I would say that portfolio is of a high-quality nature, much like ours. The reason for that is that the regulator has been very active in this space for some time now and more recently, a couple of years back, introduced something called B-21, which has really helped to converge all levels of mortgage insurance underwriting to the same standard, in addition to B-20, which was rolled out for lenders. It has really raised the bar on mortgage underwriting as a whole. We can't really say that there are a lot of material differences between the portfolios of the three mortgage insurers.
On January 30th, 2017. See this statement in context.