Mortgage brokerages no longer need to file NQSMI quarterly data report

To make it easier and more efficient to report data, mortgage brokerages will only be required to provide NQSMI data once a year.

This new requirement will be in effect starting with the 2022 reporting period commencing on January 1, 2022. In their 2022 AIR filing, licensed mortgage brokerages will be required to provide information related to their NQSMI brokering activities under FSRA’s jurisdiction for the entire 2022 calendar year.

The FSRA Supervision Approach Guidance for NQSMIs that became effective in July 1, 2021 was updated on June 27, 2022 to reflect this change.

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FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone.

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