There were a number of business models that were substantially based, for example, on refinancing. I gather some testimony has referred to refinancing as something that has been lost.
I want to distinguish between renewal and refinancing. If an individual comes to the end of their mortgage term and seeks to renew, they can still do that. That's freely within the programs that we have in homeowner transactional insurance and portfolio insurance.
Refinancing is where somebody goes to a bank and wants to borrow money and increase the amount of indebtedness of their home. Our contention is that's not a housing need that we think CMHC exists to provide. That is a housing want, and that can be provided and still is freely available in the public markets. However, to the extent that there's government support for it, that didn't strike us as something that the government should be supporting.