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October 22, 2017

OSFI implements “Stress Test” for All Mortgages as of Jan 1, 2018

The Office of the Superintendent of Financial Institutions (OFSI) confirmed on October 17 that all mortgage applicants would have to pass a “stress test” on their qualifying income – no matter how high their down payment as of January 1st, 2018.   Last fall a stress test was introduced to […]
June 1, 2016

The Many Names of Private Lending

In the mortgage industry, Private Lending is the lending of money on a secured asset, land and/or house by a non-conventional lender. The loan provided to the borrower is based on non-traditional qualifications; for example, bank account statements can be used to show cash flow in lieu of the traditional […]
March 12, 2016

Understanding the Sub Prime Market

A mortgage granted to a borrower with a less-than-perfect credit report or unproven income is commonly called Sub-prime or B Lending/Mortgage. Sub-prime borrowers have either missed/late payments on outstanding debt such as credit card or loans or have undeclared income. Lenders charge a higher interest rate to compensate for potential […]

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