The most common home mortgage in Canada is the five-year fixed-rate closed home loan, instead of the U.S. where the most common type is the 30-year fixed-rate open home mortgage. Throughout the financial crisis and the taking place economic crisis, Canada's home mortgage market continued to function well, partly due to the residential home loan market's policy structure, which includes a reliable regulative and supervisory routine that uses to many loan providers.In April 2014, the Office of the Superintendent of Financial Institutions (OSFI) launched standards for home loan insurance suppliers targeted at tightening up requirements around underwriting and risk management. In a statement, the OSFI has mentioned that the standard will "provide clearness about finest practices in respect of domestic home mortgage insurance underwriting, which add to a steady financial system." This follows numerous years of federal government analysis over the CMHC, with former Financing Minister Jim Flaherty musing openly as far back as 2012 about privatizing the Crown corporation.