80 (1) The Corporation may make loans and contributions to a province, municipality or public housing agency for the purpose of assisting that province, municipality or agency to acquire or service land for housing purposes or for any incidental purpose and make loans to refinance debt that the Corporation is of the opinion relates to the acquisition or servicing of land for those purposes, and may forgive amounts owing on those loans.

61 (1) The Corporation may make loans and contributions to cooperative associations and to their members in respect of housing projects, make loans to cooperative associations and their members to refinance debt that, in the opinion of the Corporation, relates to a housing project, and forgive amounts owing on those loans.

As a rule, the EU guarantee shall not be granted for supporting refinancing operations (such as replacing existing loan agreements or other forms of financial support for projects which have already partially or fully materialised), except in exceptional and well-justified circumstances where it is demonstrated that such a transaction will enable a new investment of an amount at least equivalent to the amount of the transaction and that would fulfil the eligibility criteria and general objectives laid down in Article 6 and Article 9(2) respectively.

It should therefore apply to credits secured by immovable property regardless of the purpose of the credit, refinancing agreements or other credit agreements that would help an owner or part owner continue to retain rights in immovable property or land and credits which are used to purchase an immovable property in some Member States including credits that do not require the reimbursement of the capital or, unless Member States have an adequate alternative framework in place, those whose purpose is to provide temporary financing between the sale of one immovable property and the purchase of another, and to secured credits for the renovat ...[+++]ion of residential immovable property.

grant credit based on sound and well-defined criteria and clearly establish the process for approving, amending, renewing and re-financing loans to exposures to be securitised as they apply to exposures they hold.

In recent years, it has introduced insurance for loan-to-value ratio refinancing loans provided to occupant-owners, and for mortgage guaranteed lines of credit, to provide Canadians with more flexibility in managing their finances.