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 better rate if they are insured. However, the CMHC did not want to develop a shared-risk product. Genworth did, and borrowers benefited from a 40 per cent decrease in their premiums. Some lenders have used those initiatives and it is the consumers who have benefited from them in the end.