During the spring and summer of 2009, FSCO conducted a review of the mortgage brokering industry as part of its compliance review initiative. This review focused on how the overall industry – particularly at the individual brokerage level – had prepared itself to meet the compliance requirements under the Mortgage Brokerages, Lenders and Administrators Act, 2006 (MBLAA); with specific focus on sections 40 to 48 of Ontario Regulation 188/08 – Mortgage Brokerages: Standards of Practice.
See Report (pdf file)