Risk Management Experience? The CMHC needs your help.

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.

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paulb
Member

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

http://www.paulboenisch.com

Anonymous
Guest
Anonymous

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

Makaya
Member
Makaya

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

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

crabman
Guest

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

Skook
Member
Skook

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.

minotaur3
Member

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.

where's the crash?
Guest
where's the crash?

i’d like to know?

Nostradamus called...
Guest
Nostradamus called...

he wants his inaccurate predictions back.

VHB
Member
VHB

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

VHB
Member
VHB

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%

canadian
Guest
canadian

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 !!!

@canadian
Guest
@canadian

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

well, we warned you this would happen.

canadian
Guest
canadian

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

Anonymous
Guest
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”…

Anonymous
Guest
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.

Anonymous
Guest
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?

Anonymous1
Guest
Anonymous1
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 »
mac
Member
mac

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.

canadian
Guest
canadian

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.

Anonymous
Guest
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.

mac
Member
mac

Top right. Not left.

Vote Down The Facts
Guest
Vote Down The Facts

“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.

asalvari1
Guest
asalvari1

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.

Anonymous
Guest
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?

Mr X
Guest
Mr X

“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

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