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Mortgage Squad Advisors
Regulation

FSRA

Financial Services Regulatory Authority

Ontario's mortgage broker regulator. Replaced FSCO in 2019. All Ontario brokerages, agents, and brokers operate under FSRA licensing. Mortgage Squad Advisors is FSRA-licensed #13737.

FSRA licenses and supervises every mortgage brokerage, broker, and agent in Ontario under the Mortgage Brokerages, Lenders and Administrators Act (MBLAA). It sets education requirements, enforces disclosure rules, and investigates complaints — the consumer-protection backbone of the industry.

You can verify any Ontario brokerage or agent on FSRA's public registry by name or licence number. A legitimate broker will always display their licence (ours is brokerage #13737); if you can't find someone on the registry, that's a red flag.

FSRA is provincial, and other provinces have their own regulators (e.g. BCFSA in British Columbia). Each province licenses its own mortgage professionals; Mortgage Squad Advisors is licensed in Ontario only.

Sources

  1. Mortgage Brokerages, Lenders and Administrators Act, 2006 (Government of Ontario (e-Laws))
  2. Mortgage brokering (FSRA)
  3. Licensed mortgage brokerages, administrators, agents and brokers (FSRA)
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B-20Mortgage broker

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B-20

OSFI Guideline B-20

OSFI's Residential Mortgage Underwriting Practices and Procedures guideline for federally regulated lenders (banks and federally regulated trust and loan companies). Its 2018 revision added the minimum qualifying rate (stress test) for uninsured mortgages, and it caps non-amortizing HELOC credit at 65% of the property value.

CMHC

Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation, the federal Crown corporation that provides mortgage default insurance (required when you put less than 20% down with a federally regulated lender) and runs national housing programs. The core eligibility rules for government-backed insured mortgages are set federally; CMHC publishes its own underwriting criteria on top.

FHSA

First Home Savings Account

The First Home Savings Account, a registered account available since April 2023 to first-time home buyers. Contributions are tax-deductible (like an RRSP) and a qualifying withdrawal to buy a first home is tax-free (like a TFSA). Participation room is $8,000 a year, with a $40,000 lifetime limit.

RRSP Home Buyers' Plan

RRSP HBP

A federal program letting first-time buyers withdraw up to $60,000 from their RRSP toward a down payment without paying tax — provided the funds are repaid to the RRSP over 15 years.

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