Canada Dials Back Stricter Mortgage Proposal

Canada’s Office of the Superintendent for Financial Institutions has dialed back a proposal that would have required borrowers to provide new proof of creditworthiness whenever they renew their mortgages. The OSFI now agrees with banks, which require proof of income and property valuation, among other things, when seeking a renewal.

  • 07 Jun 2012
Canada’s Office of the Superintendent for Financial Institutions has dialed back a proposal that would have required borrowers to provide new proof of creditworthiness whenever they renew their mortgages. The OSFI now agrees with banks, which require proof of income and property valuation, among other things, when seeking ...

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