2021-2022 Mortgage Brokering Sector Supervision Focus
The current low interest environment is fueling demand for homes as well as interest in real estate and mortgage investments. This raises certain consumer protection risks.
FSRA’s goal is to respond to market needs and demands, and ensure consumers have knowledge and protection for their mortgage or mortgage investments.
Based on our supervision findings and analysis of the current environment, FSRA’s 2021-2022 supervision focus in the mortgage brokering sector are:
- mortgage brokerage’s practices in private lending;
- mortgage administrator’s activities, especially those administering riskier mortgages for non-sophisticated investors;
- continued analysis of Principal Broker supervision questionnaire responses, with the goal of publishing best practices guidance; and
- monitoring development of the non-qualified syndicated market investment (NQSMI) market after transferring certain oversight responsibilities to the Ontario Securities Commission.
To learn more, see Mortgage Brokering sector supervision plan 2021-22.
2020-2021 Mortgage Brokering Sector Supervision Findings
- Principal Broker Supervision
- Evolution of NQSMI Supervision
- Real-time Supervision of NQSMI
- Legacy NQSMI Review
Previous supervision plans:
FSRA protects consumers in the mortgage brokering sector by overseeing the conduct of over 15,000 licensed agents, brokers, brokerages and administrators.