CAPL Advocacy: BCFSA’s Mortgage Services Forbearance & What Changes and What Does Not
CAPL raised two issues with BCFSA: exempt market dealer exemptions and Form 5 lender disclosure requirements. BCFSA has responded with some relief. In Advisory 26-038, dated October 6, 2026, the BC Financial Services Authority (BCFSA) has advised that the Superintendent of Mortgage Services will exercise regulatory forbearance effective October 13, 2026 in relation to the […]
Syndicated Mortgages and the MSA: CAPL Seeks Clarity on Exempt Market Dealer Licensing
How will British Columbia’s transition to the Mortgage Services Act affect exempt market dealers involved in non-qualified syndicated mortgage offerings? The Canadian Association of Private Lenders (CAPL) has written to the BC Financial Services Authority (BCFSA) seeking clarification on the licensing requirements and their implications for industry participants. The letter asks BCFSA to confirm […]
Does a Borrower’s Broker Need to Provide Form 5 to a Licensed Brokerage Lender?
When a licensed mortgage brokerage lends its own funds and is represented by its own broker, must the borrower’s broker also provide it with Form 5 lender disclosure? This question has created uncertainty among our members, particularly where separate brokers represent the borrower and lender, and the lender conducts its own underwriting and due diligence. […]