In the first instance, we did not have cash necessarily. We borrowed from the government. They provide the cash, and then that cash is flowed to the lenders in return for the mortgages that we would be purchasing on behalf of CMHC.
Vice-President, Insurance Product and Business Development, Canada Mortgage and Housing Corporation
In the first instance, we did not have cash necessarily. We borrowed from the government. They provide the cash, and then that cash is flowed to the lenders in return for the mortgages that we would be purchasing on behalf of CMHC.
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