ID
2020-009

Type
Policy
Sector
Credit Unions and Caisses Populaires Sector
Status
Open
Date
Comment Due Date

The Financial Services Regulatory Authority (FSRA) is launching a consultation on its Draft Residential Mortgage Lending - Interpretation and Approach Guidance.

FSRA is developing principles-based guidance on residential mortgage lending to update existing standards and to ensure credit unions continue to adhere to best practices and operate with effective controls that may be applied in a flexible manner, as appropriate for this diverse sector.

Credit union leaders are responsible for situationally appropriate and effective credit and risk management frameworks that balance the varied needs of their depositor and borrower members. This will ensure that borrowers can achieve home ownership without putting the borrower or credit union at unnecessary risk.

We are seeking public and stakeholder input to the proposed guidance on residential mortgage lending. We invite you to submit feedback on FSRA's website until November 11, 2020.

For more information, visit Residential Mortgage Guidance FAQ.

FSRA is continuing to work with those we regulate to ensure financial safety, fairness and choice for consumers and members. Learn more at www.fsrao.ca.

#By submitting your content, you agree to have your materials posted on our engagement portal, used in reports and other materials prepared by Financial Services Regulatory Authority of Ontario (FSRA) that may be shared with the public. Content is moderated so that all posts are respectful and professional. The Freedom of Information and Protection of Privacy Act, R.S.O. 1990, c.F.31, applies to all online content.

Use left and right arrows to navigate between tabs.
No comments have been added to this consultation yet.
No questions have been asked about this consultation yet.