MBLAA Review & Updates from the Ministry of Finance

Important News from the Ministry of Finance

In January 2019 CMBA Ontario and Mortgage Professionals Canada  submitted comments to the Ministry of Finance regarding current and emerging issues with the Mortgage Brokerages, Lenders and Administrators Act, 2006 (MBLAA). Here are further highlights from the report to Ontario’s Minister of Finance, the Honourable Rod Phillips:

  • Recommends amendments to the MBLAA to reduce the regulatory burden on commercial mortgage transactions where the parties are large companies or financial institutions;
  • Maintain the current exemptions from licensure for simple referrals, those in the legal profession and employees of financial institutions;
  • Recommends the Ministry of Finance work with FSRA to create a registration regime for private/unregulated lenders that meet certain criteria.

These and other recommendations are set out in detail in the report to the Minister and can be found HERE

Launch Update from FSRA Ontario

It is with great pleasure that we announce that the Chief Executive Officer of Financial Services Regulatory Authority – Ontario (FSRA) will be a guest speaker at CMBA Ontario’s Annual Conference on April 4, 2019. Mr. White will speak about the launch of FSRA and how it will regulate the mortgage brokerage industry. This your opportunity to hear directly from the industry’s new regulator and find out what will be changing in 2019 and beyond.
FSRA will be assuming the regulatory functions currently delivered by the Financial Services Commission of Ontario and the Deposit Insurance Corporation of Ontario. In preparation for the transition, FSRA has announced new executive leadership appointments.
The team is comprised of individuals who have extensive experience in the sectors FSRA will regulate. In its announcement letter FSRA explains that the leadership team will be “responsible for supporting innovation and growth in the regulated sectors, driving continuous improvement and efficiencies across FSRA, and championing a culture that is effective, forward-looking, collaborative, empowered and decisive”.

ICYMI: Professional Development Symposium

ICYMI: Professional Development Symposium
November 21, 2018
On Wednesday, November 21st CMBA Ontario, in partnership with Appraisal Institute of Canada- Ontario, hosted the final Professional Development Symposium of the year!
We tackled the hot topic of Cannabis Legalization and the affects on the Canadian housing market.
CMBA would like to send a special thank you to Geoff Rabideau from Rabideau Law and Dan Brewer from AIC Ontario for their presentations on the Cannabis Legalization topic.
Geoff provided eye opening information on Bill C-45, and how the industry is developing strategies to deal with the legalization. Dan continued the conversation by delving into appraiser practices surrounding the topic of privacy, and what to look for in an inspection if there are plants being grown in a home

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BOC Rate Hike Update


On October 24th, the Bank of Canada announced a benchmark interest rate hike by a quarter of a percent to 1.75%.

They believe that the economic outlook remains solid, with the newly created US-Mexico-Canada Agreement in place instilling confidence in investors. In their latest policy statement, the BOC says that “the Canadian economy continues to operate close to its potential and the composition of growth is more balanced”.
Click HERE For the Full Press Coverage

Annual Conference Announcement

Meet the Speakers

The Voice – October 18, 2018


2019 Keynote Speaker

Tony Chapman

Moderator, Media Personality, Marketing Hall of Fame Legend

Delivering the 2019 Keynote Address is Tony Chapman! In a society that is consistently distracted by the screens in their hands, Tony will discuss how to side step these disruptions and get your message out to the masses. He believes that the most effective way to sell something, is to tell an attention worthy story. Through his keynote, he will take us on a journey showing us ways of how to distinguish ourselves among the masses by telling a story that speaks to your customer.

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FSRA Update & CMBA Symposium Changes

FSRA New Fee Rules & Request for Comment

The Voice – October 10, 2018

FSRA Ontario is gearing up to be up and running for April 1, 2019. Being the new entity in Ontario’s Financial Regulation sector, they sought consultation in the creation of rules to be set forth for their launch.
During the month of September, CMBA and other industry members were invited to meet with FSRA for consultations on proposed Fee Rules for the mortgage industry. Our goal in these consultations were to be the voice of our members, and to provide constructive feedback on their proposed rules and licensing cycle.
FSRA has posted a Notice and Request for Comment on these proposed rules. The deadline for comment submissions is January 4th 2019. CMBA Ontario will continue to monitor the process and continue to send updates.

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B-20 and It’s Effects on the Mortgage Industry

B-20 and It’s Effects on the Mortgage Industry

The Voice – October 4, 2018

Back in 2013, the B-20 rules as underwriting guidelines for residential mortgages came into effect. The rules were put in place as a direct response to the financial issues in the United States caused by “poor mortgage lending practices” (
Now, 5 years after these rules have come into effect, Canada’s housing market is said to be facing affordability issues. It is widely believed that it is become increasingly more difficult for first time home buyers to purchase a property. To deal with the affordability issues and the stress test, some young people are borrowing from parents to help with a down payment.

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Upcoming Events!

The BEST Industry Events

The Voice – September 27, 2018

CMBA Ontario is committed to providing symposiums, events and conferences that benefit our members. We have a great line up of Symposiums and Events coming up, so don’t miss out and register today!

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FSRA Update & Upcoming Events

FSRA Fee Rule Update

The Voice – September 20, 108

On Wednesday, September 5th representatives from CMBA Ontario attended a follow up consultation session with the FSRA (Financial Services Regulatory Authority)Board of Directors.
At this meeting, CMBA Ontario provided a joint presentation providing the FSRA Board with background industry information. They will be taking this information into consideration when building the new fee structure. Click here to learn more about FSRA’s announcement on the creation of the Ad Hoc Fee Rule Industry Advisory Groups and the new Fee Rules.
CMBA Ontario will continue to have an open dialogue with issues such as this, and keep you updated.

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