That is why I mentioned this. CMHC's situation has not changed and regardless, it has a social mandate, that is, for example, to assist those families who have a harder time in saving enough money for a down payment. You require a lower percentage of the mortgage than Genworth does. The situation wouldn't change for you but it would certainly be fairer for those wishing to enter into the market place and compete with Genworth, and even offer more innovative products than those currently being offered, with premiums going down over time, for example. What does the fact that other businesses would like to have access to a share of the market change for CMHC? It changes absolutely nothing. It would, however, improve the chances of making a profit for those businesses which, too, would like to benefit from the same treatment Genworth benefits from. Furthermore, there may be more interesting products and better rates for those markets that you are not currently involved with. Is my analysis correct?
On May 29th, 2006. See this statement in context.