Mortgage brokering technical advisory committee

Meeting summary

Date: Monday, January 25, 2021
Time: 10:00 a.m. to 12:00 p.m.
Location: Videoconference

This summary sets out the key points discussed at the January 25, 2021 meeting.

Purpose of the committee

The committee will provide advice to FSRA management on the mortgage and real estate markets, and current and emerging real estate finance issues. FSRA will use this information to assess actual and potential impacts to consumers in general, borrower’s access to credit and the business and operations of the mortgage brokering industry in particular.

The committee will also provide input and feedback to FSRA management on matters related to Rules of Practice and Procedure, Filing Requirements, Guidelines, operational policies and other matters on any emerging issues affecting the sector.

Transparency of enforcement initiative

The Committee was presented with an overview of FSRA’s initiative to communicate enforcement actions more broadly. This initiative is critical to fulfilling FSRA’s statutory mandate to deter non-compliance, contribute to public confidence in the sector and protect the interests of consumers.

Consumer awareness initiative

FSRA indicated that it would like to raise awareness about the risks of private mortgage investments and to provide helpful tips to consumers. The Committee discussed methods for communicating to consumers about this type of investment.

Principal broker supervision

FSRA shared preliminary observations from its Principal Broker Supervision Questionnaire and sought the committee’s feedback on potential areas of guidance.

Mortgage Brokerages, Lenders and Administrators Act, 2006 (MBLAA) Review Recommendations

The committee was presented with an overview of the seven MBLAA Review recommendations, including the process to seek industry feedback. The key themes of the recommendations are to reduce industry’s burden and strengthen consumer protection.

Proposed supervisory focus

FSRA shared its proposed preliminary supervision focus for 2021- 2022 and list of key topics to be discussed with the committee.

Next meeting

The next meeting of the committee will be scheduled for Spring 2021.

Attendance record

Invited/ Attended

Company Name

Attendance Status
(A)ttended; (R)egrets; (S)ubstitute; (VC)Teleconference

Akber Abbas

8Twelve Mortgage Corp.


Sadiq Boodoo

Approved Financial


Ron Butler

Butler Mortgage


Ryan Francis

Parama Credit Union


Carla Gervais

The Mortgage Advisors (Verico)


Elizabeth Gnoinski

Boss Mortgages – The
Mortgage Center


Neil Gross

Component Strategies


Victoria Joly

Distinctive Real Estate
Advisors Inc.


Alex Leduc



Anthony Pistillo

Riverrock MIC


Murray Snedden

MarshallZehr Group Inc.


Marie Taylor



Elizabeth Elder

Ministry of Finance


Gina Stephens

Ministry of Finance


FSRA members present:

Nadiatou Fagbemi, Jennie Hodgson, Wendy Horrobin, Bill Jandrisits, Antoinette Leung, Huston Loke and Cheryl Mak from FSRA’s Market Conduct team; Rocca D’Angela, Joel Gorlick, Thera Medcof and Abina Rogers from Policy team, and Jessica Rose and Elissa Sinha from Legal and Enforcement team were present at the meeting. Melissa Hogg and Serina Yau from FSRA’s Public Affairs team, as well as Fern Karsh from Consumer Office were also present.

Available in French upon request.