OSFI Is At It AgainBy Scott WestlakeJanuary 17, 20230 comments#OFSI #mortgagerules #newmortgagerules Late last week, the Office of the Superintendent for Financial Institutions (OSFI) announced it was concerned about the risks associated with the large and rising number of highly ...Read more...
Self Employed Mortgage QualificationsBy Scott WestlakeJanuary 21, 20190 comments#selfemployedmortgagequalification #selfemployedlending #selfemployedmortgagerules #oakvillemortgage #torontolending #mortgagecanada #thewestlaketeam #twt #scottwestlake #mortgageadvise #realestate I personally believe that the way we know self employment mortgages from the past has disappeared. Stating income and using what we believe to be an accurate indication of debt serviceability for a mortgage qualification is no longer an option in my opinion at the bank level. We ...Read more...