CanEquity Mortgage Canada
Canadian mortgage rates,
mortgage calculator & news.

Canadian Mortgage News

August 2007 National News Archive


Related Links:
National Archive
2007 Archive
January 2007
February 2007
March 2007
April 2007
May 2007
June 2007
July 2007
August 2007
September 2007
October 2007
November 2007
December 2007

CanEquity Mortgage News RSS 2.0 Feed

CanEquity Mortgage News Atom Feed

About RSS and Atom Feeds

Portable Document Format Printable Version Page d'accueil franšais

Ontario’s First On-Reserve Housing Trust Agreement Signed Today by CMHC and Wikwemikong Indian Band

OTTAWA, Ontario, August 15, 2007 — Ontario’s first trust agreement under Canada Mortgage and Housing Corporation’s (CMHC) On-Reserve Homeownership Loan Insurance Pilot was signed today by the Wikwemikong Unceded Indian Reserve and CMHC, on behalf of the Government of Canada.

This agreement provides enhanced access to homeownership loan insurance to First Nation members of the Manitoulin Island reserve.

"Today’s agreement will improve the availability of market housing for this First Nation community. It will expand access to homeownership financing by further facilitating the flow of private-sector lending for housing purposes,” said the Honourable Monte Solberg, Minister of Human Resources and Social Development and Minister Responsible for CMHC. "This agreement will help expand the benefits of market housing to the Wikwemikong and can serve as a model for other First Nations communities across the country who are looking for new ways to help their members enjoy greater access to homeownership."

CMHC’s On-Reserve Homeownership Loan Insurance Pilot supports the Government of Canada's commitment to work with Aboriginal peoples on a comprehensive and transformative approach that will allow them to meet their housing needs over the long term.

“Our community believes that this agreement broadens our housing options. This pilot project allows qualifying Band members to apply for independent financing so that they can realize their housing goals," said Chief Robert Corbiere.

Wikwemikong has been taking advantage of various CMHC programs for more than 15 years to help address their housing needs. For example, they have built more than 300 units of assisted housing, and they are breaking ground on a 30-unit assisted housing apartment building — the largest multi-unit project ever under CMHC’s On-Reserve Non-Profit Housing Program in Ontario. They have successfully used training programs on mold remediation to address problems on the reserve and shared that knowledge with other bands to help them manage their mold issues.

The Pilot product is just one of a number of tools available to help First Nations pursue market housing objectives. Earlier this year, Canada’s New Government announced the First Nations Market Housing Fund to provide additional financing options to First Nation communities. These are two ways in which this government is working to provide First Nations on-reserve with the same housing opportunities and responsibilities as other Canadians.

Canada Mortgage and Housing Corporation (CMHC) has been Canada's national housing agency for more than 60 years. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes, while making vibrant, healthy communities and cities a reality across the country.

Additional information about the operation of the On-Reserve Homeownership Loan Insurance Pilot is available on CMHC’s website at

For more information, please contact:

Kristen Scheel
Media Relations

News source: Canada Mortgage and Housing Corporation (CMHC)


Top of page