Certainly.
In terms of our submission, we actually engaged two academics to research this issue for papers. One was a known Canadian real estate economist by the name of Frank Clayton, and the other, Dr. Susan Wachter, was a specialist on real estate finance out of the Wharton School of Business.
Their research concluded that the mandatory mortgage insurance requirement itself benefited Canadians by creating a large pool of insured risk that lowered the premium for all Canadians, and thereby allowed Canadians, notwithstanding their credit history or geographical location, to enjoy the same access to credit across the country. That was a very strong point, and that was where we saw the mandatory mortgage insurance requirement playing an important role in the Canadian economy.
When it comes to the threshold, obviously when you reduce the size of the pool, you take away from that. You end up with more people on the outside--who may be in a geographic area that's not an urban centre, or have worse credit--finding higher costs as a result of being pulled out of the pool due to the mandatory mortgage requirement.