https://www.mortgagebrokernews.ca/news/lowestrates-ca-stricter-qualification-requirements-could-provoke-more-fraud-356395.aspx With the Office of the Superintendent of Financial Institutions raising the qualifying rate for borrowers who have at least a 20% down payment from 4.79% to 5.25%, the new regulatory environment might become an excuse for some would-be borrowers to cheat a bit. Misrepresentations might prove especially appealing among those refinancing from new lenders, […]

https://www.canadianrealestatemagazine.ca/news/expect-rise-in-attempted-mortgage-fraud-broker-334647.aspx The confluence of exorbitant housing prices and the incoming mortgage stress test could encourage some Canadians to misrepresent their earnings on mortgage applications, warns a broker. “I do foresee instances of fraud for shelter becoming more prevalent because the market has heated up so much that housing is out of grasp for a lot […]