OSFI

Lenders reducing average amortization lengths

Latest in mortgage news: OSFI head applauds lenders’ efforts to shorten amortization lengths

April 1, 2024 No Comments

OSFI says it is encouraged by the progress Canadian lenders have made in reducing amortization lengths of the mortgages within their portfolios.

OSFI issues notice about mortgage market risk

OSFI urges lenders to be vigilant amid “heightened risk” in the mortgage market

March 13, 2024 No Comments

In response to increased risks in the mortgage market, Canada’s banking regulator has issued a reminder to lenders about their risk management responsibilities.

Latest in Mortgage News: OSFI leaves stress test rate unchanged

December 13, 2023 No Comments

Canada’s banking regulator confirmed today it will leave the mortgage stress test for uninsured mortgages unchanged.

“We don’t see vulnerabilities worsening,” OSFI says as it leaves capital buffer for big banks unchanged

December 8, 2023 No Comments

Canada’s banking regulator today announced no change to the amount of capital banks must keep on hand to cover potential future losses.

Several big banks to be impacted by OSFI’s new capital requirements for negative amortization mortgages

November 16, 2023 No Comments

Canada’s banking regulator recently confirmed it will move ahead with new capital requirements for lenders and insurers with negatively amortizing mortgage portfolios.

OSFI calls fixed-payment variable rate mortgages dangerous

Fixed-payment variable rate mortgages a “dangerous product,” says OSFI

November 2, 2023 1 Comment

Canada’s banking regulator said Thursday it views fixed-payment variable-rate mortgages as a “dangerous product” that puts certain borrowers at increased risk of default.

Surprise at news about insured mortgage switches

OSFI report reveals largely unknown mortgage exemption: no stress test on insured switches

October 20, 2023 No Comments

Many in the mortgage industry reacted with surprise after learning about a little but very important nugget buried in an OSFI report released earlier this week.

OSFI shelves some of its regulatory proposals in response to stakeholder feedback

October 16, 2023 No Comments

Canada’s banking regulator confirmed today that it will no longer pursue at least several of the proposed mortgage regulations it had introduced earlier this year after they were met with widespread concern and criticism during its public consultation period.

OSFI seeing a deterioration in credit quality, says borrowers to face challenges at renewal

October 12, 2023 No Comments

Canada’s banking regulators says the sustained increases in interest rates over the past 18 months have challenged some borrowers’ ability to pay and led to a deterioration in certain credit quality.

OSFI seeks to address “problem” of fixed-payment variable-rate mortgages

September 7, 2023 1 Comment

It’s no secret that Canada’s banking regulator has its sights set on fixed-payment variable-rate mortgage products. And OSFI chief Peter Routledge reiterated that point during a speech today.