The Canadian Housing Finance System

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Building Societies Associat, 1979 - Housing - 47 pages

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Page 25 - While they are not primary lenders to savings and loan associations, the Federal National Mortgage Association, the Government National Mortgage Association and the Federal Home Loan Mortgage Corporation...
Page 26 - Trust and mortgage companies were established and grew rapidly under provincial legislation in the late 19th and early 20th centuries.
Page 8 - Government taking the portion of the loan in excess of 40 per cent. The 1944 National Housing Act established the Central Mortgage and Housing Corporation (CMHC), now Canada Mortgage and Housing Corporation, but it was the 1954 National Housing Act that was the beginning of the modern era of housing finance.
Page 41 - The yearly contributions are tax deductable, and income on the investment is not taxed while it is retained in the plan. Both income and capital are not taxed if the capital is used for the purchase of an owner-occupied home.
Page 5 - ... these banks operated 7,324 banking offices in Canada and 280 abroad. Canadian chartered banks accept various types of deposit from the public including accounts payable on demand, both chequing and non-chequing, notice deposits and fixed-term deposits. In addition to holding a portfolio of securities, they make loans under a wide variety of conditions for commercial, industrial, agricultural and consumer purposes. They also deal in foreign exchange, receive and pay out bank notes, provide safekeeping...
Page 1 - The .basic picture that emerges is that by almost any measure Canadians in the urban part of the Country are well housed. The majority of the stock is less than 25 years old, is...
Page 1 - The majority of the stock is less than 25 years old, is in good quality, has most of the facilities generally considered necessary, and provides a relatively high average amount of space per person. Some problems of distribution are apparent in specfic cities, however, and gaining access to adequate housing apparently imposes a high financial burden on special groups.
Page 31 - The five largest banks (Canadian Imperial Bank of Commerce, Royal Bank of Canada, Bank of Montreal...
Page 11 - Other" includes Quebec Savings Banks, mutual benefit and fraternal societies, pension funds and mortgage investment brokers. It will be seen that the share of approvals taken by the major...
Page 3 - USA, take the form of semi-detached houses - one of which is occupied by the owner and the other is rented from him.

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