Nigel Stephens

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Nigel Stephens

Bank of Canada
234 Wellington Street
Ottawa, ON, K1A 0G9

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December 15, 2015

Residential Mortgage Securitization in Canada: A Review

Residential mortgage securitization plays an important role in the Canadian system of housing finance, especially given the rising share of government-supported (i.e., public) securitization over the past 15 years. Mordel and Stephens analyze the evolution of two types of mortgage securitization in Canada— private and public — focusing in particular on the underlying public policy and economic benefits of the latter. They review the potential implications of the extent of public securitization and conclude with a discussion of policies that could be considered to reinvigorate private securitization in Canada.

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