OSFI Tightens Supervisory Expectations for Mortgage Underwriting
The Office of the Superintendent of Financial Institutions (OSFI) issued a letter this morning to all federally regulated financial institutions (FRFI). The letter expresses concern about the rising levels of household debt in Canada and serves to remind FRFIs of their obligations under Guidelines B-20 and B-21 to assess and underwrite mortgage loans and mortgage […]
Read MoreFederal Government Budget Release – A Letter From the Mayor
The Federal Government released its budget yesterday. I want to tell you about what it means for Vancouver. First, it’s good news for transit riders. There’s a commitment for $370M right away for Metro Vancouver. That means we can get started on important design work for major projects like the Broadway Subway. The government is […]
Read MoreBC Government Ends Practice of Shadow Flipping
The B.C. Government says it is ending the practice of shadow flipping in Vancouver’s real estate market. Speaking in Stanley Park Friday morning, Premier Christy Clark said they are not waiting for a review of shadow flipping to be done – they are moving to end the practice now. Shadow flipping is controversial. It involves brokers […]
Read MoreSeller Beware
A controversial sales tactic that involves wholesalers making unsolicited cash offers to homeowners is making some people a lot of money and making others very angry. Ads have popped up promising homeowners that they can sell their home in 24 hours with no fees. Some are offering illegal services with wholesalers acting like Realtors — […]
Read MoreInternational Women’s Day
Worldwide, women continue to contribute to social, economic, cultural and political achievement; And we have much to celebrate today. But progress towards gender parity has slowed in many places. To learn more and to take the pledge – CLICK HERE
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