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CMHC Canada Mortgage and Housing Corporation

GENWORTH FINANCIAL

Mortgage Insurance is insurance that covers your lender’s risks associated with financial loss that can occur when a homeowner defaults on their mortgage loan. Mortgage Insurance increases access to mortgage financing.

The premium for this insurance can range from 0.65% to 2.75% depending upon how much of the purchase price/home value is financed with a mortgage loan.

About CMHC

Canada Mortgage and Housing Corporation (CMHC) is Canada's national housing insurance agency. Established by the government in 1946 CMHC was created to help with housing scarcity after the war. CMHC currently offers more mortgage loan insurance than any other insurance provider in Canada. In addition, CMHC provides mortgage-backed securities, housing programs and real estate research and trend reports. CMHC's mandate is to help Canadians who otherwise could not afford homes achieve ownership, improve building and construction codes, housing construction, and provide regulators with the information and needed to maintain a robust housing economy in Canada.

About Genworth

Genworth Financial is part of the GE family of companies and is one of the world's largest insurance corporations. As an international premier insurance provider, Genworth makes it possible for consumers all around the world to buy homes with less money down. Genworth has a long tradition of sustainability, strength, integrity and operational excellence with more than $104 billion in US dollar assets. Allowing homeowners to achieve homeownership with less, Genworth has had a healthy impact on the growth of the housing market worldwide.