I am informed by the Canada Mortgage and Housing Corporation, CMHC, and the Department of Indian affairs and Northern Development, DIAND, as follows:
As of November 30, 1999, 24 loans are currently in arrears. All of CMHC's activity on Indian reserves is based on a guarantee from DIAND. CMHC does not pay any claims on these accounts. Once CMHC is notified of an account in arrears, CMHC forwards this information to DIAND.
Since January 1, 1987, as guarantor, DIAND has paid for 18 CMHC loans for dwellings on Indian reserves that went in to default and for which DIAND is recovering payments from the first nations. With respect to loans taken by bands for which the band itself is guarantor, records are kept by the bands themselves.