00000nam 2200000za 4500 9.859352 CaOODSP 20250821075110 cr ||||||||||| 180719s2018 oncd ob f000 0 eng d CaOODSP eng eng fre n-cn--- FB3-7/2018-24E-PDF Mordel, Adi. The characteristics of uninsured mortgages and their securitization potential [electronic resource] / by Adi Mordel and Maria teNyenhuis. [Ottawa] : Bank of Canada, c2018. ii, 5 p. : col. charts. Staff analytical note = Note analytique du personnel, 2369-9639 ; 2018-24 Cover title. Includes bibliographical references. "Following changes to housing finance policies that target insured mortgages, uninsured mortgage credit has been growing. This robust growth creates a larger pool of mortgages that may be suitable for private-label residential mortgage-backed securities (RMBS). The development and viability of the Canadian private-label RMBS market would depend on the characteristics of the underlying collateral. We address this data gap by documenting the key features of uninsured mortgages originated since 2014, comparing them across two groups of federally regulated financial institutions, i.e., domestic systemically important banks (DSIBs) and non-DSIBs. We find that on average, non-DSIB mortgages exhibit riskier characteristics, including lower credit scores, and higher debt-service and loan-to-income ratios. When compared with the prime quality collateral backing domestically issued RMBS to date, we estimate that the non-DSIBs’ securitization potential since 2014 has been about $17 billion. Growing that issuance further would require approaches to broaden the pool of acceptable mortgages"--Abstract, p. ii. Includes abstract in French. Mortgage-backed securities teNyenhuis, Maria. Bank of Canada. Staff analytical note (Bank of Canada) 2369-9639 ; 2018-24. (CaOODSP)9.807323 PDF 440 KB https://publications.gc.ca/collections/collection_2018/banque-bank-canada/FB3-7-2018-24-eng.pdf