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 […]
Mortgage Auto Renewal: Ontario Court Certifies Class Action Against Scotia
By Aron Hochhauser, Fulton & Company Law Corporation A recent Ontario Superior Court of Justice decision highlights potential consumer-law and lending-law risks arising from automatic mortgage renewal practices. In Abeywickrama v. The Bank of Nova Scotia et al, 2026 ONSC 3262, released June 4, 2026, the Court certified a proposed class action against The Bank […]
APL Letter to BCFSA: Clarification Request on NQSM/NQSMI Treatment Under the Mortgage Services Act Transition
CAPL has submitted a letter to the BC Financial Services Authority (BCFSA) requesting confirmation of our understanding of how non-qualified syndicated mortgages and non-qualified syndicated mortgage investments (NQSMs/NQSMIs) are treated under British Columbia’s current Mortgage Brokers Act framework and the upcoming Mortgage Services Act (expected to come into force in or around October 2026). The […]