OSFI changes lead to questions on pre-approvals

Canada's banking regulator has some potentially momentous new mortgage restrictions coming in 2023.

If the final lender guidance turns out to be as impactful as expected, many highly levered uninsured mortgage borrowers will apply before changes take effect. The goal being, to ensure OSFI's new debt service limits don't kibosh their approval.

The question is, will the regulator and lenders allow this?

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