Canada, CMHC, debt, economy, mortgage

Risk Management Experience? The CMHC needs your help.

145
145 Comments

We’ve talked recently about the shift in management over at the CMHC.

Bloomberg has an article about the Canadian Mortgage and Housing Corporation seeking a CEO with risk management experience.

Canada’s housing agency said it’s seeking a president and chief executive officer with risk management experience to oversee its C$563 billion ($544 billion) mortgage insurance portfolio.

The next CEO should have “knowledge of the financial management requirements, particularly risk management, of a large financial services organization,” Canada Mortgage & Housing Corp. said today in an advertisement in the Globe and Mail newspaper.

Finance Minister Jim Flaherty said last month the Office of the Superintendent of Financial Institutions will continue to monitor CMHC “very closely,” because it must operate like the country’s largest lenders. The government-backed agency, which had C$563 billion of insurance in force at the end of March, covers most Canadian mortgages and helps commercial lenders securitize home loans.

Read the full article here.

Hat tip to VMD.

Sort by:   newest | oldest | most voted
paulb
Member
paulb
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

New Listings 335
Price Changes 150
Sold Listings 180
TI:17944

http://www.paulboenisch.com

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
Anonymous
Guest
Anonymous
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Inventory plummeting! Is that what you guys mean by RE “collapse”?

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
Makaya
Member
Makaya
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Anonymous #2, -2.1% in Inventory is what you call “Inventory plummeting”?

Poor you, you must be desperate (or hungry?)…

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
crabman
Guest
crabman
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Yeah, the end of the month expired listings usually make the inventory drop. Even so, inventory is still the highest in years.

http://vancouverpeak.com/attachment.php?aid=136

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
Skook
Member
Skook
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

The Sunshine Coast is included in the REBGV listings numbers. The SC listings dropped by 27 over the last couple of days. I have come across many listings on the coast that have been on the market anywhere from 300 to up to 800 days. At some point, these have to be pulled and relisted. I am sure inventory will climb again in the next week or so.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
minotaur3
Member
minotaur3
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Sorry for the off-topic post, but what’s up with this site on Android phones? When you zoom in, the ad on the left also zooms in and covers the whole screen which effectively makes it impossible to zoom in. When you try to post, an ad covers the entire textbox so you can’t see what you’re typing. Sometimes, the site switches to a “mobile friendly” layout which isn’t all that good. The post numbers are gone (what I mean is, if someone says “RE: post #65” then you can’t tell which post is #65). It also scrolls slowly and feels sluggish. Avatar images are huge so take up a disproportionate part of the screen.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
where's the crash?
Guest
where's the crash?
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

i’d like to know?

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
Nostradamus called...
Guest
Nostradamus called...
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

he wants his inaccurate predictions back.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
VHB
Member
VHB
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Jun-2012
Total days 20
Days elapsed so far 1
Weekends / holidays 2
Days missing 0
Days remaining 19
7 Calendar Day Moving Average: Sales 153
7 Calendar Day Moving Average: Listings 241
SALES
Sales so far 180
Projection for rest of month (using 7day MA) 2911
Projected month end total 3091
NEW LISTINGS
Listings so far 335
Projection for rest of month (using 7day MA) 4579
Projected month end total 4914
Sell-list so far 53.7%
Projected month-end sell-list 62.9%
MONTHS OF INVENTORY
Inventory as of June 3, 2013 17944
Current MoI at this sales pace 5.81

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
VHB
Member
VHB
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

June
sell list sell/list
2002 2689 3850 69.8%
2003 3525 4301 82.0%
2004 3501 5594 62.6%
2005 4333 4742 91.4%
2006 3951 5460 72.4%
2007 4244 5533 76.7%
2008 2425 6546 37.0%
2009 4259 5372 79.3%
2010 2972 5544 53.6%
2011 3262 5793 56.3%
2012 2362 5617 42.1%
Mean 3411 5305 64.3%
median 3501 5533 72.4%

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
canadian
Guest
canadian
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Come on everybody lets blow this housing bubble bigger and bigger until people cant even afford to eat ,this is what Canada is about . YEAH !!!

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
@canadian
Guest
@canadian
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

i can afford to eat just fine. what’s the matter canadian, priced out forever?

well, we warned you this would happen.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
canadian
Guest
canadian
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

@Canadian You just proved whats wrong with this country are assholes like you who could care less about people .

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
Anonymous
Guest
Anonymous
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Recent real rate spike
Tightens secondary spreads
Repayment risk down

Thought of the day: what risk manager worth his salt would take a position in a rigged bloated mismanaged government stooge corporation? Seems like a bit of a “career risk”…

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
Anonymous
Guest
Anonymous
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Remember VCI residents, quantitative downvote easing on emotionally vitriolic comments. Run the trolls outta town as fast as your mouse can click. Do it not for me, do it for The Pope who poured his heart into this blog. Don’t let the trolls win.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
Anonymous
Guest
Anonymous
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

#6 I have the same problem on my iPhone. Rarely is the site in mobile friendly mode an the ad takes up three quarters of my screen. Does anybody else have this problem or thoughts on how to fix it?

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
Anonymous1
Guest
Anonymous1
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.
I know I’m going to get downvoted and accused of being a RE shill…but maybe some of my message will diffuse across to the bears. Seriously, the people here have no idea of the numbers of people coming into the country. In my circle of new South Asian friends, not one has come via the traditional immigrant stream. 1) Temporary Foreign Workers (who become permanent after 2 years working via the Canadian Experience Class Immigration Stream). 2) Foreign Students (who become permanent after a 2 year diploma + 1 year work experience). 3) Intra-Company Transfer employees (who become permanent after 2 years of skilled work experience in Canada). 4) The New European Union Work permit. (show up at the a airport in Canada and get a 2 year permit on the spot of you are a European Citizen) 5) Spouses… Read more »
You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
mac
Member
mac
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

There’s a link for a mobile version at the top of the blog. It’s a bit hidden. Just look for it at the top left.

But with the recent spate of comments over the past two days it might be better for the ads to cover them up. Bears and bulls will fight about anything as the market stagnates.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
canadian
Guest
canadian
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

So people are trolls because they voice an opinion on how shitty it is if your not rich enough to buy property in Vancouver. You’re just so smug in your life .You just proved my point once again.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
Anonymous
Guest
Anonymous
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Anon1 “People are not listing right now for a reason and some people are buying right now for a reason.”

Yes because they are stupid. People were buying real estate in the US in 2007 for a reason too.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
mac
Member
mac
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Top right. Not left.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
Vote Down The Facts
Guest
Vote Down The Facts
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

“4) The New European Union Work permit. (show up at the a airport in Canada and get a 2 year permit on the spot of you are a European Citizen)”

Do you have a link for that one please? I can’t find anything about it.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
asalvari1
Guest
asalvari1
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

crabman, the inventory graph, isnt off mark for one month? I suppose we would be at June X-axis mark now, but the graph presents the data at May x-axis mark.

according to the graph, and paulb data, we are way lower on the inventory compared to the last year.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
Anonymous
Guest
Anonymous
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Projected month-end sell-list 62.9%! That’ll be the highest since 2009. I guess the “crash” has been put on hold. Eh?

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago
Mr X
Guest
Mr X
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

“The penthouse at Vancouver’s Fairmont Pacific Rim has sold for $25 million, making it one of the most expensive condos ever sold in Canada, CBC News has learned….The listing agent, Malcolm Hasman, refused to say who the buyers are or to confirm the price. However, sources tell the CBC that members of a wealthy Middle Eastern family were in town last week to look at properties in Vancouver.”

http://www.cbc.ca/news/canada/british-columbia/story/2013/06/03/bc-vancouver-most-expensive-condo.html

You Must Be Logged In To Vote00You Must Be Logged In To Vote
6 years 1 month ago