Protecting consumers shopping for a mortgage

New research will help inform how FSRA supervises mortgage brokers

FSRA recently commissioned research to better understand and protect consumers who are in the market for a first mortgage or are renewing their existing mortgage.

The findings will help inform how FSRA supervises mortgage brokers, as well as its policy decision making and regulatory efforts.

“Consumer protection is at the heart of everything we do, and this new research will help inform how we supervise mortgage brokers, as well as our policy decision making and regulatory efforts,” said Antoinette Leung, Head of Financial Institutions and Mortgage Brokerage Conduct at FSRA. “With this volatile and uncertain global economy, we need to support those seeking a first mortgage or those renewing their existing mortgage, especially vulnerable consumers.”

A Highlights Report is now available that summarizes four key takeaways from the study, including the fact that only two in five respondents with a private mortgage have an exit strategy in place to help them get back to a more traditional mortgage.

Residents across Ontario who currently have a mortgage were surveyed.

Learn more:

• 2023 Consumer Research: Mortgage Brokering Highlights Report
• 2023 Consumer Research: Mortgage Brokering Full Report
• Learn more about the Consumer Office

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

Learn more at www.fsrao.ca.