CMHC: Employment Insurance Reforms

Canada Mortgage And Housing Corp. Dept: The bill introduced in Parliament Thursday also includes a crackdown on politically-active charities, changes to the Old Age Security program, Employment Insurance reforms and the Conservatives plan to eliminate the penny, according to The Star. The aim is ensure that CMHC s commercial activities are managed in a manner that promotes the stability of the financial system and contributes to the stability of the housing market. OTTAWA The federal government moved to extend its oversight of the red-hot housing market as part of wide-ranging legislation to implement the March 29 federal budget . Concerned that lending practices are encouraging too many Canadian homebuyers to take on risky mortgages, Finance Minister Jim Flaherty wants to enhance scrutiny of the Canada Mortgage and Housing Corp., the government agency that insures the vast majority of home loans. (www.immigrantscanada.com). As reported in the news.