Canada Mortgage and Housing Corporation (CMHC) is a Canadian government agency. The agency is responsible for the housing industry in Canada. Its main duty is currently to ensure low cost mortgages are available to Canadians by providing insurance to lenders in case of defaults and homebuyer assistance. Since 1954 one in three Canadian home buyers have made use of CMHC's programs. The CMHC also has a large research wing that analyses the housing situation in Canada and housing design and technologies. System of government Canada is a constitutional monarchy as a Commonwealth Realm (see Monarchy in Canada) with a federal system of parliamentary government, and strong democratic traditions. ... An agency is a department of a local or national government responsible for the oversight and administration of a specific function, such as a customs agency or a space agency. ... Houses in Fishpool Street, St Albans, England For other meanings of the word house, see House (disambiguation). ... Introduction A mortgage is a device used to create a lien on real estate by contract. ...

The Minister of Labour and Housing is responsible for the maintenance of the agency. In the Cabinet of Canada, the Minister of Labour is responsible for setting national labour standards and federal labour dispute mechanisms. ...

CMHC headquarters, at Montreal Road and the Aviation Parkway, Ottawa

Image File history File links Download high resolution version (747x903, 175 KB)Taken by SimonP in March 2005 File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Image File history File links Download high resolution version (747x903, 175 KB)Taken by SimonP in March 2005 File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Motto: Advance Ottawa/Ottawa en avant Coordinates: Country Canada Province Ontario County Established 1850 as Bytown City Mayor Larry OBrien Governing body Ottawa City Council MPs / MPPs Members of Parliament (MPs) Mauril Bélanger (LPC), Paul Dewar (NDP), John Baird (CPC), Royal Galipeau (CPC), David McGuinty (LPC),Pierre Lemieux...

History

Near the end of World War II, the Canadian government began to worry about the demobilization of thousands of soldiers in Europe, and their re-entrance to Canadian society. With so many people coming back to Canada, a number of problems would arise, one being that there may not be enough housing existing to accommodate the soldiers and their desire to have families. Combatants Major Allied powers: United Kingdom Soviet Union United States Republic of China and others Major Axis powers: Nazi Germany Italy Japan and others Commanders Winston Churchill Joseph Stalin Franklin Roosevelt Harry Truman Chiang Kai-Shek Adolf Hitler Benito Mussolini Hideki Tojo Casualties Military dead: 17,000,000 Civilian dead...

The agency was created in 1946 in response to housing demands after the return of World War II veterans and societal changes after the war included a policy that every family in Canada have their own home. The CMHC was founded in 1946 to help veterans returning from the Second World War find housing. In 1946, the federal government created the CMHC to aid in the management and finance of housing projects in Canadian cities. It took over the assets of the Wartime Housing Ltd., that had built thousands of houses during the war. Upon creation, the Corporation was named the Central Mortgage and Housing Corporation. 1946 (MCMXLVI) was a common year starting on Tuesday. ... Combatants Major Allied powers: United Kingdom Soviet Union United States Republic of China and others Major Axis powers: Nazi Germany Italy Japan and others Commanders Winston Churchill Joseph Stalin Franklin Roosevelt Harry Truman Chiang Kai-Shek Adolf Hitler Benito Mussolini Hideki Tojo Casualties Military dead: 17,000,000 Civilian dead... 1946 (MCMXLVI) was a common year starting on Tuesday. ... A veteran (from Latin vetus, meaning old) is a person who is experienced in a particular area, and is particularly used to refer to people in the armed forces. ... Mushroom cloud from the nuclear explosion over Nagasaki rising 18 km into the air. ...

In 1954, the federal government changed the National Housing Act. The amendment removed the federal government from the direct finance of housing projects, instead leaving mortgage financing to the banks. The banks began to issue mortgage loans. If the individual receiving the loan went bankrupt then the bank who gave the loan would not lose money, but instead would be reimbursed by the government. Now individual families in a multitude of salary ranges could afford to buy homes. 1954 (MCMLIV) was a common year starting on Friday of the Gregorian calendar. ... The Federal Housing Administration was begun as part of the New Deal in 1934. ...

In 1979, the Corporation's name was changed from the Central Mortgage and Housing Corporation to Canada Mortgage and Housing Corporation. This page refers to the year 1979. ...

Importance in Canadian public sector

The CMHC is the second largest crown corporation after Canada Post in terms of revenue with some $4.6 billion in 2004. It is the largest crown corporation in terms of assets with some $26 billion in holdings. The CMHC influenced the development of Canadian housing projects (see below). Furthermore, the federal Government of Canada often uses the CMHC as a financial agent. Canada Post logo Canada Post (French: Postes Canada) is a Canadian postal service operated as an independent crown corporation. ...

Influence over housing projects

The CMHC provides assistance and guidance to the private sector in the building, design and planning of houses. Thus provincial governments have aligned their housing standards and planning practices along those of the CMHC. The CMHC also makes financial loans to cities at low- and middle-interest rates for the development of housing projects. Thus, both the cities and provinces in Canada rely on the CMHC for the continuation of housing development in the areas under their jurisdiction. This alignment has had a number of influences on Canadian housing in general: The private sector of a nations economy consists of those entities which are not controlled by the state - i. ...

• Development of the policy of every Canadian family having a home.
• Development of a national building code
• With the insurance of mortgages and 90%/10% downpayment standard the suburbanization of Canadian cities was possible
• Building experimental houses for new and improved building techniques and technology
• Often acts as a developer, but this function is diminishing.
• Influences the socio-economic differentiation in cities by approving low-cost housing projects only when placed where they desire. For example, the Calgary municipal government wanted to develop the NE portion of the city as a high-cost housing market due to the view of the Rocky Mountains. However, the CMHC, in loaning money to Calgary, decided that the development should instead be focused around low-cost housing projects.

Calgary is the largest city in the province of Alberta, Canada. ... Moraine Lake, and the Valley of the Ten Peaks, Banff National Park, British Columbia, Canada The Rocky Mountains, often called the Rockies, are a broad mountain range in western North America. ...

Large Projects

Among its early projects was the Regent Park project in Toronto. Regent Park in Winter Alternate uses: Regent Park (disambiguation) Regent Park is a neighbourhood located in downtown Toronto, Ontario, Canada. ...

External links

• Canada Mortgage and Housing Corporation Official website
• Report questioning the accuracy and biases of CMHC studies