Today, UFFI can still exist in the walls of your home. CMHC insures properties that contain UFFI. If it was installed correctly, UFFI can continue to be adequate insulation. Houses with UFFI show no higher indoor formaldehyde levels that those without it. If the UFFI has deteriorated to dust, there will be no effective insulation in the walls and this should be remedied. If you find wet or deteriorating insulation in your walls, be it UFFI or any other insulation, the source of the moisture problem should be repaired and the insulation reinstalled or replaced. New houses often have significant indoor formaldehyde levels, due to construction materials, finishing and furniture, many of which contain formaldehyde.