The project was made possible as a result of support from the Canadian Embassy in Jordan, and a feasibility study CMHC conducted in partnership with UAIC and Trycana Development (Canada), and funded by the Canadian International Development Agency (CIDA). In the event that both the JMIC and the securitization operation prove successful in Jordan, UAIC and CMHC will work jointly to explore other markets in the region. CMHC will also assist UAIC in developing a liquidity funding and securitization operation. It will enable Jordanian households to realize their dream of homeownership", said Dr. With CMHC's assistance we are looking forward to creating the Jordanian Mortgage Insurance Company (JMIC) to enhance Jordan's housing finance system. "By helping other countries make housing more accessible and helping Canadian companies find opportunities in new markets, CMHC is becoming an ambassador of Canadian excellence." "UAIC is very pleased to be working in close collaborations with CMHC. "CMHC is taking the lead in sharing Canada's housing expertise with the world," said Pierre David, Executive Director of CMHC International. CMHC has obtained a USD $1.8 million contract to provide technical expertise over five years to UAIC and other stakeholders to facilitate and support the implementation and operation of the new Jordan Mortgage Insurance Company (JMIC). OTTAWA, Canada Mortgage and Housing Corporation (CMHC) and the United Arab Investors Group of Companies (UAIC) held a signing ceremony in Jordan today to commence a project for the creation of a new mortgage default insurance company in Jordan.
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