The Financial Institutions Commission is increasing its oversight of mortgage brokers in Canada to help curb problems with predatory lending as Canadian debt loads rise and home prices fall. Despite rising interest rates, other data suggest that in Vancouver, delinquencies are not increasing as the number of borrowers who are three months or more [...]
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So far Jennifer Muir has created 7 blog entries.
The Greater Vancouver housing market continues to see 10 year lows in sales due to increased municipal and provincial regulation, as well as more stringent mortgage stress tests and rising interest rates. This downturn is contributing to the Bank of Canada prediction for negative growth for residential real estate investment in Canada in 2019. [...]
In our April 12, 2018, blog we wrote about the case of Canada v. Callidus Capital Corporation. The Supreme Court of Canada since heard an appeal of this case and gave its unanimous decision on November 11, 2018, allowing the appeal and overturning the decision of the lower court. The Federal Court of Appeal had determined [...]
Rising interest rates have resulted in a decrease in detached home prices in Greater Vancouver and in increased insolvencies across Canada. However, northern markets have not seen the same overall negative effects of rising interest rates couple with the more stringent mortgage stress test as seen in the Lower Mainland. Parts of northwest BC [...]
Financing mobile equipment comes with certain risks, particularly when the equipment being financed is aircraft. Aircraft can leave Canada and land where foreign laws may not provide protection for Canadian financiers. A recent example of this type of risk was Export Development Canada’s (EDC) $41 million financing of the purchase of a Bombardier jet [...]
The Chartered Professional Accountants (CPA) of Canada say the country is unlikely to experience the same housing market crash experienced by the U.S. a decade ago given the credit quality of today’s Canadian homebuyers. However, homebuyers who may be unable to qualify under the new mortgage stress tests are turning to private lenders, making [...]
We represent chartered banks, credit unions, commercial lenders and other creditors to minimize the time and cost of security realization, collections and insolvency. In doing so, we use a tool called L2, which puts our lawyers and the clients we serve on one shared, digital workspace – improving efficiency, transparency, security and reducing risk for [...]