Marlene Puffer and Michael Lea, in International Journal of Property Sciences, 2009.Read the Article
Dr. Puffer was part of a large team of consultants evaluating the Canada Mortgage Bond program which finances the majority of mortgage lending in the Canadian market. The focus of the study was on Canada’s residential mortgage market from 2001-2006, with an update following market developments since August, 2007. Twist Financial component reports included a report on Capital Markets, a report on Canadian Mortgage Markets (with KPMG), and a Literature Review, with Prof. Paul Halpern and Prof. Alexandra Mackay, from the Rotman School of Management, University of Toronto. Other consultants on the project included ALM Model Metrics, KPMG, Dr. Michael Lea of Cardiff Economic Consulting. The final summary report is here.
KPMG LLP – CMHC Report, August 2008. This report analysed the effectiveness of Canada Mortgage Bonds (CMB) as financing vehicles for Canadian residential mortgages and assessed the impact of the funding program on the cost of mortgages for Canadians.
Twist Financial interviewed markets participants associated with the CMB program, wrote extensive studies on the structure of Canadian mortgage and funding markets and on the academic literature that contributed to this report. Dr. Puffer wrote the Addendum on Current Market Conditions (Annex C of the Report) that updated the report’s findings to reflect the events and market reaction associated with the financial crisis.Read the Article
April 22, 2008, Toronto CFA Society luncheon, introductory remarks and moderator with Purdy Crawford, Francesca Guolo, and Andrew Kresse. Including live webcast. Click to read the handout summarizing the restructuring.Read the Article
September 24, 2007, Invited participant in a roundtable discussion with Canadian Capital Market Participants, Toronto, ON. Organized by the Department of Finance, OSFI, and Bank of Canada.