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Mortgage Rules: Foreign Buyers Set to See Changes

(September 29, 2016)

On Monday, The Globe and Mail shared with Canadians that Scotiabank and the BMO planned to adjust their underwriting requirements for foreign buyers applying for mortgage loans. In light of the information rolling out of Toronto and Vancouver about the number of foreign buyers with little accountability for where the money was coming from, two of the five major financial institutions have taken it... read more.