Mortgage Brokering Technical Advisory Committee

Meeting Summary

Date: Thursday, September 29, 2022
Time: 10:00 a.m. to 12:00 p.m.
Location: Videoconference

This summary sets out the key points discussed at the September 29, 2022, meeting.

FSRAForward – Mortgage Brokering Portal Update

FSRA provided a progress update on upcoming improvements to the Mortgage Brokering Portal which is part of the FSRAForward initiative.

FSRA’s Whistle-Blower Program

FSRA provided information about its new Whistle-Blower Program and discussed the Interpretation /Approach Guidance developed to assist stakeholders to interpret the protections in the FSRA Act. The Committee provided feedback on the program.

Mortgage Brokers and Mortgage Administrators Fee Rule Update

The Committee was updated on the mortgage brokering sector Fee Rule review and the fee models being considered. FSRA sought the Committee’s feedback on the proposed fee structure.

Mortgage Suitability Assessments

FSRA discussed upcoming interpretation guidance setting minimum expectations for mortgage suitability assessments. The Committee provided preliminary feedback on the proposed guidance.

Next meeting

The next meeting of the committee will be scheduled for November 28, 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.

 

R

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

Monica Liang

Ministry of Finance

VC

FSRA members present:

Roy Dias, Nadiatou Fagbemi, Jennie Hodgson, Wendy Horrobin, Antoinette Leung, Huston Loke, and team members from FSRA’s Market Conduct team; Rocca DAngela, Fern Karsh, Abina Rogers from Policy team were present at the meeting. Martina Aswani, Tamara Brooks, Troy Harrison, Chris Zolis and Elissa Sinha from Legal and Enforcement team, Emil Taimazov and Mai Vo from Financial Planning and Analysis team, John Slowakiewicz from Digital Transformation, as well as Serina Yau from FSRA’s Public Affairs team were also present

Available in French upon request