Public Consultation - Revised Guideline B-20 Residential Mortgage Insurance Underwriting Practices and Procedures

Document Properties

  • Type of Publication: Letter
  • Date: July 6, 2017
  • Reference: Guideline for Banks / T&L / CRA / Life / P&C
  • To: Federally-Regulated Financial Institutions (FRFIs)

In July 2016, the Office of the Superintendent of Financial Institutions (OSFI) issued a letter to the industry entitled Reinforcing Prudent Residential Mortgage Risk Management.  The letter also indicated that OSFI would review Guideline B-20.

Today, OSFI is issuing for comment a revised version of Guideline B-20. Comments on the proposed guideline can be e-mailed to by August 17, 2017. A non-attributed summary of comments received, along with OSFI’s responses, will be posted on OSFI’s website when the final version of the guideline is released. 

The final guideline will be issued in autumn 2017, and will come into effect shortly thereafter.  Once the changes to Guideline B-20 are finalized, OSFI intends to make consequential amendments to Guideline B-21 – Residential Mortgage Insurance Underwriting Practices and Procedures.

Yours truly,


Carolyn Rogers
Assistant Superintendent
Regulation Sector