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 the Mortgage Brokerages, Lenders and ...
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 alternative financial model for ...
The answer to this question is constantly evolving, with new and conflicting case law addressing specific facts released almost yearly. The old adage of being able to redeem your mortgage ...
TYPE OF ENTITY FOR A MORTGAGE INVESTMENT CORPORATION A Canadian Corporation throughout the taxation year where its business only undertakes to invest its funds, and thereafter qualifies as a MIC, ...
Under section 17 of the Mortgages Act, and pursuant to relevant case law the answer is “Yes” the lender can. Subject to the wording in the original mortgage commitment/agreement, you ...
Choosing a closing date The closing date can be whenever the parties agree upon, however selecting a closing date on a weekend or statutory holiday will prevent your transaction from being registered ...
Foreclosure: When and Why? It is not uncommon to combine a claim for foreclosure with a claim for the amount due under the covenants contained in the mortgage. Thus, an ...
Notice of Sale and Requisitions If a purchase is made under power of sale, it is necessary to ensure that the vendor is authorized to conduct the sale and that ...
Introduction Common issues expected to arise and confront legal counsels in mortgage enforcement practice, whether from the mortgagor’s perspective or from the lender’s perspective are under discussion here. Divided into ...
Good Wife The Ontario Superior Court of Justice decided in Citi Financial Ltd.v. Zaidi that the transfer of a residential property from a husband to his wife was void for ...