부산대학교 도서관

* Residential mortgage securitization (together with mortgage insurance) 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. * The main social benefit for Canadians of public securitization is the support it provides for both diversity of choice and access to mortgage financing through a stable, cost-effective supply of funding to mortgage lenders. Public securitization also supports competition in the mortgage market by providing funding to small lenders, which have fewer alternative funding sources. Financial institutions also benefit from public securitization by using these highly rated assets to meet regulatory requirements. * The recent increase in public securitization has also led to public discussions about the government's exposure to the housing market, the balance between investment in residential real estate and other forms of investment, and the potential effects on household borrowing and the housing market. One approach to reducing the government's involvement in the housing market would be to consider adopting measures to reinvigorate private mortgage securitization in Canada. [ABSTRACT FROM AUTHOR]