The most typical home mortgage in Canada is the five-year fixed-rate closed home mortgage, rather than the U.S. where the most typical type is the 30-year fixed-rate open home mortgage. Throughout the monetary crisis and the ensuing recession, Canada's home loan market continued to operate well, partly due to the domestic mortgage market's policy framework, which consists of an efficient regulatory and supervisory regime that uses to many loan providers.In April 2014, the Workplace of the Superintendent of Financial Institutions (OSFI) launched guidelines for mortgage insurance providers focused on tightening standards around underwriting and threat management. In a statement, the OSFI has specified that the standard will "offer clearness about finest practices in respect of domestic home loan insurance underwriting, which add to a steady financial system." This follows numerous years of federal government analysis over the CMHC, with previous Financing Minister Jim Flaherty musing openly as far back as 2012 about privatizing the Crown corporation.