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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128 published items match this view. We prioritize the effective date, then the announcement or last-update date.
Possibly, but proposed rent is not guaranteed income. The lender may require approved plans, a market-rent appraisal, completion conditions and an acceptable suite before using any amount. The percentage and calculation differ sharply across…
Act immediately. Contact the financial institution that sent or received the money, your lawyer, relevant lender and local police. Report the incident to the Canadian Anti-Fraud Centre, preserve evidence and secure affected email, banking…
Be cautious when someone guarantees they can stop enforcement, asks you to transfer title, demands large upfront fees, discourages your own lawyer or rushes you into a sale-and-leaseback you do not understand. Get an…
Because they change the borrower’s real down payment, debt load and ability to repay. A seller credit, private loan, family repayment agreement or borrowed closing cost must be disclosed and approved rather than kept…
The lender must understand whether the money is yours, borrowed, gifted or connected to a third party. Repeated transfers do not make funds stronger; they make the trail harder to verify and can delay…
Verify payment instructions through a trusted phone number before sending money, especially when an email changes the account or creates urgency. Do not rely on replying to the same email because a criminal may…
Title fraud occurs when stolen identity or forged documents are used to transfer or mortgage property without the true owner’s authority. Unexpected lender mail, land-registry notices, redirected mail, unfamiliar credit inquiries or someone asking…
No. If repayment is expected, the funds are not a genuine non-repayable gift. Disclose the loan or shared-equity arrangement so the lender can include the obligation and decide whether it is acceptable.
No. Occupancy affects mortgage insurance, down payment, pricing, rental-income treatment and risk. State the intended use accurately. Plans can change later, but the representation made when applying must be honest and updated if circumstances…
A straw buyer allows their identity, credit or title to be used for a purchase that is controlled or funded by someone else whose role is hidden. The person signing can become legally responsible…
Do not proceed. Altered pay stubs, T4s, bank statements or tax records can lead to decline, cancellation before funding, lender enforcement after closing and possible criminal or regulatory consequences. A difficult income file needs…
Yes. A preapproval or commitment does not prevent the lender or mortgage insurer from asking for updated documents or re-verifying employment before funding. The file may not always be re-checked, but you should plan…
It may be usable, but temporary and long-term benefits are not treated the same. The lender will usually examine the benefit source, amount, taxable status, review conditions and expected continuation before deciding what income…
No. CMHC identifies a non-repayable gift from a relative as a traditional down-payment source. If repayment is expected, it is a loan and must be disclosed so the lender and mortgage insurer can assess…
Yes, independent legal advice and a written co-ownership agreement are strongly advisable. The mortgage explains what the lender can demand; the co-ownership agreement explains how the owners intend to live, pay, decide, sell and…
Yes. Joint borrowers are responsible for the account, and reported late payments can affect every borrower connected with it. A family promise about who pays does not stop the lender from reporting the actual…
No. A person who signs as a joint borrower is generally responsible for the unpaid mortgage balance, not merely the income shortfall used to qualify. The lender can look to the co-signer if the…
Yes. The new mortgage or sale cannot close cleanly until the lawyer can pay the secured debt and deal with the registered charge. Missing payout instructions, secured lines, penalties or lender processing time can…
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.