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OSFI to increase supervision on mortgage underwriting

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Justin da Rosa | 07 Jul 2016, 09:54 AM Agree 0
The Office of the Superintendent of Financial Institutions released a letter Thursday addressed to all federally regulated financial institutions about its expectations for prudent underwriting
  • | 08 Jul 2016, 06:05 AM Agree 0
    I do not think this letter will accomplish much. It appears to be a snippet of what the Aussies posted in 2014.

    On Dec 14, 2014, the Aussies posted a similar guidance. Here is the link:
    http://www.apra.gov.au/adi/Publications/Documents/141209-Letter-to-ADIs-reinforcing-sound-residential-mortgage-lending-practices.pdf
  • Donald | 10 Oct 2016, 04:15 PM Agree 0
    Has anyone actually read B-20? Who writes this stuff?

    OSFI does not have the staff to even understand mortgage underwriting in general. Trust me, I work with a person who left this organization to work in the private sector and take on a much more intellectual career.
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