CMHC
CMHC is a Canadian federal Crown corporation delivering mortgage loan insurance, securitization, National Housing Strategy funding programs, and housing research and data to homebuyers, lenders, developers, non-profits, Indigenous organizations, and all levels of government across Canada.
- Company typePublic
- Founded1946
- HeadquartersOttawa, Canada
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What CMHC does
CMHC (Canada Mortgage and Housing Corporation) is a federal Crown corporation established in 1946 and wholly owned by the Government of Canada, operating under the Canada Mortgage and Housing Corporation Act as the country's national housing agency. The organization delivers three integrated business lines: mortgage loan insurance for homeowner (1-4 unit) and multi-unit (5+ unit) properties, securitization through NHA Mortgage Backed Securities and Canada Mortgage Bonds to channel capital markets funding back to Canadian residential lenders, and administration of the Government of Canada's National Housing Strategy funding programs.
Its product portfolio includes homeowner mortgage insurance products (CMHC Purchase, Improvement, Second Home, Prefab Plus, Newcomers, Self-Employed, Portability, Income Property, Eco Products), multi-unit mortgage insurance (MLI Select, Modular Rental Housing Insurance), and a suite of National Housing Strategy funding vehicles — the Affordable Housing Fund, Affordable Housing Innovation Fund, Apartment Construction Loan Program, Canada Greener Affordable Housing, Federal Lands Initiative, Rapid Housing Initiative, Indigenous Housing Funding, Housing Supply Challenge, and Community (Social) Housing. Underwriting is delivered through the emili online application system, which processes applications in seconds against a database of more than 11 million Canadian properties, supplemented by blockchain-based settlement infrastructure for NHA MBS transactions and public research platforms (Housing Market Information Portal, Residential Mortgage Industry Data Dashboard, Housing Knowledge Centre).
CMHC's revenue comes from one-time mortgage insurance premiums (0.60%-4.50% of insured loan amount depending on LTV bucket), program administration and appropriations from the Government of Canada for National Housing Strategy delivery, securitization-related fees, and housing research and data services. As a Crown corporation, CMHC does not operate for profit and returns net revenue to the Government of Canada as dividends. Distribution is executed through the NHA Approved Lenders network (banks, credit unions, trust companies), regional CMHC specialists, and self-serve digital portals serving developers, non-profits, Indigenous organizations, and all levels of government across Canada.
CMHC firmographics
Firmographics- Name
- CMHC
- Legal name
- Canada Mortgage and Housing Corporation
- Website
- https://cmhc-schl.gc.ca
- Company type
- Public
- Founded year
- 1946
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- CMHC is a Canadian federal Crown corporation delivering mortgage loan insurance, securitization, National Housing Strategy funding programs, and housing research and data to homebuyers, lenders, developers, non-profits, Indigenous organizations, and all levels of government across Canada.
- Ownership category
- akta.pro rank
CMHC industry classification
Industry- Product category
- Mortgage Loan Insurance and Housing Finance
- NAICS
- Real Estate Credit (522292), Nondepository Credit Intermediation (5222)
- SIC
- Federal & Federally-Sponsored Credit Agencies (6111), Mortgage Bankers & Loan Correspondents (6162), Asset-Backed Securities (6189)
- akta.pro primary industry
- Agency MBS Securitization & Issuance (GSE/Ginnie) (FSALAFAA)
- akta.pro secondary industries
- Mortgage-Backed Securities (RMBS/CMBS) (FSACACAB), Mortgage-Backed Securities (MBS) Trading, Market Making & Liquidity Provision (FSALAFAF)
Keywords
Where CMHC is headquartered
LocationHeadquarters
- HQ city
- Ottawa
- HQ country
- Canada
- HQ region
- North America
Offices8 records
Markets served
CMHC business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Mortgage Loan Insurance Premiums: One-time premiums charged to lenders for mortgage loan insurance on homeowner (1-4 unit) and multi-unit (5+ unit) properties. Premium rates vary by loan-to-value ratio from 0.60% to 4.50% for homeowner loans. Premiums can be added to the insured loan amount.
- National Housing Strategy Funding Programs: CMHC delivers funding programs on behalf of the Government of Canada including the Affordable Housing Fund, Rapid Housing Initiative, and other housing programs. Revenue comes from government appropriations and program administration.
- Securitization Services: CMHC provides NHA Mortgage Backed Securities and Canada Mortgage Bonds programs that facilitate funding flow to residential mortgage lenders.
- Housing Research and Data Services: CMHC provides housing market reports, research publications, and data services to support the housing industry and informed decision-making.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | One-time | Premium rates for homeowner loans (1-4 units) based on LTV ratio |
| Transaction based/ take rate | One-time | Premium rates for small rental loans (2-4 units, non-owner-occupied) based on LTV ratio |
| Outcome Based/ Performance | Multi-year contract | Canada Greener Affordable Housing - up to $170,000 per unit for deep energy retrofits |
| Unit Pricing | Multi-year contract | Federal Lands Initiative - $318.9 million fund for surplus federal properties |
| Subscription | Annual | Housing Research Scholarship Program - $45,000 per year for up to 2 years |
| Outcome Based/ Performance | Multi-year contract | Housing Supply Challenge - $300 million over 5 years in funding |
Go-to-market motion4 records
Distribution channels6 records
Marketing channels11 records
CMHC product offering
Product offeringCore offering
CMHC provides mortgage loan insurance to lenders for homeowner (1-4 unit) and multi-unit (5+ unit) residential properties, with premiums structured by loan-to-value ratio. It administers National Housing Strategy funding programs on behalf of the Government of Canada, delivering low-interest loans, forgivable contributions, and capital funding to affordable housing providers, developers, Indigenous communities, and government entities. CMHC also offers securitization products (NHA Mortgage Backed Securities and Canada Mortgage Bonds), housing market research, and consumer guidance resources.
Product overview
CMHC (Canada Mortgage and Housing Corporation) operates as Canada's national housing authority, offering a comprehensive portfolio of housing finance solutions and mortgage loan insurance products. The company provides funding programs through the National Housing Strategy including the Affordable Housing Fund, Affordable Housing Innovation Fund, Apartment Construction Loan Program, Canada Greener Affordable Housing, Federal Lands Initiative, Rapid Housing Initiative, and Housing Supply Challenge. For mortgage lending, CMHC offers homeowner mortgage loan insurance products (CMHC Purchase, Improvement, Second Home, Prefab Plus, Newcomers, Self-Employed, Portability, Income Property, Refinance, Home Start, and Eco Products) and multi-unit insurance products (MLI Select, Modular Rental Housing Insurance). The company also provides securitization products including NHA Mortgage Backed Securities and Canada Mortgage Bonds. Additionally, CMHC offers research and data platforms including the Housing Knowledge Centre, Housing Market Information Portal, and Residential Mortgage Industry Data Dashboard. The portfolio is delivered through digital platforms including emili for online mortgage applications.
Differentiator
Problem solved
Functional benefit
Products and services
- Affordable Housing Fund Capital funding program providing low-interest and forgivable loans and contributions for the construction of new affordable housing and the repair and renewal of existing community housing, available to partnered affordable housing providers across Canada.
- Affordable Housing Innovation Fund Funding program that supports innovative affordable housing providers through loans, forgivable loans, contributions, and financing options for transformational, breakthrough, and incremental innovation across the housing continuum.
- Apartment Construction Loan Program Low-cost loan program providing funding from $1,000,000 up to 100% of residential project costs for rental apartment construction across Canada, covering standard rental, seniors housing, and student housing development.
- Canada Greener Affordable Housing Financing program that helps affordable housing providers complete deep energy retrofits on existing multi-unit residential buildings by offering combined forgivable and low-interest loans up to $170,000 per unit.
- Community (Social) Housing Funding Funding and assistance for federally administered community housing providers, including capacity building, tenant financial literacy enhancement, rental assistance, transition support, and preservation funding.
- Federal Lands Initiative $318.9-million fund supporting the transfer or leasing of surplus federal lands and buildings to eligible applicants for development into affordable, sustainable, and accessible housing, with discount tied to social outcomes achieved.
- Indigenous Housing Funding Range of low-cost repayable and non-repayable loans and contributions for Indigenous housing construction and renovation in Canada, covering on-reserve, off-reserve, urban, and northern Indigenous housing projects.
- Housing Supply Challenge $300 million over 5 years challenge program funding housing experts and professionals to remove or reduce barriers that hinder housing supply, including construction timelines, productivity, and land data, delivered through multiple rounds.
- Rapid Housing Initiative Capital contributions for the rapid construction of new housing and/or acquisition of existing buildings for rehabilitation or conversion into permanent affordable housing for vulnerable populations across Canada.
- CMHC Second Home (Mortgage Loan Insurance) Mortgage loan insurance product providing flexible financing options for borrowers purchasing a second home, with LTV ratios up to 95% for 1-unit properties and maximum purchase price below $1,500,000.
- CMHC Prefab Plus (Mortgage Loan Insurance) Mortgage loan insurance product supporting financing for prefabricated, modular, and manufactured homes, enabling buyers to purchase prefabricated housing with up to 95% LTV for 1-2 unit properties.
- CMHC Purchase (Mortgage Loan Insurance) Core mortgage loan insurance product that enables homebuyers to purchase a home with a minimum down payment of 5%, supporting owner-occupied properties for Canadian citizens, permanent residents, and eligible non-permanent residents.
- CMHC Improvement (Mortgage Loan Insurance) Mortgage loan insurance product supporting new construction and home improvements, offering insured financing up to 95% of as-improved value for 1-2 unit owner-occupied properties.
- MLI Select (Multi-Unit Mortgage Loan Insurance) Multi-unit mortgage insurance product supporting the construction, purchase, and refinancing of multi-unit rental properties (5+ units) in Canada.
- CMHC Modular Rental Housing Insurance Multi-unit mortgage loan insurance product for modular rental housing construction, supporting the development of purpose-built rental apartments in Canada.
- emili (Online Mortgage Insurance Application System) Online mortgage insurance application system used by NHA Approved Lenders to process mortgage insurance applications in real-time, leveraging CMHC's database of over 11 million Canadian properties for underwriting.
- NHA Mortgage Backed Securities Securitization product allowing lenders to convert residential mortgages into securities backed by CMHC mortgage insurance, facilitating access to capital markets for mortgage funding.
- Canada Mortgage Bonds Government-backed mortgage bonds program that enables lenders to access funding through capital markets for residential mortgage lending in Canada.
- CMHC Eco Products (Eco Plus and Eco Improvement) Eco Plus and Eco Improvement products offering 25% partial premium refund for climate-friendly housing, including energy-efficient upgrades for existing homes and newly built climate-friendly housing.
- Innovation and Research Funding National Housing Strategy funding portfolio including NHS Solutions Labs, NHS Demonstrations Initiative, Research and Planning Fund, Housing Research Scholarship Program, and Housing Research Awards for housing research and innovation.
- Housing Knowledge Centre Online library specializing in housing literature, publications, statistics, and research to support housing professionals' research needs.
- Housing Market Information Portal Free digital portal providing easy access to the latest housing market data for Canadian markets, covering rental, housing market, household characteristics, and mortgage data for industry professionals.
- Residential Mortgage Industry Data Dashboard Interactive dashboard providing residential mortgage industry data and analysis in Canada, including lender types, insurance, interest rates, arrears, and funding flows.
Quantifiable outcome
- 4,500 new affordable units created through Rapid Housing Initiative
- +4 more outcomes
Companies that use CMHC
Customer profileNamed customers9 records
Segments7 records
Ideal customer profiles4 records
CMHC technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
CMHC partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and minor.
- BC Builds (Province of British Columbia)coreBC and CMHC signed the ACLP-BC Builds Collaboration Agreement on January 23, 2025, for the Apartment Construction Loan Program to accelerate rental housing development in British Columbia.
- Public Service and Procurement Canada (PSPC)corePSPC supports the Federal Lands Initiative by providing surplus federal lands and buildings for affordable housing development, handling property identification and due diligence processes.
- Housing, Infrastructure and Communities Canada (HICC)coreHICC collaborates with CMHC on the Federal Lands Initiative, supporting the transfer of surplus federal property for affordable housing purposes.
- Canada Lands Company (CLC)coreCLC enables new housing development on surplus federal lands through the Federal Lands Initiative, supporting the conversion of public property to affordable housing.
- Impact Canada / Impact and Innovation Unit (Privy Council Office)coreImpact Canada collaborates with CMHC on the Housing Supply Challenge, bringing outcome-based funding approaches to address barriers to housing supply across Canada.
- Infrastructure CanadacoreInfrastructure Canada partners with CMHC on the Housing Supply Challenge as part of collaborative efforts to improve housing supply and affordability in Canada.
- Build Canada HomescoreBuild Canada Homes is working closely with CMHC to ensure no submission is overlooked from the Affordable Housing Fund portal closure, committed to helping viable projects find suitable funding paths.
- Federal, Provincial and Territorial GovernmentscoreCMHC participates in the Federal/Provincial/Territorial Forum on Housing and manages bilateral housing agreements as part of the National Housing Strategy delivery.
- Housing Accelerator Fund Recipients (Municipal Governments)minorLocal governments receiving Housing Accelerator Fund incentive funding to boost housing supply through approval process improvements and zoning changes.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
CMHC competitors and assessment
Company assessmentDirect peers
- Fannie Mae: US government-sponsored enterprise providing mortgage loan insurance, securitization through MBS, and housing finance programs. Closest international analogue to CMHC's combined insurance, securitization, and affordable housing mandate.
- Freddie Mac: US GSE that purchases, securitizes, and guarantees residential mortgages, with multifamily and affordable housing programs paralleling CMHC's MLI Select and Affordable Housing Fund offerings.
- Sagen MI Canada: Canada's largest private mortgage default insurer competing directly with CMHC in high-ratio mortgage insurance, with similar underwriting and securitization-adjacent activities.
- Federal Housing Administration (FHA): US federal agency providing government-backed mortgage insurance on high-LTV loans, the most direct functional peer to CMHC's mortgage loan insurance product line.
- Canada Guaranty: Canadian private mortgage insurer providing mortgage default insurance on residential and multi-unit properties, a direct competitor to CMHC's homeowner and MLI Select products.
- Ginnie Mae: US government entity guaranteeing MBS backed by government-insured (FHA/VA) mortgages — directly comparable to CMHC's role in issuing NHA Mortgage Backed Securities backed by its own insurance.
Others
- KfW Bankengruppe: German state-owned development bank that funds social housing, energy-efficient retrofit, and municipal infrastructure — comparable in its concessional, government-backed lending programs and MBS issuance activities.
- Build Canada Homes: New federal Canadian entity partnering with CMHC on affordable housing delivery. Ecosystem participant rather than direct competitor, but its scale could shift the balance of federal housing finance away from CMHC's platform.
Broad incumbents
- Homes England: UK government's housing and regeneration agency funding affordable housing supply, with a mandate and toolkit that overlaps CMHC's funding program and affordable housing delivery role, though without a primary insurance/securitization franchise.
- Housing Australia: Australian federal housing agency administering affordable housing finance programs and the Affordable Housing Bond Aggregator — a comparable sovereign-backed housing finance and securitization platform.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
CMHC social profiles
Digital presenceCMHC financial estimates
Financial estimateRevenue estimate
Valuation estimate
CMHC leadership team
Management profileNumber of profiles
CMHC funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CMHC M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CMHC
What does CMHC do?
CMHC provides mortgage loan insurance to lenders for homeowner (1-4 unit) and multi-unit (5+ unit) residential properties, with premiums structured by loan-to-value ratio. It administers National Housing Strategy funding programs on behalf of the Government of Canada, delivering low-interest loans, forgivable contributions, and capital funding to affordable housing providers, developers, Indigenous communities, and government entities. CMHC also offers securitization products (NHA Mortgage Backed Securities and Canada Mortgage Bonds), housing market research, and consumer guidance resources.
Is CMHC a public or private company?
CMHC is a public company. It is classified as state government owned and is currently operating.
When was CMHC founded?
CMHC was founded in 1946. It employs 1,001 to 5,000 people.
Where is CMHC based?
CMHC is headquartered in Ottawa, Canada, in the North America region.
How does CMHC make money?
Four revenue lines are on record. Mortgage Loan Insurance Premiums are the primary driver. The others are national Housing Strategy Funding Programs, securitization Services and housing Research and Data Services.
Who are CMHC's main competitors?
Direct peers on record are Fannie Mae, Freddie Mac, Sagen MI Canada, Federal Housing Administration (FHA), Canada Guaranty and Ginnie Mae. Others are KfW Bankengruppe and Build Canada Homes. Broad incumbents are Homes England and Housing Australia.
Does CMHC have an API?
No public API is recorded for CMHC.
What industry is CMHC in?
CMHC's product category is Mortgage Loan Insurance and Housing Finance. Its primary akta.pro industry code is FSALAFAA, Agency MBS Securitization & Issuance (GSE/Ginnie), with a secondary code of FSACACAB, Mortgage-Backed Securities (RMBS/CMBS). Its NAICS code is 522292 and its SIC code is 6111.