Residential Mortgage Underwriting Practices and Procedures

OSFI is issuing for comment revisions to Guideline B-20 – Residential Mortgage Underwriting Practices and Procedures. Guideline B-20 sets out OSFI’s expectations for prudent residential mortgage underwriting, and is applicable to all federally regulated financial institutions that are engaged in residential mortgage underwriting and the purchase of residential mortgage loan assets – in Canada and internationally.

OSFI is clarifying and strengthening its expectations for residential mortgage underwriting in federally regulated financial institutions through the proposed revisions to Guideline B-20. The draft changes to Guideline B-20 encourage increased prudence and underwriting practices that adapt to the dynamic housing market conditions in Canada.

Interested parties may submit comments to OSFI regarding draft Guideline B-20 by August 17, 2017 through their industry associations or directly to OSFI by e‑mail at