"[2] The Canada Mortgage and Housing Corporation is the agency responsible for administering the act, since its establishment in 1945.
It included as part of "Canada's New Deal" put forward by Prime Minister R. B. Bennett, who was facing an election with low support following his government's response to the Great Depression.
Taking inspiration from President Roosevelt's New Deal, Bennett proposed regulatory and social safety net legislation.
[4] Despite demands for affordable housing from social reformers, the DHA ended up setting the tone for all future housing legislation with the provision of loans for the wealthiest Canadians and promotion of homeownership and mortgage lending infrastructure.
[10] The NHA of 1954 was largely the same as the two previous NHAs in its objective to "maintain the private mortgage market," however did it replace the joint-loan program with a mortgage-loan one.