Canada Mortgage and Housing Corporation (CMHC) today released its 2012 Annual Report, highlighting the Corporation’s role in contributing to a stable housing finance system and in promoting an efficient housing market.

“Providing a detailed examination of CMHC’s performance in 2012, this report includes in-depth information on CMHC’s mortgage loan insurance and securitization activities that have promoted an accessible, competitive and stable mortgage market throughout Canada,” said Karen Kinsley, President and Chief Executive Officer of CMHC. “At the same time, the quality of the loans in our insured portfolio underscores our ongoing commitment to robust underwriting and risk management practices.”

CMHC helps ensure the stability and efficiency of Canada’s housing finance system by managing its mortgage loan insurance and securitization activities in a responsible, commercially viable manner, while minimizing risk to Canadian taxpayers. CMHC does this while continuing to be the only insurer of loans for large multi-unit rental properties, including nursing and retirement homes. In addition, a significant percentage of CMHC’s high ratio homeowner units are in rural areas and smaller communities. Together, these types of loans made up 47.2% of CMHC’s total rental and high ratio homeowner business in 2012.

In 2012, the mortgage loan insurance activities accounted for most of CMHC’s net income of $1.716 billion. Over the past 10 years, CMHC has contributed $17 billion towards improving Canada’s fiscal position.