The following disclosure forms are available for download from the Financial Services Regulatory Authority of Ontario’s (FSRA’s) Mortgage Brokering Forms page.

Form 1 – Investor/Lender Disclosure Statement for Brokered Transactions

This form must be completed by a licensed mortgage broker and provided to prospective lenders or investors who are considering an investment in a mortgage other than a non-qualified syndicated mortgage investment (NQSMI). While it does not need to be provided to a lender/investor that is a member of a designated class of lenders and investors (who has provided written confirmation of this to the brokerage), it is a recommended best practice to prepare a Form 1 for all transactions. The definition for this designated class of lenders and investors is provided in section 2 (1) of Ontario Regulation 188/08 Mortgage Brokerages: Standard of Practice.

  • Investments in mortgages are not insured by any government agency or other investor protection fund. Potential investors/lenders should always seek independent legal advice.
  • If an investor/lender does not understand some of the terms/words in the form, they may contact the mortgage brokerage and/or seek independent legal advice to better understand the investment they are considering.

Addendum for Construction and development loans

If a construction or development loan is involved, a mortgage broker must complete both Form 1 and Form 1.1 - Investor/Lender Disclosure Statement for Brokered Transactions: Addendum for Construction and Development Loans and provide them to the potential lender/investor.

Waiver for reducing the waiting period

Form 1.2 – Investor/Lender Disclosure Statement for Brokered Transactions: Waiver for Reducing the Waiting Period must be completed by a mortgage broker, on behalf of the mortgage brokerage, if an investor/lender is waiving their right to the minimum two business day disclosure time to reduce it to one business day. It must be used in addition to Form 1.

  • Investors/lenders are not required to waive their right to the minimum two-day waiting period. It is their choice.

Form 2 – Renewal Form

This form must be completed by a licensed mortgage broker and provided to lenders or investors who are planning to renew a mortgage other than an NQSMI.

  • If the mortgage is renewing with the same lender, the existing lender must receive this completed form. This requirement does not apply if the investor/lender is a member of a designated class.
  • If a new investor is replacing the existing lender, then Form 1 must be completed instead of Form 2.

Waiver for reducing the waiting period on renewal

Form 2.1 – Investor/Lender Disclosure Statement for Brokered Mortgages on Renewal must be completed by a mortgage broker, on behalf of the mortgage brokerage, if an investor is waiving their right to the minimum two business day disclosure time to reduce it to one business day. It must be used in addition to Form 2.

  • Investors/lenders are not required to waive their right to the minimum two-day waiting period. It is their choice.
  • A business day means a day that is not a Saturday or a holiday, as defined in s. 87 of the Legislation Act, 2006. For further clarity, business days are Monday to Friday, unless any of those days are statutory holidays.