Canada & Ontario mortgage rule watch
See verified rules, programs and important dates without confusing a regulator’s role with an individual lender’s approval policy.
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Clear status labels prevent an announcement or proposal from being mistaken for a rule already in force.
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140 published items match this view. We prioritize the effective date, then the announcement or last-update date.
Not always. A switch at maturity may avoid an early-payment penalty, but appraisal, legal, registration, assignment, discharge and setup costs can remain. Some lenders cover selected costs, subject to conditions.
OSFI says federally regulated lenders are not expected to apply the minimum qualifying rate when an uninsured mortgage switches at renewal with no increase to the loan amount or amortization. The new lender still…
Do not do it without independent legal advice. FCAC warns that foreclosure-rescue fraud can involve persuading a distressed homeowner to transfer title in exchange for a loan, after which the fraudster may resell or…
Yes. CRA can register a lien or charge against property to secure an unpaid tax debt and may seize or force a sale. A registered claim must be addressed in the title, payout and…
For most municipal land, a tax-arrears certificate may be registered when arrears remain on January 1 of the third year after the taxes became owing. If the cancellation price is not paid within one…
A properly preserved condominium lien has statutory priority over most registered and unregistered encumbrances, subject to the Act’s exceptions. That priority is why a mortgage lender may act quickly when notified of condo arrears.
The condominium corporation has a statutory lien when an owner defaults on common expenses. The lien expires three months after the default unless the corporation registers a certificate of lien within that period.
Sale money is applied in the legal priority order: enforcement expenses, the selling mortgage debt and later entitled claims, with any residue going to the mortgagor. If proceeds are insufficient, the borrower may still…
Sometimes arrears and enforceable costs can reinstate the mortgage, but not always. If the debt has matured, been accelerated or reached a later enforcement stage, the lender may require the full redemption amount. Obtain…
Ontario law requires notice to specified people with registered or protected interests, including the mortgagor and certain later interest holders. A second mortgage holder may respond to protect its security, so the borrower should…
No. Ontario’s Mortgages Act contains different routes. A contractual power of sale commonly uses the Part III notice framework, while the statutory power in Part II provides for 45 days’ notice. The mortgage, notice…
No, the home is not normally sold the day a payment is missed. But a missed payment can be a mortgage default, allowing the lender to start collection and eventually enforcement under the mortgage…
Parents may access a HELOC, refinance or second mortgage, but their payment, risk and retirement plan must be reviewed alongside the buyer’s mortgage.
A co-signer is not removed automatically; the remaining borrower must qualify and the lender and lawyer must approve the change.
A co-signed mortgage can affect the parent’s debt-service calculation, credit exposure and plans to renew, refinance or buy another property.
A credible exit identifies who will repay the temporary lender, when, from what verified source and what happens if the first plan fails. “Rates will fall,” “income should improve” or “the property will sell…
Possibly. Alternative/B lenders may consider recent arrears when income, explanation and equity support the file. MIC and private lenders may focus more on equity and exit. The right route depends on how serious the…
Selling can protect equity when the payment is no longer sustainable or refinance costs are too high. Compare the likely net sale proceeds with the cost and probability of a refinance. Get legal advice…
How to read this centre
Sets laws, program requirements or prudential boundaries. FSRA regulates; it does not write every lender’s underwriting policy.
Applies only when the mortgage or client fits that insured product or program. It should not be generalized to every conventional deal.
Decides its own acceptable income, property, credit and exception policy inside the applicable rules.
Mortgage rule second opinion
Share the change you are concerned about, your timing and the client problem. Rajiv can help separate the confirmed rule from assumptions and identify questions worth exploring across A, alternative/B, MIC or private lending where appropriate.