Protecting consumers in Ontario's mortgage brokering sector

Ontario’s financial services regulator (FSRA) is releasing its inaugural Private Residential Mortgage Lending in Ontario Report, which informs its supervision priorities in the mortgage brokering sector.

FSRA has made private mortgages a key focus of its mortgage brokering sector supervision plan in recent years to protect vulnerable consumers.

The report uses Teranet Ontario land registry data and highlights trends associated with private mortgages, underscoring the need for continued regulatory oversight in this area.

Data from the report is being used to inform FSRA’s 2024-2025 Mortgage Brokering Sector Supervision Plan, set to be released next month.

The insights will enhance FSRA’s regulatory strategies and consumer outreach programs aimed at protecting people getting or investing in a mortgage.

Learn more:

• Private Residential Mortgage Lending in Ontario Report 2023
• Mortgage Product Suitability Assessment Guidance
• What you need to know about private mortgages (consumer education campaign)

FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone.

Learn more at www.fsrao.ca.