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.

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B-20

OSFI Guideline B-20

OSFI's underwriting guideline that governs federally regulated lenders. B-20 introduced the mortgage stress test and the dual qualifying rate, and shapes most of the rules you experience at any A lender.

CMHC

Canada Mortgage and Housing Corporation

The federal crown corporation that insures high-ratio mortgages (less than 20% down) and runs national housing programs. CMHC sets the rules that govern insured mortgages in Canada.

FHSA

First Home Savings Account

A registered account introduced in 2023. Contributions are tax-deductible (like an RRSP), withdrawals for a qualifying first home are tax-free (like a TFSA). $8,000/yr, $40,000 lifetime cap.

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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