Following a report by the OECD which said the Canada Mortgage and Housing Corporation puts taxpayers at risk, Evan Siddall, President and CEO of CMHC says the company is there as a safeguard of the housing market and is there to help all Canadians.
Siddall says that they have restored CMHC to its core values of helping Canadians' housing needs rather than their wants, and they have reduced exposure to low ratio loans.
Referring to the economic downturn, he said that the CMHC helped protect the wider economy during tough times and, looking to the future, he says it is vital that the company is focused and ready to tackle whatever economic challenges occur.
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