Part 6 – Division 24
Overview: Securitization of Insured Mortgage or Hypothecary Loans
The amendments will clarify the regulatory authorities in the Protection of Residential Mortgages or Hypothecary Insurance Act and the National Housing Act. In particular, the amendments would allow regulations to be made under each of these Acts in respect of a guarantee of payment under the National Housing Act that would apply to all insured loans under each Act, regardless of when the loan was insured.
These amendments will allow for regulations to be made that would prohibit the use of insured mortgages outside of securitizations sponsored by the Canada Mortgage and Housing Corporation.