Information

Consultation on the 2018 legislative review of the Mortgage Brokerages, Lenders and Administrators Act, 2006

Regulation Number(s):
O. Reg. 188/08
Bill or Act:
Mortgage Brokerages, Lenders and Administrators Act, 2006
Summary of Proposal:
On October 22, 2018, Mr. Doug Downey, Parliamentary Assistant to the Minister of Finance, was appointed to conduct the legislative review of the Mortgage Brokerages, Lenders and Administrators Act, 2006 (MBLAA). As part of the review, the government will consult with the public and stakeholders on finding efficiencies and reducing unnecessary regulatory burden, so that mortgage brokers can focus on helping their clients.

Mr. Downey will be engaging with the public and the mortgage brokering sector to review the legislation, and to ensure that processes are streamlined and regulatory costs are reduced wherever possible.

Your advice is important. All input is welcomed and appreciated. Providing the reasons behind your views will help provide a better understanding of your perspective. All comments received may be used in the course of the review to inform recommendations for potential revisions to the act and its regulations. This will involve disclosing some or all comments or materials, or summaries of them, to other interested parties during and after the consultation. The collection, use and disclosure of information is subject to the Freedom of Information and Protection of Privacy Act.

Please provide your written submissions no later than January 11, 2019.

You may send your comments by e-mail to mblaa.consultation@ontario.ca, or by mail to:

Gina Stephens
Senior Policy Advisor
Financial Services Policy Division
Ministry of Finance
95 Grosvenor St. - 4th Floor
Toronto, ON M7A 1Z1

Once the feedback has been reviewed, recommendations will be made by Mr. Downey to the Minister regarding any recommended changes to the act and regulations. The Minister will make the recommendations available to the public. The intention is to complete the review by Spring 2019.
Further Information:
Proposal Number:
18-MOF022
Posting Date:
November 23, 2018
Comments Due Date:
January 11, 2019
Contact Address:
Gina Stephens
Financial Services Policy Division
Frost Building North
95 Grosvenor St. - 4th Floor
Toronto, ON, M7A 1Z1