Mortgage Brokerages, Lenders and Administrators Act

The Mortgage Brokerages, Lenders and Administrators Act, 2006 (the Act) came into force on July 1, 2008, replacing Ontario's "Mortgage Brokers Act, 1990", and requires all individuals and businesses who conduct mortgage brokering activities in Ontario to be licensed. The Act is currently administered by the Financial Services Regulatory Authority of Ontario.
Notable changes with the new legislation include: