May 23, 1961 (24th Parliament, 4th Session)

CCF

Mr. Regier

Co-operative Commonwealth Federation (C.C.F.)

1. What are the arrangements that have been arrived at between the Department of Finance and Central Mortgage and Housing Corporation as to the disposal of the potential proceeds of the proposed sale of mortgages now held by the C.M.H.C.?
2. What have been the total amounts of repayment on principal collected by C.M.H.C. for each of the past five years on moneys that it has advanced for home construction?
Answer by: Hon. D. J. Walker (Minister of Public Works):
Question
1. When the corporation has effected the sale of a group of mortgages it will determine with the Department of Finance whether to use the proceeds of sale for the making of new direct loans or whether to make prepayments upon its debenture indebtedness to the treasury. The decision will depend largely upon the then current money market and the demands upon the corporation for direct loans at that time.
2. Principal Collections on N.H.A. Loans
1956 $ 24,786,802
1957 22,642,635
1958 28,526,518
1959 30,592,793
1960 36,487,987

Topic:   C.M.H.C.-PROCEEDS FROM SALE OF MORTGAGES
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