Are the MBS guaranteed by the government? I thought they were till I read this.
http://www.cmhc-schl.gc.ca/en/hoficlincl/mobase/mobase_001.cfm
Maximum security
As investments, NHA MBS are the only mortgage-backed securities fully guaranteed by CMHC on behalf of the Government of Canada.
Seems like a third party is insuring them for the government.
Your thoughts