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The most typical home loan in Canada is the five-year fixed-rate closed home mortgage, as opposed to the U.S. where the most typical type is the 30-year fixed-rate open home loan. Throughout the financial crisis and the taking place recession, Canada's home loan market continued to function well, partly due to the domestic home mortgage market's policy framework, that includes a reliable regulatory and supervisory program that uses to a lot of lenders.In April 2014, the Workplace of the Superintendent of Financial Institutions (OSFI) launched standards for home mortgage insurance service providers intended at tightening up standards around underwriting and risk management. In a statement, the OSFI has actually specified that the standard will "supply clearness about finest practices in respect of domestic mortgage insurance coverage underwriting, which add to a stable financial system." This comes after a number of years of federal government examination over the CMHC, with former Financing Minister Jim Flaherty musing publicly as far back as 2012 about privatizing the Crown corporation.

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