Draft regulation - Additional Regulated Activities

DRAFT REGULATION

ADDITIONAL REGULATED ACTIVITIES

Note: This is a draft regulation for discussion purposes. Bill 65, the Mortgage Brokerages, Lenders and Administrators Act, 2006, is not yet enacted.

Administering mortgages — prescribed activity

1. A person or entity is administering mortgages in Ontario when he, she or it engages in the following activity in Ontario, or holds themself out as doing so:

  1. Taking steps, on behalf of another person or entity, to enforce payment by a borrower under a mortgage.