CAPL has met with consultants working for FINTRAC to assist with the roll out of AML requirements for the mortgage services sector, which includes mortgage lenders.

In order to understand private mortgage lenders better, the consultants have asked that this survey be completed.

Please know that we have explained that private mortgage lenders are not regulated by OSFI and do not underwrite loans as OSFI regulated entities do. In addition, we have also explained that mortgage borrowers are not the clients of mortgage lenders, and that some mortgage lenders/investors are clients who should not be required to comply with AML rules.

Read CAPL’s letter on AML requirements for mortgage lenders here – Final AML letter

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