The Department of Finance (DoF) put new credit card regulations in force yesterday. A few of the rules also apply to credit lines and mortgages. The DoF says the new...
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Earlier this year, brokers got a scare when CRA issued a notice that potentially applied GST/HST to brokering activities. Prior to this, mortgage broker services had long been one of...
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In March, the government promised to “bring forward regulations” to standardize the calculation and disclosure of mortgage pre-payment penalties. This was a welcome gift for consumers who are fed up...
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In March, the government promised to “bring forward regulations” to standardize the calculation and disclosure of mortgage pre-payment penalties. This was a welcome gift for consumers who are fed up...
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Mortgage planners can take a very slight sigh of relief. Finance Minister Jim Flaherty said the Finance Department has “no intention of changing tax policy” on financial services. In response...
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The Independent Mortgage Brokers Association of Ontario (IMBA) calls the potential 13% HST on broker commissions “the most pressing issue facing mortgage agents and brokers right now.” It emailed an...
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Effective April 19, all high-ratio insured mortgages that have a variable rate or a fixed term under five years will be qualified using the greater of: the chartered bank 5-year...
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04Mar
Filed Under:
Government Related,
Mortgage Regulations by: Melanie & Robert McLister
The federal budget has just been announced. Below are some of the implications for the mortgage market: Pre-payment Penalties: The government will “bring forward regulations” to standardize the calculation and...
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18Feb
Filed Under:
Government Related,
Mortgage Regulations by: Melanie & Robert McLister
Just in from an official at the Finance Department: “The Government will provide additional details shortly” on which rate will be used to qualify mortgages starting April 19. That, of...
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17Feb
Filed Under:
Government Related,
Mortgage Regulations by: Melanie & Robert McLister
Yesterday’s mortgage rule changes sparked as many questions as answers. Here’s what we know (to the best of our knowledge) at this point. The quotes come from an insurer memo...
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