After taking a few months to get a feel for the place, one of the first things Evan Siddall did as president of Canada Mortgage and Housing Corp. was gather his leadership team to rewrite the agency’s mission statement.
Siddall’s previous job was as a senior adviser at the Bank of Canada, where he helped clean up after the financial crisis. That experience informed his overhaul of CMHC, which had grown so enthralled with juicing homeownership rates that it had become a threat to financial stability. The post-crisis leadership decided the Crown mortgage insurer would focus on the housing needs of Canadians, not their wants. To his credit, Siddall hasn’t shied from explaining what that means.
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