Response to Canadian Securities Administrators

by Mortgage Professionals Canada | Jun 06, 2018
Our response to the proposed amendments to syndicated mortgage exemptions.

Mortgage Professionals Canada supports stronger consumer protections and increased regulatory oversight for syndicated mortgage activity. Without making adjustments to the proposed regulations, we are concerned that many businesses that arrange smaller syndicated mortgages will face such high regulatory costs that they will no longer be able to offer these products and will exit the industry. Our submission makes recommendations to better achieve a balance between the expected industry cost burden and consumer protections.