FINTRAC Mortgage Sector Compliance Checklists
FINTRAC’s mortgage sector guidance makes clear that anti-money laundering and anti-terrorist financing compliance obligations are tied to the specific role an entity plays in a mortgage transaction. Where a mortgage broker, lender, and mortgage administrator are each involved in the same file, each may have separate and independent obligations under the Proceeds of Crime (Money […]
CAPL Highlights the Need for Stronger Mortgage Oversight in B.C
The Canadian Association of Private Lenders (CAPL) is contributing an important industry perspective to the discussion around British Columbia’s upcoming Mortgage Services Act, underscoring the need for a mortgage regulatory framework that is both effective and responsive to evolving fraud risks. In a recent Business in Vancouver article examining B.C.’s mortgage industry overhaul, CAPL was […]
British Columbia Introduces Credit Freeze Protections to Help Prevent Fraud
New amendments will give consumers stronger tools to help prevent fraud and improve control over access to their credit files. The Canadian Association of Private Lenders (CAPL) welcomes British Columbia’s introduction of credit freeze protections for consumers through the Business Practices and Consumer Protection Amendment Act (No. 2) (Bill 28), which received Royal Assent on […]
Why a Mortgage Broker Cannot Directly Hire a Licensed Assistant in British Columbia and What to Do Instead
In British Columbia, mortgage brokers often want to build more efficient practices by adding licensed support. That may be true whether the broker operates personally or through a personal mortgage corporation (“PMC”). The commercial goal is straightforward. If a licensed assistant can help manage files, support clients, and assist with mortgage work, the lead broker […]
Ontario’s HPA: What the New NOSI Rules Mean for Mortgage Brokers and Lenders
Ontario’s Homeowner Protection Act (HPA) took effect on June 6, 2024. It changes how certain notices can appear on a home’s title and removes a common source of last-minute surprises in mortgage deals. If you arrange mortgages or fund them, this matters because these notices used to slow down closings, create borrower stress, and sometimes […]
Strong Borders Act AML reforms — what mortgage lenders and brokers in Canada need to know
Canada’s anti-money laundering (AML) rules just got sharper teeth—and mortgage lenders and brokers are squarely in the spotlight. Over the past two years, the federal government has moved from signalling major AML reform to enacting it. In 2024, the government previewed a significant strengthening of Canada’s AML framework. That preview became a concrete legislative proposal […]
Ontario HST New Home Rebate (Proposed) — What Lenders and Brokers Need to Know (as of March 25, 2026)
In a move aimed at improving housing affordability, the Ontario government announced on March 25, 2026 a proposed enhanced HST rebate on eligible new homes. If implemented, this program can materially reduce a borrower’s cash-to-close and/or overall financing requirement—particularly on homes up to $1 million—making it a key planning item for pre-approvals, builder deals, […]
Big White “Seller Impersonation” Fraud: Why Real Estate Needs Expert KYC Screening
Kirby v. Turner, 2026 BCSC 510 (Supreme Court of British Columbia) A B.C. Supreme Court case out of Kelowna shows how easily a real estate transaction can be hijacked when identity verification is treated as a paperwork step instead of a risk-control process. In Kirby v. Turner (2026 BCSC 510), a Kelowna couple believed they […]
The “Trust Account Halo” Can Backfire: Private Lending Lessons from Law Society of BC v. Soon
Private mortgage deals often move fast, rely on relationships, and lean on professionals to make transactions feel safe. A recent Law Society of British Columbia discipline decision is a reminder that comfort and credibility are not substitutes for controls—especially when a lawyer is involved in moving funds and documenting transactions. In Law Society of BC […]
Mortgage Suitability Case Note: “Gift-as-Loan” Structuring, High-Cost Second Mortgages, and Missing Brokerage Oversight (Ontario FSRA Settlement)
What this case is about Ontario’s regulator (FSRA) settled an enforcement matter involving a licensed mortgage broker, his supervised agent, and a related lending company used to advance funds. The file raises classic mortgage suitability concerns: a borrower transaction was completed using paperwork describing funds as a non-repayable gift when the funds were actually a […]