I thought it was a terrible idea. I thought it indicated at that point why CMHC needs to be regulated by another authority, perhaps the Superintendent of Financial Institutions. I think any mortgage insurance company that will go to zero down or a 40-year amortization has demonstrated that they do not understand the mortgage market.
Any mortgage manager or person who makes mortgages will tell you that when you get below 10% down, you are getting into very dangerous territory, because, to use the slang, the owner doesn't have any skin in the game. That is to say, when you approach zero, your risk is going up exponentially, and it is very dangerous. They should never ever have done it.