regulations Archives - Mortgage Rates & Mortgage Broker News in Canada

Mortgage industry braces for FINTRAC’s new AML rules starting October 11

October 10, 2024 No Comments

New FINTRAC regulations set to impact mortgage professionals nationwide.

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

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.

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.

Ottawa to allow 30-year amortization for first-time buyers’ mortgages on new homes

April 11, 2024 2 Comments

Advocates are praising Ottawa’s move to lengthen the amortization period on insured mortgages for certain homebuyers.

BC tables legislation to introduce anti-flipping tax

B.C. government targets ‘profiteers’ with legislation to bring in 20% flipping tax

April 4, 2024 2 Comments

British Columbia has tabled legislation to enact a 20 per cent flipping tax on those who sell their home within the first year of ownership.

The chief economist of the British Columbia Real Estate Association says the incoming tax on flipping houses may not generate as much revenue as the government expects and could only impact a small number of properties. A real estate sign is pictured in Vancouver, B.C., Tuesday, June, 12, 2018. THE CANADIAN PRESS Jonathan Hayward The chief economist of the British Columbia Real Estate Association says the incoming tax on flipping houses may not generate as much revenue as the government expects and could only impact a small number of properties. A real estate sign is pictured in Vancouver, B.C., Tuesday, June, 12, 2018. THE CANADIAN PRESS Jonathan Hayward

Real estate association economist doubts B.C.’s flipping tax is worth the trouble

February 26, 2024 No Comments

The chief economist of the British Columbia Real Estate Association says the incoming provincial flipping tax could end up reducing the overall number of homes on the market while only applying to a small number of properties.

“We don’t see vulnerabilities worsening,” OSFI says as it leaves capital buffer for big banks unchanged

December 8, 2023 No Comments

Canada’s banking regulator today announced no change to the amount of capital banks must keep on hand to cover potential future losses.

Several big banks to be impacted by OSFI’s new capital requirements for negative amortization mortgages

November 16, 2023 No Comments

Canada’s banking regulator recently confirmed it will move ahead with new capital requirements for lenders and insurers with negatively amortizing mortgage portfolios.

regulations