Mortgage Brokering Technical Advisory Committee

Meeting summary

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

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

Market trends, emerging issues and regulatory updates

The Committee and FSRA shared observations on recent trends and emerging issues in the mortgage industry.  Topics discussed include shared home equity programs and no interest / payment mortgages.

FSRA also shared regulatory updates on the Mortgage Brokering Code of Conduct Promotion Campaign, Proposed Cyber Security Guidance and Financial Planner/ Financial Advisor Title Protection Framework.

Licensing updates and suitability guidance

FSRA provided licensing updates including an overview of the licensing process, trends and action plan. FSRA also sought the committee’s feedback on the development of the Licensing Suitability Guidance.

MBLAA review updates on proposed new classes of licensing

The Committee was updated on the MBLAA Review recommendation relating to establishing new classes of licensing and transition implications were discussed.

Next meeting

The next meeting of the committee will be scheduled for Winter 2022.

Attendance record

 

Invited/ Attended

 

Company Name

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

Akber Abbas

8Twelve Mortgage Corp.

VC

Sadiq Boodoo

Approved Financial
Services

VC

Ron Butler

Butler Mortgage

VC

Ryan Francis

Parama Credit Union

VC

Carla Gervais

The Mortgage Advisors (Verico)

VC

Elizabeth Gnoinski

Boss Mortgages – The
Mortgage Center

VC

Neil Gross

Component Strategies
Consulting

R

Victoria Joly

Distinctive Real Estate
Advisors Inc.

R

Alex Leduc

Mortgauge

VC

Anthony Pistillo

Riverrock MIC

R

Murray Snedden

MarshallZehr Group Inc.

VC

Marie Taylor

FCT

VC

Nathan Fahey

Ministry of Finance

VC

Ellis Martin-Wylie

Ministry of Finance

VC

FSRA members present:

Roy Dias, Nadiatou Fagbemi, Jennie Hodgson, Wendy Horrobin, Antoinette Leung, Huston Loke, Jelena Pejic and team members from FSRA’s Market Conduct team; Antonio LaCivita, Thera Medcof and Abina Rogers from Policy team were presented at the meeting. Marie Abraham, Sylvia Ezeard, Jessica Rose and Elissa Sinha from Legal and Enforcement team, as well as Fern Karsh from Consumer Office were also present.

Available in French upon request