Coming up: NQSMI quarterly data report to FSRA
The Financial Services Regulatory Authority of Ontario (FSRA) requires mortgage brokerages to provide a quarterly data report for all non-qualified syndicated mortgage investment (NQSMI) transactions completed with Permitted Clients. FSRA outlined this requirement in its Approach Guidance for supervising NQSMIs that came into effect July 1, 2021.
All mortgage brokerages must complete and submit the quarterly data reporting form to FSRA between October 1 and 14, 2021 using the NQSMI Quarterly Report form available via Licensing Link. Only mortgage brokerages dealing and/or trading in NQSMIs with Permitted Client investors / lenders must submit an expanded version of the report. Feedback on questions included in the form can be added in the Closing Questions section or submitted to [email protected]. This feedback will be reviewed and considered for future forms design.
FSRA will use the data collected to appropriately target supervision of higher-risk brokerages and administrators. The collected data will also give FSRA a better understanding of the size of the market and support a risk-based approach to monitoring the sector and its trends.
- Licensing Link
- Supervision Approach for NQSMI Guidance
- Syndicated Mortgage Investments – Information and Resources
FSRA is continuing to work with those we regulate to ensure financial safety, fairness and choice for consumers and members. Learn more at www.fsrao.ca.