Which mortgage default insurer in Canada is owned by the federal government?
Correct Answer
B) CMHC
CMHC is owned by the federal government: it is a Crown corporation and, under section 5 of the CMHC Act, an agent of the Crown. Sagen MI Canada (formerly Genworth's Canadian business) and Canada Guaranty are private insurers whose policies carry a partial federal guarantee, but they are not government-owned.
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