NHB enters into pact with Canadian company
New Delhi: The National Housing Bank (NHB) has signed an Arrangement of Co-operation (AoC) with the Canada Mortgage and Housing Corporation (CMHC) and this is likely to accelerate the development and introduction of key financial innovations in the Indian housing finance system,.

According to the chairman and managing director, NHB, the arrangement of co-operation will pave the way for the introduction of reforms in the housing sector in the coming years through a market-oriented housing finance system.

Given CMHC's wide experience and exposure, the alliance will also cover the general areas of consultation and co-operation and will include housing finance related to mortgage insurance, mortgage-backed securities (MBS), regulatory and supervisory framework for housing finance system, rating/registration of builders, role of mortgage banks vis-a-vis mortgage finance institutions and development of secondary mortgage market with reference to the institutional structure.

Also included are the standards needed for investment, trading, listing in MBS, enabling Government policies for efficient market functioning, product development and marketing, capacity building and sensitisation programmes towards secondary mortgage market.
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