Mortgage Brokering Technical Advisory Committee
Meeting summary
Date: Wednesday, June 22, 2022
Time: 1:30 p.m. to 3:30 p.m.
Location: Videoconference
This summary sets out the key points discussed at the June 22, 2022, meeting.
FSRAForward – Mortgage Brokering portal update
FSRA provided an update on upcoming improvements to the Mortgage Brokering Portal as part of the FSRAForward initiative and discussed opportunities for the sector to provide feedback.
FSRA’s Consumer Office survey
FSRA presented an overview of the 2022 Consumer Research Survey conducted to understand the experience of consumers in the mortgage brokering sector. The TAC committee and FSRA discussed the survey results.
Mortgage brokers and mortgage administrators fees
FSRA provided an update on the mortgage brokering sector Fee Rule review and the potential fee models being considered. The Committee provided feedback on the proposed fee models.
Mortgage fraud
The Committee and FSRA discussed the development of guidance that sets out FSRA’s expectations concerning actions licensees must proactively take to identify and follow up on document falsification.
Market trends and 2022-2023 supervision focus
FSRA shared the 2022-2023 supervision focus indicating that attention will be on processes around assessing suitability of a mortgage for the client and principal broker supervision practices.
Next meeting
The next meeting of the committee will be scheduled for September 30, 2022.
Attendance record
|
Invited/ Attended |
Company Name |
Attendance Status (A)ttended; (R)egrets; (S)ubstitute; (VC)Teleconference |
|---|---|---|
|
Sadiq Boodoo |
Approved Financial Services
|
VC |
|
Guido Di Franco |
Richview Capital MIC Inc. / Mortgage Architects Experts |
VC |
|
Kevin Fettig |
CMI Financial Group |
VC |
|
Carla Gervais |
The Mortgage Advisors (Verico) |
VC |
|
Elizabeth Gnoinski |
Boss Mortgages – The Mortgage Center
|
VC |
|
Neil Gross |
Component Strategies Consulting
|
VC |
|
Victoria Joly |
Distinctive Real Estate Advisors Inc.
|
VC |
|
Alex Leduc |
Perch (Mortgauge) |
VC |
|
David Morrison |
Morrison Financial |
VC |
|
Anthony Pistillo |
RiverRock MIC |
VC |
|
Murray Snedden |
MarshallZehr Group Inc. |
VC |
|
Marie Taylor |
FCT |
VC |
|
Gina Stephens |
Ministry of Finance |
VC |
FSRA members present:
Nadiatou Fagbemi, Jennie Hodgson, Wendy Horrobin, Antoinette Leung, Huston Loke, Jelena Pejic, and team members from FSRA’s Market Conduct team; John Huynh, Fern Karsh, Thera Medcof and Jisha Serwar from Policy team were present at the meeting. Tamara Brooks, Elissa Sinha and Michael Spagnolo from Legal and Enforcement team, Mai Vo from Financial Planning and Analysis team, John Slowakiewicz and Allison Wendt from Digital Transformation, as well as Serina Yau from FSRA’s Public Affairs team were also present.
Available in French upon request