Finance committee  We support this as a lender.

Finance committee  No. Desjardins does not ensure mortgages. We provide general fire insurance.

Finance committee  The more players there are on the market, the more the lenders will be able to develop products that will have to be offered at competitive prices and that is something consumers will benefit from. I gave you the example of a shared-risk product that we developed with Genworth

Finance committee  We want to make sure that participants offering mortgage insurance on the market not become lenders at a later stage.

Finance committee  More or less. In reality, when we insure loans, we provide all our information on the borrowers to the insurers. They are therefore privy to confidential information and if they started providing loans, then there would not be fair competition.

Finance committee  I would have something to add.

Finance committee  I have several questions about the benefit to consumers. Let's take two products as an example. The CMHC currently provides the insurance for the rental market whereas Genworth doesn't. From the lenders perspective, the CMHC ensures the rental market, and the borrowers get a be

Finance committee  I could give you Desjardins's example. We are present throughout Quebec, including in the rural regions. The CMHC used to ensure all our loans. In 2000, when we signed an agreement with Genworth, we required that they ensure the loans in all of Quebec's regions, and we made sure

Finance committee  It would give it more teeth.

Finance committee  Thank you, Mr. Chairman. My name is Noël Roy and I am responsible for the development of Desjardins' mortgage financing product. I would first like to thank the finance committee for their invitation to appear this afternoon. With some 5.5 million owner- members, consumers and