The short answer is that every time you look at one of the cases, you see that there are issues, often on both sides of the table. CMHC often tends to get blamed for things that are beyond their control, like capital structures or the level of risk that a not-for-profit is putting forward.
There are a lot of dynamics in putting a transaction together. It's very hard for me to answer at that level. Specific cases have specific answers.
