There are currently 3 companies that offer mortgage default insurance: The Canada Mortgage and Housing Corporation (CMHC) – This is a crown corporation that is more or less the government providing an option for mortgage default insurance. The CMHC is often the main insurance people consider for Mortgage Default Insurance, but there are two private companies worth considering as well. Sagen (previously called Genworth Canada) is the largest private mortgage insurance provider in Canada. They have a number of programs and will likely come up on your radar if you’re looking at mortgage insurance. Canada Guaranty was formed in 2010 through the acquisition of another mortgage insurance company to become the only 100% Canadian-owned private mortgage insurance company. As the CMHC made their requirements for mortgage insurance stricter in 2020, both private providers declined to do so. As such, you’ll likely see good options from one of these two private providers even if you get declined from the CMHC.