OSFI update on mortgage proposals a positive step for industry, says expert

Houses for sale in Ottawa

That was a further step in the right direction, Boutros said. “That is the kind of thing that needs to be put forward a little bit more, and for the last few years we’ve all been trying to understand the rationale for the resistance behind it,” he said.

With issues related to the CERB (Canada Emergency Response Benefit) and others having faded, he said attention can now be put towards “working with FRFIs to come up with a plan to have better access to CRA data to protect the Canadian market, Canadian consumer, and mortgage brokering industry.

“I think it’s a positive, and a lot of people out there do – certainly, many people in the industry have for quite a while,” he added. “Now that OSFI is adding its name to the list, as CMHC [Canada Mortgage and Housing Corporation] did a few years ago, certainly it’s a positive.”

Make sure to get all the latest news to your inbox on Canada’s mortgage and housing markets by signing up for our free daily newsletter here.

Source link
Ottawa New Listings

Leave a Reply

Your email address will not be published. Required fields are marked *