CMHC head says banks should share risk


Canada's banks should share more  of the risk on home mortgages and the Canada Housing and Mortgage Corp. is looking into new formulas to make that happen, according to the head of the federal housing agency.  Evan Siddall, who became president and CEO of CMHC in December 2013, said the prospect of privatizing  the agency is not on the table, but the government has expressed interest in reducing its role in the housing market.  That may mean creating new formulas to shift part of the risk for insured mortgages to the banks.

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Michael James

Michael James

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