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Mortgage Brokering Technical Advisory Committee
Meeting summary
Date: Wednesday, February 25, 2026
Time: 1:00 p.m. to 3:00 p.m.
Location: 25 Sheppard Avenue West, Suite 100
Toronto, ON M2N 6S6
Videoconference – Microsoft Teams
This summary sets out the key points discussed at the February 25, 2026 meeting.
Welcome
The Chair welcomed the new and returning TAC members to the meeting and expressed thanks for their engagement and feedback during meetings.
This was the first Committee meeting for 2026.
Legal and Enforcement – Private lending and the exemptions under the MBLAA
FSRA presented to the Committee on the private lending statutory framework and exemptions under the Mortgage Brokerages, Lenders and Administrators Act, 2006.
FSRA reiterated that private lenders must be licensed as a mortgage brokerage, or lend through a licensed mortgage brokerage, or through an exempt intermediary.
The presentation highlighted the higher costs, risks, shorter terms, frequent renewals, and interest-only payments typically associated with private mortgages, underscoring the need for thorough borrower product suitability assessments to ensure consumers have the protections under the Act that are to be performed by licensees and overseen by brokerages.
Terms of Reference and Rules of Engagement
FSRA reviewed key points from the Terms of Reference and Rules of Engagement, reminding all Committee members to review both documents thoroughly. FSRA emphasized that the TAC’s role includes providing industry perspectives on mortgage brokering matters, consumer risks, and regulatory initiatives.
Key engagement areas for TAC 2026
FSRA presented areas where it may engage the TAC for industry feedback in 2026:
- Consumer Education Project
FSRA aims to gather insights from the Consumer Office to better understand consumers’ experiences when working with a mortgage agent/broker and to identify gaps between broker communications and consumer understanding. - New Annual Information Returns (AIR)
FSRA noted efforts to reduce administrative burden by streamlining the AIRs, including fewer questions and improved efficiency in certain reporting processes.
Examination trends: Mortgage Brokerages
FSRA provided an overview of trends noted throughout the mortgage brokerage examinations in 2025. Observations were presented in three themes:
- Principal Broker (PB) supervision and oversight responsibilities
- Regulatory objective of record-keeping requirements under MBLAA
- Brokerage responsibilities at renewal
Next meeting
The next committee meeting is scheduled for Wednesday, May 6, 2026, from 1 p.m. to 3 p.m.
Attendance record
| Invited/attended | Company name | Attendance status (A)ttended; (R)egrets; (S)ubstitute; (VC)Teleconference |
|---|---|---|
| Sadiq Boodoo | Approved Mortgages | A |
| Richard Coleman | Atrium Mortgage Investment Corporation | A |
| Athena Constantinou | Sherwood Mortgage Group | A |
| Teresa Di Franco | Secure Mortgage Experts & Richview Capital MIC | A |
| Leigh Graham | The Mortgage Professionals | A |
| Deren Hasip | Mortgage Scout Inc. & Private Partners Capital | A |
| Alex Leduc | Perch | VC |
| Jennifer Rossides | MA Mortgage Architects | VC |
| Sona Shah | Coronation Group Inc. | A |
| Daniel Vyner | DV Capital | A |
| Elizabeth Wood | CMI Financial Group | VC |
| Kate Wybrow | FCT Insurance | R |
| Aleesha Allidina | Ministry of Finance | VC |
| Roxana Ntezimana | Ministry of Finance | R |
FSRA members present:
Martina Aswani (VC), Misato Bozorgi (A), Jeffrey Foti (A), David Ha (A), Jennie Hodgson(A), Reesha Hossein (VC), Antonio La Civita (VC), Antoinette Leung (A), Cheryl Mak (VC), Tim Mifflin (A), Fariba Mirhassanivahed (A), Natalia Molka(VC), Michael Scott (A), Elissa Sinha (A), Gina Stephens (A), Cheryl Szutu (A), Matthew Whitehead (VC), Chris Zolis (VC)