Lending & Mortgages

16 Mar

Meeting your legal needs during Covid-19

Meeting your legal needs during Covid-19 At Levy Zavet, the health and safety of our clients and staff is our top priority. During this time, we are...

11 Feb

Private Lending: Do not Rely on Someone Else’s Appraisal!

Often private lenders will receive a brief term sheet with an email introduction from a mortgage broker or agent trying to place a mortgage deal. Included...

25 Oct

Do Private Lenders need a brokerage license to lend in Ontario?

Do Private Lenders need a brokerage license to lend in Ontario? The Mortgage Brokerages, Lenders and Administrators Act, 2006 establishes that anyone acting as a mortgage lender...

30 Mar

Changes to the Mortgage Syndication Rules

As of July 1, 2018, the Financial Services Commission of Ontario (FSCO) will begin enforcing the changes to the O. Regulation 188/08 Mortgage Brokerages Standards of Practice under...

20 Sep

A MIC’s Specified Shareholder, Related Persons and Prohibited RRSP Investment Considerations

The Question being asked is a brother or sister of a shareholder of a mortgage investment corporation (MIC) a specified shareholder (To qualify as a MIC...

25 Jul

MIC Foreign Investors & Withholding Taxes on Dividends

The Quick and Simple is that Yes, withholding taxes (usually 25% of gross amount unless subject to a tax treaty with the resident country of the...

24 Jul

Islamic Financing and Riba Free Mortgages

Over the last few years, and especially since the financial crisis of 2008, the concept of Islamic financing or banking has been gaining momentum as an...

9 Jul

Challenges in Starting a MIC: Paying Dividends

One of the biggest challenges in running a MIC is when you first realize that the investors who were once your private lenders are now expecting...

7 Jul

A MIC does not simply allow you to raise money from the public!

Mortgage Investment Corporations ("MICs") are on the rise in Canada. With many of these MICs the founders and managers are confused over what regulators may or...

4 May

What happens when Home Trust now needs to borrow money to advance you a mortgage loan?

What do you do when your mortgage lender now has to pay a higher interest rate to their own lender on the money they loaned to...