The checklists below provide a summary of compliance requirements and industry best practices in an easy-to-read format. They are based on the standards of practice regulations under the Mortgage Brokerages, Lenders and Administrators Act, 2006 (MBLAA). Mortgage brokerages, administrators, brokers and agents are strongly encouraged to use these checklists in their day-to-day business.
The following checklists cover the practice and reporting requirements under the MBLAA and regulations:
- Compliance Checklist for Managing the Mortgage Brokerage
- Compliance Checklist for Mortgage Brokerages, Brokers and Agents
- Compliance Checklist for Mortgage Administrators
- Compliance Checklist for Managing the Mortgage Administrator, Keeping Records and Trust Accounts
Mortgage fraud checklist
Mortgage fraud is a growing problem estimated to cost hundreds of millions of dollars in Canada each year. In consultation with industry stakeholders, the Financial Services Regulatory Authority of Ontario (FSRA) developed this checklist as a helpful fraud prevention tool for Ontario’s mortgage brokering industry.