August 2006

August 2006

The Mortgage Brokerages and Mortgage Administrators Regulations Consultation

August, 2006 – In July of 2004, the Financial Institutions Division of the Saskatchewan Financial Services Commission  (“FID”) initiated a broad review of The Mortgage Brokers Act with a view to modernizing the regulation of the industries governed by that Act. 

Bill 49, The Mortgage Brokerages and Mortgage Administrators Act (the “New Act”), received Royal Assent on May 17, 2007. The New Act will come into force on proclamation.

Draft regulations to be enacted under the New Act have now been prepared and we are requesting your comment on the draft provisions of the regulations including the investor disclosure forms which are a component of the draft regulations but are set out separately below, under Related Documents for ease of reference.

If you cannot access these documents, please call (306) 787-6700 or email fid@gov.sk.ca to request a paper copy.

 Please submit your comments on the draft provisions by August 12, 2009 to Roger Sobotkiewicz, Manager, Legal and Policy, by email to roger.sobotkiewicz@gov.sk.ca or by mail or fax to:

 Roger Sobotkiewicz, Manager Legal and Policy

Financial Institutions Division
Saskatchewan Financial Services Commission
Suite 601, 1919 Saskatchewan Drive
Regina, Saskatchewan  S4P 4H2
Fax: (306) 787-9006 

All comments received will be subject to the provisions of The Freedom of Information and Protection of Privacy Act (Saskatchewan).

• The Mortgage Brokerages and Mortgage Administrators Regulations - Consultations Draft
• Investor Disclsoure Form - Consultation Draft
• Investor Disclosure Form (Renewals) - Consultation Draft
• Chapter M-20.1