Thank you very much, Mr. Chair.
I'd like to thank the witnesses for joining us. This has been a very informative study we're doing, and I appreciate your participating in it.
I wanted to follow up with the Assiniboine Credit Union about the CMHC mortgage loans. It's not my area of expertise, but my understanding is that a long time ago, the CMHC approved certain projects and funded the building of these social housing projects. I consider that to be a high-risk endeavour just because, as you were mentioning, there was no capital you could actually put your hands on. Indeed, it hadn't been built yet. They then built the loan into a long-term mortgage to perhaps reduce the cashflow burden on the social housing cooperatives. Then you made a recommendation that CMHC should negate the penalties when the social housing co-ops ask to break the terms of their mortgage.
As a financial institution, you've got clients who hold mortgages with you. If your clients came to you and asked to break their existing mortgages with you, would you negate the penalties?