Government and Regulation

This is where you’ll find the latest on government programs, policies and regulations that impact the mortgage industry.

Ontario developer coalition asks governments for tax breaks to pass on to homebuyers

August 1, 2024 No Comments

A coalition of Ontario developers has written to three levels of government to ask for a reduction in taxes on new housing, saying it will pass on those savings dollar for dollar to homebuyers.

FSRA introduces stricter guidelines for mortgage broker licensing

July 19, 2024 No Comments

FSRA has issued new guidelines to enhance mortgage broker licensing standards, aiming to better protect homebuyers and investors.

OSFI delays capital floor increase for banks amid competitive imbalance concerns

July 12, 2024 No Comments

OSFI is pushing back implementation of a rule change that could have significant implications for Canadian lenders

FSRA CEO Mark White to step down for new position as Chair of Ontario Energy Board

July 5, 2024 No Comments

The head of Ontario’s mortgage broker regulator, Mark White, has confirmed he will be stepping down from his role as CEO later this month.

OSFI doubles down on keeping stress test for uninsured mortgage switches

June 13, 2024 1 Comment

The head of Canada’s banking regulator stood firm in rejecting renewed calls to remove the mortgage stress test on uninsured mortgage switches.

OSFI says mortgage payment shock poses a key risk to Canada’s financial system

May 22, 2024 No Comments

Canada’s banking regulator says high borrowing costs and a wave of expected renewals pose a key risk to Canada’s financial system.

FSRA revokes licences from 29 brokerages

FSRA strips licences of 29 Ontario mortgage brokerages

April 17, 2024 No Comments

FSRA has revoked the licences of 29 brokers who did not appoint a principal broker, failed to file their 2021 Annual Information Return, or failed to do both.

Budget 2024 housing highlights: capital gains inclusion rate on secondary homes rises to 66.7%

April 16, 2024 No Comments

Housing was a key priority in today’s federal budget, though it came as no surprise given the array of housing-related policy announcements unveiled in recent weeks.

In federal budget, Ottawa looks to Canada Post land for building housing supply

April 16, 2024 No Comments

The federal government is eyeing underutilized Canada Post and National Defence properties as a way to deliver affordability and supply to the country’s housing market.

Feds commit to exploring CRA income verification in budget 2024 to address mortgage fraud

April 12, 2024 8 Comments

The federal government today confirmed plans to consult with the mortgage industry on developing income verification tools through the Canada Revenue Agency.

↑