The public can have its say about the recent federal mortgage rule changes

Policymakers will now have the opportunity to touch base with their constituents’ feelings surrounding the recent changes to federal mortgage rules, as a new consumer advocacy portal will allow the public to send its thoughts to Members of Parliament.

Launched by Mortgage Professionals Canada, the online promotion is part of the association’s campaign to educate legislators on the possible negative impacts of the revisions to mortgage insurance and eligibility rules.

“The association has been very active in lobbying the federal government to make reasonable, common-sense changes to the new rules, and is now seeking assistance from middle- class Canadians to have their say by letting the government know how they have been affected by the changes,” MPC said in its announcement.

“Mortgage Professionals Canada has presented recommendations to government regarding the new rules which will help government meet their goals while softening the negative impacts on Canadians.”

Association president and CEO Paul Taylor said that the campaign aims to address the evident consumer frustration surrounding the regulatory changes.

“Our goal with this grassroots campaign is to make it incredibly easy for Canadians who have been disadvantaged by the changes to send a message to their local MP to build support for affordable homeownership,” Taylor explained.

Currently, MPC represents 11,500 industry professionals and 1,000 companies nationwide, comprising the largest mortgage network in Canada. With around $80 billion dollars in annual economic activity, MPC’s broker channel originates approximately 33 per cent of all mortgages in Canada and nearly 50 per cent of mortgages for first-time homebuyers.

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