Vote 10 is a change from the previous estimates, which named two insurance companies in the mortgage insurance business as being GE Capital, now Genworth, and CMHC. And now we're changing the wording of that to throw this open to more competition, I presume.
There are some issues here that concern me a little bit, because right now half of all the mortgages being insured in this country are basically high-ratio mortgages. And we have a real estate market that's gone nuts, and we have housing prices that are the highest ever. It strikes me that high-ratio mortgages are now an issue of some importance, and particularly if the real estate market starts to unwind, the Government of Canada has a potentially huge liability on its hands. So we need to be fairly careful as we open up this area to more competition.
So my questions are pretty simple. Have you consulted with the stakeholders prior to this being put before us? In other words, have the existing companies in the mortgage insurance field been able to offer their input into this change?