Finance committee  It's very unusual in a recession, but the default rates have not increased during this recession. That's very unusual, given the very specific circumstances of this pandemic.

Finance committee  I think this recession has been a bit different in that the people who have experienced unemployment have not been in predominantly the lower quintiles of our income distribution. We've seen the impact that the pandemic has had on people who work in the services sector or other j

Finance committee  If I may, I would ask my colleague, Mr. Dugan, to respond to the subject of investors in the real estate market, and real estate investment trusts in particular.

Finance committee  Absolutely.

Finance committee  No.

Finance committee  The premium is paid by the homeowner and, typically, it's added on to the principal of the mortgage.

Finance committee  I appreciate your concern about the risks associated with the mortgage insurance business. I want to reiterate the belief that CMHC has in our risk management practices and that we take our exposure to Canadian taxpayers very seriously—

Finance committee  Unfortunately, I'm not able to answer that question.

Finance committee  My apologies, Mr. Chair. I can't comment on whether the program would be extended or expanded, but I can comment on the level of demand. We have had two rounds of the rapid housing initiative through the pandemic. It is targeted to homes for the homeless or people at risk of ho

Finance committee  The answer is no. We don't have a specific mechanism built into CMHC, but we have done a lot of research and we have staff who are very knowledgeable about local issues.

Finance committee  Mr. Chair, I believe Ms. Chatel has done a good job of summarizing issues that can often exist at the local level. I think that CMHC is not in a position to resolve them, but I think we can provide support by working with municipalities and provinces to make the development proce

Finance committee  In terms of rural areas, I think that currently there is a shortage. We have a bit of a supply chain disruption because of the pandemic and, in addition to that, in many rural areas—and actually in cities as well—there's a shortage of the skilled labour required in the constructi

Finance committee  The mortgage insurance business is a very important part of our business. During the last financial crisis, CMHC's market share grew very substantially. At one point, because there was the withdrawal of private insurers, CMHC had about 90% market share of the insured space. Since

Finance committee  I am not familiar with those specific roles. Those predate my role as CEO. I can certainly get back to you to determine CMHC's involvement. Generally building codes are not within our area of responsibility, but we may have been consulted. I'll have to check.

Finance committee  At the federal government level, we have an FPT housing forum. It's a very good opportunity for the CMHC and the federal government to connect with housing authorities at the provincial and territorial levels. We also work very closely with the Federation of Canadian Municipaliti