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Topic & Comments
Britons turn to credit cards to make mortgage payments by | 2011-01-07 9:58:39 AM

In what could be a warning of things to come for Canadians who may struggle their mortgage payments if interest rates rise, it has been reported that more than 2 million people in Britain have used credit cards to pay their mortgage or rent, an increase of almost 50 per cent in a year, according to the housing and homelessness charity Shelter.read more

Top Ten New Year’s resolutions for financial consumers: OBSI by | 2011-01-05 7:25:40 AM

Canada’s Ombudsman for Banking Services and Investments (OBSI) released its Top Ten Resolutions for 2011, highlighting the ways in which Canadians can help avoid future problems with their financial affairs.read more

Bank of America settles Fannie and Freddie by | 2011-01-05 7:20:19 AM

Fannie Mae and Freddie Mac, the U.S. government mortgage lenders, accepted US$2.8-billion from Bank of America to settle claims of the bank providing faulty loans.read more

FSCO seeks comment on mandatory continuing education proposal for mortgage brokers by | 2010-12-29 5:20:30 AM

The Financial Services Commission of Ontario (FSCO) has released a proposal that would see continuing education (CE) become mandatory for mortgage brokers. The proposal is out for public comment until February 28. In spring 2011, FSCO plans to release its decision on its website.read more

Flaherty responds to banks' comments by | 2010-12-26 4:35:15 AM

While he still hasn’t ruled out tightening mortgage rules next year, Canadian Finance Minister Jim Flaherty thinks it is up to banks and not government to slow lending as household debt continues to rise, aided by low interest rates.read more

Banks required to do more stress tests for debt by | 2010-12-22 5:04:50 AM

Canadian banks and insurers will be required to do more testing on the risks consumer debt places on their balance sheets, said the Office of the Superintendent of Financial Institutions (OSFI) on Monday December 20.read more

New Addition to Mortgage Alliance Franchise by | 2010-12-22 3:34:49 AM

A new franchise, specializing in commercial mortgages, has been awarded to Murray Wood, Michel Durand, Mike Shamber and Brennan Wood who will now be known as Mortgage Alliance, Commercial Canada.read more

Banks won't impose own tighter mortgage rules: TD by | 2010-12-18 12:31:13 AM

Canadian banks are not likely to impose stricter mortgage qualifying rules on their own to curb the nation’s rising household debt, TD chief executive officer Ed Clark told The Globe and Mail.read more

Canadian household debt ratio tops U.S. by | 2010-12-17 6:20:30 AM

Canadian households had a higher debt-to-income ratio than their U.S. counterparts for the first time in 12 years, and the government may consider tightening mortgage rules to make it harder for households to become overextended.read more