HomeMortgageHey OSFI!! - Butler Mortgage Inc.

Hey OSFI!! – Butler Mortgage Inc.

If You’re Going To Tighten Mortgage Lending Guidelines It’s Time To Repair Mortgage Revenue Doc Fraud NOW

Significantly @OSFICanada and @OSFIBSIF_leader while you’re consulting with the Huge Banks and getting ready to tighten Mortgage Underwriting Guidelines within the Summer season or Fall. It’s time to INSIST that the CRA offers a hyperlink to confirm incomes as a result of if OSFI’s objective is the integrity of our Banking System, then why the heck isn’t the foolproof resolution to remove a widespread severe fraud a precedence for the Financial institution Regulator. This has to occur NOW! As a result of the extra a Regulator tightens mortgage guidelines, the higher the motivation to recreation the system.

We watched @cbcmarketplace element widespread earnings doc fraud final Fall. How a lot larger will it develop as new mortgage guidelines tighten lending versus earnings? It would develop. So @OSFIBSIF_leader now’s the time and it’s EASY.

Meet with the boss @cafreeland and have her inform CRA the time is NOW to provide a Secured Hyperlink to Banks and different Lenders to substantiate that declared earnings matches CRA data.

SO SIMPLE, however it’s by no means a precedence. You can’t have tighter lending guidelines with out ensuring the flexibility to recreation these guidelines is UNTOUCHED. Do the correct factor. Finish Mortgage Doc Fraud NOW!

– Ron Butler


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