Thanks very much indeed for the introduction, Mr. Chair, and thank you for the opportunity to address the committee today.
Mortgage Professionals Canada is a national industry organization representing mortgage brokers, mortgage lenders, mortgage insurers and technology service providers in that channel in Canada.
As all of you will likely know, MPC has for some time now been asking for a number of changes to the mortgage macroprudential rules, primarily a reduction in the mortgage rules stress tests; the reintroduction of a mortgage insurance-eligible 30-year amortization for first-time buyers; a stress test exemption for borrowers who have paid, as agreed to, the first term of their mortgage and who wish to renew with a different lender; and an increase in the RRSP withdrawal limit under the homebuyers' plan, which was granted in budget 2019.