Illustration of Book with Mortgage Charter written on it with Canadian Mortgage Professionals Logo on book cover

A Need-to-Know Summary! The New Canadian Mortgage Charter: How Calgary Homeowners Can Take Advantage!

In the recent Fall Economic Statement (FES), the Liberal government introduced the Canadian Mortgage Charter (CMC) as a measure to assist homeowners facing financial challenges amid rising interest rates. This initiative aims to provide clear guidelines for financial institutions on how to support vulnerable borrowers. In this blog post, we’ll break down what the Canadian…

OSFI Responds to Industry Feedback

Good news from Canada’s Banking Regulator! After nine months of discussions with industry stakeholders, the Office of the Superintendent of Financial Institutions (OSFI) has decided not to move forward with certain proposed mortgage regulations. OSFI has confirmed that they won’t pursue two of their proposed regulations: debt-to-income (DTI) restrictions and debt service loan coverage restrictions.…