Licensed mortgage brokerages are no longer required to provide non-qualified syndicated mortgage investment (NQSMI) data on a quarterly basis. Instead, brokerages will now be required to report this data once a year as part of their Annual Information Return (AIR) filing.
FSRA adopted this change to make it easier for industry to report NQSMI activity by consolidating reporting requirements, reducing the need to file multiple reports.
This new requirement will be in effect starting with the reporting period commencing on January 1, 2022. In their 2022 AIR filing, licensed mortgage brokerages will be required to provide information related to their NQSMI brokering activities under FSRA’s jurisdiction for the period January 1, 2022 to December 31, 2022.
FSRA guidance on its Supervision Approach for NQSMIs effective July 1, 2021 was updated June 27, 2022 to reflect this change.