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OSFI relents on stress tests for uninsured mortgages when lender switched at renewal

Bank regulator will no longer require banks to stress test borrowers to meet minimum qualifying rate when switching lenders at renewal


  • Sep 26 2024
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OSFI relents on stress tests for uninsured mortgages when lender switched at renewal
OSFI relents on stress tests for uninsured mortgages when lender switched at renewal
After rejecting a call by Canada’s Competition Bureau to treat mortgage stress testing equally at renewal, regardless of whether a borrower stays with the same financial institution or switches to a new one, the country’s top banking regulator has had a change of heart. Read More

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