Finance committee  As a mortgage broker, we see—

Finance committee  Not applying but certainly qualifying. If I could go back to your first question, most first-time homebuyers, at least in Atlantic Canada or in my neck of the woods, which is Halifax, are coming in with 5%. The problem is that it's a ripple-up effect. If that first-time homebuyer

Finance committee  The first thing I want to point out is the huge difference between a mortgage broker and a mobile mortgage specialist.

Finance committee  Respectfully, sir, you should ask about the mortgage broker because a mortgage specialist is different.

Finance committee  We don't compensate mortgage mobile specialists because we are not them and we don't utilize them. We are mortgage brokers. There is a difference, sir. You need to understand that.

Finance committee  No, sorry, we're less concerned about our business than we are about the Canadian consumer and the housing market itself.

Finance committee  I'd like to start with that. I keep hearing about this income-to-debt ratio. For me, that is a red herring. There are two types of debt in this country. There's good debt and there's bad debt. First off, who knows how that ratio is calculated? I was in a meeting with the CMHC

Finance committee  Well, you asked a question about the debt, and I would like to answer it. Respectfully, there's bad debt. I want to get on to this. This is an important fact that you guys are missing.

Finance committee  I certainly don't see any harm in having the minister present.