Consultation on licence exemption guidance for mortgage transactions between sophisticated entities
Comments were provided by three stakeholders:
- Aimacon International Inc.
- Canadian Development Capital & Mortgage Services Inc.
Below is a summary of the comments received and FSRA’s responses.
Table 1: Stakeholder comments and FSRA’s responses
The 2019 Mortgage Brokerages, Lenders and Administrators Act, 2006 (MBLAA) Review Report to the Minister of Finance recommended that the Ministry of Finance work with FSRA “to develop and propose amendments to the MBLAA that would reduce regulatory burden on commercial mortgage transactions between sophisticated entities such as large companies and financial institutions.”