs, recoup losses under existing property insurance policies and access any disaster relief, emergency funds and/or other assistance as available and appropriate. Additional background information on the impact of the Fort McMurray fires can be found at the end of this Release.
CMHC also works closely with provinces, territories and housing providers, including First Nations, to help low-income Canadians access affordable, better quality housing. For the three-month period ended March 31, 2016 CMHC provided more than $589 million for housing programs on behalf of the Government of Canada.
The and supporting business supplements are available online.
This release includes .
CMHC''s Mortgage Loan Insurance, Securitization and Covered Bond business supplements offer additional data on CMHC''s commercial activities to help readers better understand our business. Canada Mortgage and Housing Corporation (CMHC) has been Canada''s national housing agency for almost 70 years.
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 information to Canadian governments, consumers and the housing industry. Prudent risk management, strong corporate governance and transparency are cornerstones of our operations.
For more information, visit our website at or follow us on , , and .
QUOTE
"CMHC helps Canadians meet their housing needs. The first quarter of 2016 saw us provide mortgage loan insurance to 83,000 homebuyers across the country, deliver $589 million through our assisted housing programs and guarantee $21.8 billion in new securities. Each of these outcomes contributes to our vision of being the heart of a world-leading housing system."
A table is available at the following address:
Contacts:
Karine LeBlanc
CMHC Media Relations
613-740-5413
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Datum: 30.05.2016 - 07:00 Uhr
Sprache: Deutsch
News-ID 1438140
Anzahl Zeichen: 2499
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OTTAWA, ONTARIO
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Commercial Real Estate
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