MPC Provides Testimony to HUMA Committee

Aug 24, 2020, 17:56 PM by Mortgage Professionals Canada

MPC provides expert testimony to House of Commons Standing Committee on Human Resources, Skills and Social Development and the Status of Persons with Disabilities (HUMA)

On August 17, 2020, MPC President and CEO Paul Taylor and MPC Chair Elaine Taylor provided their expert testimony to the House of Commons’ Standing Committee on Human Resources, Skills and Social Development and the Status of Persons with Disabilities, better known as HUMA. MPC discussed the Government’s response to the COVID-19 pandemic, especially from the perspectives of Canada’s mortgage brokering community and the thousands of clients our members have helped through the crisis. MPC thanked the federal government for swiftly coordinating and introducing financial support programs with OSFI, the Bank of Canada, CMHC and others, including other levels of government. These bold actions have assisted with financial system liquidity and business supports. MPC also discussed its recommendations to the government in recent weeks, including ending the delay to the mortgage stress test changes which were announced earlier in 2020, and on the mortgage deferrals situation.

We thank Chair Sean Casey and his fellow committee members for the invitation and for discussing the issues with us. It is noteworthy that we were HUMA’s last meeting of the parliamentary session and of the committee, as Prime Minister Trudeau prorogued Parliament the very next day. As described by the House of Commons, “In practice, as soon as Parliament is either prorogued or dissolved, all committee activity ceases and, as such, all orders of reference and committee studies lapse.” Regardless, the video highlights the discussions which will continue once Parliament resumes in September.