In 2020, we were able to achieve an important milestone toward our goal to create a Housing Data Exchange. We launched the first application designed for the Exchange, the Mortgage Industry Data Analytics Application (MIDAA).
The Housing Data Exchange will be a series of applications and tools designed to:
- close data gaps and drive sound business decision making
- improve housing affordability through up-to-date, standardized data
- simplify the exchange of data
- tailor the experience to maximize usability and impact
- gain new insights
Our goal is to give lenders, investors, builders, developers, policy makers, economists, academics and think-tanks data designed to fuel and inform data-driven decisions on housing.
MIDAA provides lenders, issuers and investors with access to two different interactive reports:
- Mortgage 360 is an interactive report focused on helping lenders benchmark their CMHC-insured portfolios against their peers. It also provides metrics on things like mortgage origination and default rates to identify outliers in performance.
- Securitization Analytics is an interactive report focused on helping National Housing Act Mortgage-Backed Securities issuers and investors analyze the performance of NHA MBS pools, assess pre-payment risk and predict performance as well as pricing of uninsured mortgages.
Both MIDAA reports are tailored to financial institutions with the goal of contributing to the stability of Canada’s financial system by allowing users to better understand performance and risk data.
As with any project, we took away valuable insights that will help us with the Housing Data Exchange and other applications:
- We need to bring applications to targeted audiences.
- Localized data insights are important to understand the priorities for affordable housing.
- We must be rigorous around data governance and security.
Our vision is to make it easier to understand housing by providing data and insights tailored to the user. For us, MIDAA is proving that not only is this possible, but also that applications and tools like this are allowing us to make great strides toward attaining our 2030 aspiration.