New High Cost Credit Licensing in Newfoundland
Newfoundland is now the 5th province to regulate high cost credit lenders. Consumer Protection and Business Practices Act Amendments Designed to Protect High-Cost Credit Borrowers
Lawyers call for government to revisit foreign buyers’ ban
The Federation of Ontario Law Associations raises serious concerns with the proposed regulations for the foreign buyers’ ban, to be implemented in January of 2023. Read their letter here
Mortgage fraud in private lending predicted to increase
This article from Gowling calls for increased vigilance from the private lending sector to combat increased threats of mortgage fraud. Protecting against private lender mortgage fraud
US sees the emergence of “crypto mortgages” – could they come to Canada?
Crypto mortgages are loans where crypto currency is used as security for the real estate purchase. A new concept, with some benefits and pitfalls. “Crypto-Mortgage”- Do the Benefits Outweigh the ...
BC – property purchase cooling off period details
Some further details concerning British Columbia’s new cooling off period for real estate purchases have been unveiled. A three day cooling off period, enabling purchasers to conduct due diligence and ...
US develops framework for regulation of crypto with international bodies
US develops framework to regulate digital assets with International regulatory bodies -the framework’s policy objectives also include reducing the potential use of crypto for illicit finance, promoting access to financial ...