That is a very good question. Primarily, the goal for consumers is to introduce more choice and competition in the marketplace. However, to do so would be unwise absent prudent oversight framework, prudent financial reporting standards, and prudent capital standards.
If we reflect back to the state of the market in the mid-2000s, interest rates were very low and lenders were underwriting business that many of us would see as excessively risky today. In fact, it proved necessary subsequently for the government of the day to pressure CMHC not to underwrite 40-year mortgages on their own behalf, and in fact to wind down the maximum amortization periods and to limit the number of high-value-ratio loans--in other words, to impose higher down payments on all market participants. A prudently managed marketplace is absolutely essential to the framework.