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Industry News

We want to keep you informed of industry news and regulation updates. Please find below a collection of important documents for your review:

  • Bank using cash back to lure mortgage customers – an article by Mal Eccles, CMBA Chair, Regulatory Affairs. View here.
  • Opening remarks by OSFI to the House of Commons Standing Committee on Finance re: the study of the Canadian real estate market and home ownership, on Jan. 30, 2017. View here.
  • CMHC has released the summary of their consultations with Canadians for a National Housing Strategy. View here.
  • Help for first-time home buyers with $4,000 land transfer tax rebate as of Jan. 1, 2017. Finance Minister Charles Sousa shared this and other updates on Nov. 14. View here.
  • FSCO’s bulletin about “Your responsibilities to prevent mortgage fraud” sent Nov. 4. View here.
  • Fall edition of the MBRCC Newsletter, reveals new Strategic Plan, plus final stages of Disciplinary Database and new course accreditation standards program for brokers. View here.
  • Summary of new qualifying rules for mortgages announced by the Federal Government on Oct. 3. View here.
  • Higher capital requirements for mortgage insurers expected by January 1st. Draft public advisory released by OSFI on Sept. 23. View here.
  • OSFI expects banks to tighten up underwriting and due diligence by November 1st. View here.
  • Setting the record straight about syndicated mortgages – an article by David Mandel, Vice President of First Source Mortgage Corporation and former IMBA President. View here.
  • The summer edition of the MBRCC Newsletter, including new Executive committee announcements, licensing course review and provincial updates. View here.
  • Final Report regarding the mandate reviews of the Financial Services Commission of Ontario (FSCO), Financial Services Tribunal (FST), and the Deposit Insurance Corporation of Ontario (DICO). View here.
  • On May 31, IMBA (now CMBA) sent this response for input towards FSCO’s Statement of Priorities 2016 highlighting the need for more frequent industry meetings, higher educational standards and disseminating disciplinary information. View here.
  • FSCO’s 2014 Annual Information Return Results Summary Report. This report summarizes the responses collected from 1,148 mortgage brokerages and 122 mortgage administrators. View here.