On January 3, 2023 the B.C. government implemented changes to the Property Law Act to make the Home Buyer Rescission Period (“HBRP”) or ‘cooling-off period’ mandatory for residential real estate transactions. While the HBRP doesn’t include specific requirements or changes to practice for mortgage brokers, a foundation of knowledge about the HBRP will help you to respond to any questions you may receive from clients. 

This hour-long information session, presented by MPC in partnership with BC Financial Services Authority (“BCFSA”) is designed to help mortgage brokers build their understanding of the HBRP.  You will hear from expert speakers in BCFSA’s Education and Licensing department and its Policy and Stakeholder Engagement department, who will provide an overview of:  

• what the HBRP is, how it works, and the new requirements for real estate licensees 

• how it will impact buyers and sellers, and

• where you can find regulatory information on the HBRP, answers to common questions, and resources to share with buyers on BCFSA’s website.

The session will include a review of Frequently Asked Questions contributed in advance by webinar audience members.  Email us with any questions at webinars@mpc.ca no later than January 25, 2023.

Pamela Skinner is Senior Vice President of Education, Licensing and CUDIC Operations at BCFSA. She is responsible for planning and implementing regulatory and business solutions strategies in these areas. With over 30 years’ experience in banking and regulatory services, Pam has deep expertise in licensing, education, and professional advisory services. Her regulatory experience includes serving as Vice President of Education and Licensing with the Real Estate Council of British Columbia. Pamela’s full bio can be found on BCFSA’s website. 

Saskia Tolsma is Vice President, Policy and Stakeholder Engagement at BCFSA. She is responsible for developing policies and best practices and operationalizing an engagement strategy for BCFSA as a modern, effective and efficient regulator. She leverages over 15 years of experience in policy and regulatory development, including extensive work with a variety of government partners, regulators, and external stakeholders in order to provide strategic advice on how BCFSA meets its commitments for meaningful engagement and transparency. Saskia’s full bio can be found on BCFSA’s website.  

Carmen deFoy is the Manager of Practice Education at BCFSA, where she develops education programs, professional guidance materials and consumer-focused resources. She leads a team of practice standards advisors who provide advice to hundreds of real estate consumers and industry professionals each month. Carmen holds a BA from Simon Fraser University, a certificate of investigations and enforcement from the Justice Institute of BC and is nearing the completion of her Master of Business Administration at Thompson Rivers University. 

Emily Shaw is the Manager of Policy at BCFSA. In her current role, Emily leads policy and legislative work for B.C. Financial Services Authority (BCFSA) in relation to real estate services and real estate development marketing. Emily has nearly two decades of experience in policy, acquired through various roles in both the federal and provincial public service. She joined the former Office of the Superintendent of Real Estate in 2017, prior to that organization’s amalgamation with the BCFSA.