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Legal Alert

Ministry of Finance
On January 23, 2014, the Ontario Ministry of Finance released a report titled “Strengthening Ontario’s Mortgage Industry: Five-year Review Recommends New Measures to Protect Consumers”. Among the initiatives addressed by the report was the review of the Mortgage Brokerages, Lenders and Administrators Act, and the resulting recommendations designed to enhance consumer faith in both the standards of practice that govern mortgage brokerages and in the ongoing initiatives designed to prevent fraud. A full copy of the report is found on the Ontario Ministry of Finance website at www.fin.gov.on.ca.