Steps being taken to support a thriving mortgage brokering sector in Ontario
FSRA’s innovation office releases summary report of stakeholder proposals and trends
The Financial Services Regulatory Authority of Ontario (FSRA) is taking steps to support an innovative, thriving mortgage brokering sector in Ontario.
As a result of FSRA’s Innovation Office consultations with mortgage brokering stakeholders, we are releasing Pursuing a More Innovative Ontario Mortgage Brokering Sector: Barriers and Opportunities Report.
The report focuses on four broad categories:
- modernization
- open banking
- licensing
- test and learn environments
The consultations were held from August to September 2021. We thank all stakeholders for their feedback. The Innovation Office wants to continue the dialogue in the mortgage brokering and mortgage administration sectors.
We want to hear from you! What innovations, opportunities, barriers, and trends are you seeing in the mortgage brokering or mortgage administration business that could benefit consumers or improve business efficiency for industry players? Contact [email protected] to share your ideas or if you or your firm has interest in participating in a FSRA Test and Learn Environment.
Learn more:
FSRA launched its Innovation Office in 2020 to collaborate with entrepreneurs and businesses and help ensure consumers have access to the latest advancements in financial services while protecting the public interest.
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.