Recent tweaks to housing rules are cutting into mortgage brokers business. They are asking lawmakers to relax existing rules and put the brakes on new rules:
While Ottawa considers what to include in the budget, the mortgage group is urging the government to avoid taking any drastic and unnecessary action because of isolated pockets of danger.
The new rules “disproportionately affect competitive positions of small and mid-sized lenders,” Kerzner said. “There’s a real and growing sentiment that activity in Toronto and Vancouver is negatively impacting those in the rest of the country.”
Read the full article over at the CBC.