If federally regulated mortgages were a club, OSFI would be the bouncer, and it's decided to be a bit more selective about who it lets in. The bank regulator's upcoming loan-to-income (LTI) limit will result in incrementally fewer borrowers being approved by prime lenders. That's the bad news—if you're a prime lender or affected borrower.
The good news is that—apart from there being workarounds (more on that)—the calculation of LTI isn't as bad as some feared. Here's why, and note, we got these clarifications straight from OSFI:
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