New implementation date of BC’s property rescission period
The implementation of the new home buyers’ rescission period in British Columbia has been changed from January 1 to January 3, 2023 New implementation date of BC’s property rescission period
FSRA report on innovation and technology in the Ontario mortgage services sector
FSRA has published a report identifying the need to consider open banking and technological innovation in future regulation. DOWNLOAD REPORT >>
BC – property purchase cooling off period details
For persons in British Columbia entering into a residential real estate transaction, here is the guidance on the new home buyer’s rescission period. Home Buyer Rescission Period Consumer Guide
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