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Canada Mortgage and Housing Corporation (CMHC), a Crown corporation of the Government of Canada, through the 1944 National Housing Act, the federal government already played a leading role in Canadian housing programs. As World War II veterans returned, CMHC's programs supported social and rental housing and created public housing program for low-income families. New housing was offered very low cost mortgages, small down payments and easy terms.〔J. M. Bumsted, "Home sweet suburb," ''Beaver,'' Oct/Nov 1992, Vol. 72 Issue 5, pp 26-34〕 It later built and/or funded urban renewal projects in Canada's cities. CMHC is regulated under the Financial Administration Act, the Canada Mortgage and Housing Act, and the National Housing Act. By 2013 the major role of the CMHC was to "improve housing quality, choice and affordability for all Canadians."〔 With an estimated 2013-2014 budget of $2.1 billion, over $2 billion is directed at providing assistance to Canadians in housing need while the balance supports "housing market analysis work and policy, research, and information transfer activities."〔 By 2010 CMHC had an annual financial surplus of more than $2 billion. CMHC is the largest Crown Corporation in terms of assets with some $26 billion in holdings as of 2008-2009.〔 and the second largest after Canada Post in terms of revenue with some $4.6 billion in 2004.〔 CMHC is governed by a Board of Directors and is accountable to Parliament through the Honourable Pierre Poilievre, Minister of Employment and Social Development. Previously the portfolio was held by the Minister of Labour and Housing. The board of directors and president are appointed by the Government of Canada. One of the main functions of CMHC is to manage the federal Mortgage Insurance Fund (MIF), which was introduced in 1954 to provide protection to banks reluctant to enter the mortgage lending market. Today its main function is to sell insurance to Canadian residential mortgage lenders to protect them against mortgage defaults. The cost of the insurance premiums is typically passed along to the borrower.〔http://www.cmhc-schl.gc.ca/en/co/moloin/moloin_005.cfm〕 Insurance is mandatory on loans with less than 20% down although lenders may require it on loans with more than 20% equity if they perceive additional risk of default). Besides mortgage insurance, the agency provides financing to housing projects and renovations, does housing market analysis and funds research into housing design and technologies along with the National Research Council. The mandate of CMHC, as Canada's national housing agency, includes facilitating accessibility to a "wide choice of quality, environmentally sustainable, affordable housing solutions." ==History== Near the end of World War II, the Canadian government began to worry about the demobilization of thousands of soldiers in Europe, and their re-entrance to Canadian society. With so many people coming back to Canada, a number of problems would arise, one being that there may not be enough housing existing to accommodate the soldiers and their desire to have families. The agency was created in 1946 in response to housing demands after the return of World War II veterans and societal changes after the war included a policy that every family in Canada have their own home. In 1946 when the Central Mortgage and Housing Corporation (changed to "Canada" Mortgage and Housing Corporation in 1979) was created, the National Housing Act had been in effect for two years. The cost and subsidies of CMHC's social and rental housing programs for low-income families, were shared 75% by the federal government and 25% by the province.〔 New housing was offered very low cost mortgages, small down payments and easy terms.〔J. M. Bumsted, "Home sweet suburb," ''Beaver,'' Oct/Nov 1992, Vol. 72 Issue 5, pp 26-34〕 It later built and/or funded urban renewal projects in Canada's cities. CMHC's role was to aid in the management and finance of housing projects in Canadian cities. It took over the assets of the Wartime Housing Ltd., that had built thousands of houses during the war. Upon creation, the Corporation was named Central Mortgage and Housing Corporation. During the war, Ajax, Ontario, was constructed and operated by Wartime Housing Limited (1941 to 1949) in order to provide much-needed housing for munitions workers and returning veterans. In 1948, CMHC was given responsibility for Ajax. Its biggest challenges in establishing Ajax as a functioning municipality were reimbursing Pickering Township and Ontario County for municipal services provided to Ajax and establishing an official plan for the growing community acceptable to relevant government agencies. After considerable controversy regarding land and water control, CMHC submitted a successful application to the Ontario Municipal Board in May 1950 making Ajax an improvement district. This was the first step toward municipal status and allowed CMHC to the depart.〔Robert. McGeachy, "CMHC in Ajax, Ontario: 1948-1950," ''Ontario History,'' Autumn 2006, Vol. 98 Issue 2, pp 209-224〕 In the 1950s and 1960s, CMHC was the agency that approved urban renewal projects for federal funding and managed the housing funds for that purpose. There are numerous examples across Canada including Regent Park in Toronto and Habitations Jeanne-Mance in Montreal. For further examples, see List of public housing projects in Canada. In 1954, the federal government amended the National Housing Act to remove the federal government from the direct finance of private housing projects, instead leaving mortgage financing to the banks. The banks thereafter began to issue mortgage loans with CMHC underwriting. If the individual receiving the loan went bankrupt then the bank who gave the loan would not lose money, but instead would be reimbursed by the government. As part of CMHC lending and insurance mechanisms, low-risk borrowers would have to pay insurance premiums if they wanted to borrow with small down-payments. In 1979, the Corporation's name was changed to Canada Mortgage and Housing Corporation. In the 1980s, the federal government withdrew from the financing of public housing projects. CMHC no longer directed funds to municipalities for the building of housing projects. Some government housing funds and mortgage guarantees since then have been provided for individual projects. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Canada Mortgage and Housing Corporation」の詳細全文を読む スポンサード リンク
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