Canada Mortgage and Housing Corporation

What Canada Mortgage and Housing Corporation does

Canada Mortgage and Housing Corporation (CMHC) is Canada's national housing agency and a Crown corporation wholly owned by the Government of Canada, founded in 1946 and headquartered in Ottawa with regional offices across Vancouver, Toronto, Calgary, Montreal, and Halifax. CMHC operates across three integrated lines of business: mortgage loan insurance (insuring lender mortgages against default for home purchases, refinances, improvements, second homes, newcomers, self-employed borrowers, income properties, and prefabricated/modular construction under the Prefab Plus product), securitization (administering NHA Mortgage Backed Securities, Canada Mortgage Bonds, and Canadian registered covered bonds), and federal housing program administration under the National Housing Strategy (including the $14.44 billion Affordable Housing Fund, the Apartment Construction Loan Program targeting 131,000 rental homes by 2031-2032, the Rapid Housing Initiative, and the Housing Accelerator Fund). The corporation also operates an "AI-powered" underwriting platform called emili, a Housing Design Catalogue of 50 pre-approved home designs, and an extensive Housing Market Information Portal publishing the Housing Affordability Composite Index, rental market reports, and mortgage consumer surveys.

CMHC is funded through a hybrid model combining self-sustaining mortgage insurance premiums (typically 0.6%-4.0% of mortgage amount based on loan-to-value), securitization transaction fees, and parliamentary appropriations for federal housing program administration. It serves four primary customer segments: individual homebuyers (including first-time buyers via products like the First-Time Home Buyer Incentive and First Home Savings Account), lenders and mortgage professionals (via NHA-approved lender agreements), developers and housing providers (private developers, non-profits, co-operatives building rental and ownership housing), and government partners at federal, provincial, territorial, and municipal levels (delivering programs under bilateral NHS agreements and the Federal, Provincial and Territorial Forum on Housing). In September 2025 the federal government launched the complementary Build Canada Homes agency with $13 billion in initial investment, positioning CMHC within an expanded federal housing ecosystem targeting a near-doubling of construction pace to 500,000 homes annually.

Name

Canada Mortgage and Housing Corporation

Legal name

Canada Mortgage and Housing Corporation

Website

https://cmhc.ca

Company type

Private

Founded year

1946

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Canada Mortgage and Housing Corporation (CMHC) is Canada's federal Crown corporation providing mortgage loan insurance, securitization programs, and National Housing Strategy funding to homebuyers, lenders, developers, and all levels of government.

Ownership category

akta.pro rank

Product category

Mortgage Insurance & Housing Finance

NAICS

Mortgage and Nonmortgage Loan Brokers (522310)

SIC

Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

Government-Sponsored Enterprises (GSEs) & Government Mortgage Liquidity Providers (FSALAKAC)

akta.pro secondary industry

Agency MBS Securitization & Issuance (GSE/Ginnie) (FSALAFAA)

Keywords

• Mortgage loan insurance
• Affordable housing funding
• Mortgage backed securities
• Government housing programs
• Housing market research

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Mortgage Loan Insurance: CMHC provides mortgage loan insurance to lenders protecting against default, charging premiums typically ranging from 0.6% to 4% of the mortgage amount. This includes homeowner mortgage insurance (for purchases, refinances, improvements) and multi-unit insurance for rental housing.
2. Securitization Programs: CMHC administers NHA Mortgage Backed Securities and Canada Mortgage Bonds, facilitating liquidity in the mortgage market. These programs enable lenders to fund mortgage lending through capital markets.
3. Government Appropriations: CMHC receives parliamentary appropriations to deliver housing programs under the National Housing Strategy, including funding for affordable housing, Indigenous housing, and housing research.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

CMHC provides government-backed mortgage loan insurance to Canadian lenders for homeowner and multi-unit rental properties, administers federal affordable housing funding programs (Affordable Housing Fund, Apartment Construction Loan Program, Rapid Housing Initiative, Housing Accelerator Fund) under the National Housing Strategy, and operates mortgage securitization infrastructure (NHA MBS, Canada Mortgage Bonds). It also produces housing market data, rental market reports, and mortgage consumer surveys, and supports all levels of government in addressing housing affordability.

Product overview

Canada Mortgage and Housing Corporation (CMHC) operates as a comprehensive platform of housing finance and data solutions. The core offering centers on mortgage loan insurance products (including CMHC Purchase, Improvement, Refinance, Second Home, Newcomers, Self-Employed, Prefab Plus, and Income Property), complemented by multi-unit insurance programs (MLI Select and CMHC Modular Rental Housing Insurance). Funding programs including the Affordable Housing Fund, Apartment Construction Loan Program, Rapid Housing Initiative, and Housing Supply Challenge support housing development. Securitization products (NHA Mortgage Backed Securities and Canada Mortgage Bonds) facilitate mortgage funding flows. Supporting tools include emili (AI-powered underwriting), the Housing Design Catalogue (standardized designs), and mortgage calculators. Research products provide housing market reports, rental market reports, and mortgage consumer surveys.

Differentiator

Problem solved

Functional benefit

Brands

• Build Canada Homes: A new federal housing agency launched to help accelerate home construction in Canada.
• Prefab Plus
• MLI Select
• emili

Products and services

• Mortgage Loan Insurance Government-backed mortgage loan insurance protecting lenders against borrower default, allowing Canadian lenders to provide low-down-payment mortgages. Available for purchases, refinances, home improvements, second homes, newcomers, self-employed borrowers, income properties, and prefabricated/modular homes (Prefab Plus).
• MLI Select Multi-unit insurance program for apartment construction and rental housing, providing mortgage insurance to support the construction and financing of purpose-built rental apartment projects.
• Prefab Plus Mortgage loan insurance product for prefabricated and modular homes, providing insured mortgages with a minimum 5% down payment and funds advanced in up to four stages tied to construction milestones.
• Affordable Housing Fund Federal funding program under the National Housing Strategy that supports the construction and renovation of affordable housing across Canada, delivered through bilateral agreements with provinces and territories.
• Apartment Construction Loan Program Federal loan program supporting the construction of purpose-built rental apartments across Canada, providing below-market construction financing to developers and housing providers.
• Rapid Housing Initiative Federal funding program for the rapid construction of affordable housing, including modular and prefabricated options, to address urgent housing needs for vulnerable populations.
• Housing Supply Challenge Innovation challenge program under the National Housing Strategy that seeks and funds innovative solutions to increase housing supply across Canada.
• Canada Greener Affordable Housing Federal program supporting energy efficiency improvements and green retrofits in affordable housing, including retrofits for multi-unit buildings owned by non-profits, co-ops, and public housing providers.
• NHA Mortgage Backed Securities Securitization product allowing approved lenders to pool government-backed insured mortgages and issue National Housing Act Mortgage Backed Securities to investors, providing capital markets liquidity for residential mortgage lending.
• Canada Mortgage Bonds Government of Canada bonds backed by pools of NHA Mortgage Backed Securities, issued to provide low-cost, long-term funding for residential mortgage lending across Canada.
• emili AI-powered underwriting platform used by NHA-approved lenders to submit and process mortgage loan insurance applications, providing automated risk assessment and decisioning for CMHC.
• Housing Design Catalogue Online catalogue of standardized, pre-approved home designs intended to reduce planning approval timelines and construction costs for housing developers and builders across Canada.
• Housing Market Reports Comprehensive housing market reports providing data and analysis on housing markets across Canada, including the Housing Affordability Composite Index and housing supply reports.

Quantifiable outcome

• CMHC estimates 4.8 million new homes must be built over the next decade to restore 2019 affordability levels
• +4 more outcomes

Named customers10 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Nine partnerships are on record, tiered supporting, core and major.

• CABN Co. LtdsupportingStrategic or Co-development Partner · 3 March 2026CABN, a Brockville-based prefab housing manufacturer, has been approached by CMHC and Build Canada Homes to deliver pre-approved affordable housing designs targeting $250 per square foot price point.
• Federal, Provincial and Territorial Forum on HousingcoreStrategic or Co-development PartnerCMHC coordinates with all provincial and territorial governments through the Federal, Provincial and Territorial Forum on Housing to deliver the National Housing Strategy and address housing affordability across Canada.
• Expert Community on Housing (ECoH)coreStrategic or Co-development PartnerCMHC leads the Expert Community on Housing, bringing together industry leaders and researchers to address Canadian housing challenges through collaborative problem-solving.
• Build Canada HomescoreStrategic or Co-development PartnerBuild Canada Homes is a new federal housing agency launched September 2025 with $13 billion initial investment, working alongside CMHC to nearly double Canada's housing construction pace to 500,000 new homes per year.
• BC HousingmajorStrategic or Co-development PartnerBC Housing collaborates with CMHC on bilateral housing agreements, Indigenous housing programs, and affordable housing funding under the National Housing Strategy.
• A Women's Work (AWW Org)supportingStrategic or Co-development PartnerCMHC partnered with AWW Org to launch the MODWORKS Program: 2026 Training Module, a modular construction training program for construction professionals powered by CMHC.
• Horizon LegacysupportingStrategic or Co-development PartnerCMHC provided a $2.7 million grant to Horizon Legacy for Canada's largest 3D printed housing development in Gananoque, Ontario - a 26-unit townhome complex.
• Logir OutaouaismajorImplementation/ SI/ Consulting PartnerLogir Outaouais is the developer and operator of Le Champlain, a 199-unit social and affordable housing building in Gatineau, Quebec, funded through Affordable Housing Fund.
• UpBuilding! Non-Profit HomessupportingImplementation/ SI/ Consulting PartnerUpBuilding! Non-Profit Homes is developing 18 new affordable housing units in Guelph, Ontario, replacing an aging four-unit building with two three-storey stacked townhouses.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Fannie Mae: US government-sponsored enterprise that purchases and securitizes residential mortgages, operates secondary mortgage market functions analogous to CMHC's NHA MBS and Canada Mortgage Bonds programs.
• Freddie Mac: US GSE providing mortgage liquidity, securitization, and housing finance infrastructure, closely paralleling CMHC's role as Canada's federal mortgage liquidity provider.

Direct peers

• Ginnie Mae: US government agency guaranteeing mortgage-backed securities backed by government-insured loans, the closest international analog to CMHC's securitization and mortgage insurance functions.
• Federal Housing Administration (HUD/FHA): US federal agency providing government-backed mortgage insurance for low-down-payment and affordable housing, directly comparable to CMHC's mortgage loan insurance mandate.
• Canada Guaranty Mortgage Insurance: Canadian private mortgage default insurer offering competing homeowner and multi-unit mortgage insurance products to CMHC.
• Genworth Canada (Sagen MI Canada): Canada's largest private mortgage insurer competing with CMHC in homeowner mortgage insurance and multi-unit insurance products.
• Suncorp / Canada Life Mortgage Insurance: Canadian private mortgage default insurer competing directly with CMHC in homeowner mortgage insurance for high-ratio mortgages.

Regional players

• National Housing Finance and Investment Corporation (Australia): Australian government housing finance entity providing affordable housing finance and aggregating data, comparable as a national government housing finance vehicle but operating in a different geography.
• UK Mortgage Guarantee Scheme (HM Treasury): UK government program guaranteeing high loan-to-value mortgages, analogous to CMHC's mortgage insurance role but administered by a finance ministry rather than a dedicated housing agency.

Emerging players

• Build Canada Homes: New federal housing agency launched September 2025 with $13B to accelerate home construction, partnered with CMHC but overlapping in affordable housing program delivery.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key highlights7 records

Customer concentration

• Xx.com/CMHC_ca
• YouTubeyoutube.com/user/CMHCca
• Facebookfacebook.com/cmhc.schl
• LinkedInlinkedin.com/company/canada-mortgage-and-housing-corporation
• Instagraminstagram.com/cmhc_schl

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments26 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Canada Mortgage and Housing Corporation