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. […]
Mortgage Suitability for a Debt Consolidation Mortgage – Analysis of Ontario Case, K. Banx
A suitability analysis should explain why a mortgage makes sense for the borrower,not just whether a lender will approve it. Does it solve the problem the borrower came in with? Are the payments manageable? Are the costs justified? And how will the borrower repay it? The mortgage described in the Financial Services Regulatory Authority of […]
Second Mortgages Are Changing the Enforcement Playbook
In today’s distressed real estate market, enforcement risk is no longer driven solely by borrower default. As higher interest rates, refinancing shortfalls, and underperforming assets put pressure on borrowers, second mortgagees are taking a more active role—often seeking to acquire the first mortgage and assume control of enforcement. But an assignment of the first mortgage […]
Form 5 Lender Information Statements Under the BC Mortgage Services Act
Under the Mortgage Services Act and the Mortgage Services Rules, the obligation to provide a lender information statement is triggered by the mortgage transaction being arranged—not by whether the lender is represented by the licensee. Where a licensee arranges a mortgage in which another person will be the mortgagee, the licensee must provide the required […]
Form 5 Lender Information Statements Under the BC Mortgage Services Act
Under the Mortgage Services Act and the Mortgage Services Rules, the obligation to provide a lender information statement is triggered by the mortgage transaction being arranged—not by whether the lender is represented by the licensee. Where a licensee arranges a mortgage in which another person will be the mortgagee, the licensee must provide the required […]
BCFSA Guidance: Mortgage Broker Disclosure Forms Under the Mortgage Services Act
BCFSA has issued guidance on the disclosure forms mortgage brokers must use under British Columbia’s Mortgage Services Act (MSA) and Mortgage Services Rules (Rules). The guidance is important because the MSA strengthens existing disclosure obligations and introduces standardized forms. Where BCFSA prescribes a form, brokers must use the current BCFSA version exactly as published. The […]
OSC Opens a Potential New Pathway for Stablecoin Trading in Canada
Canada’s stablecoin regulatory landscape is continuing to develop, with securities regulators playing a central role while federal stablecoin legislation remains forthcoming. A recent Ontario Securities Commission decision may offer a meaningful new route for certain firms to facilitate immediate delivery trading in approved stablecoins with Canadian clients without Canadian dealer registration, subject to tightly framed, […]
CAPL Provides Feedback on BCFSA’s Proposed Fee Review Framework for Mortgage Services
The Canadian Association of Private Lenders has provided feedback to the British Columbia Financial Services Authority (“BCFSA”) on its proposed Fee Review Framework Discussion Paper and the potential implications for mortgage services. Read the feedback below. The Canadian Association of Private Lenders (“CAPL”) appreciates the opportunity to comment on the British Columbia Financial Services Authority’s […]