OSFI Takes Focused Action to Reduce Systemic Banking System Risk

General 3 Aug

OTTAWA ─ June 28, 2022 ─ Office of the Superintendent of Financial Institutions The Office of the Superintendent of Financial Institutions (OSFI) released a new Advisory (Clarification on the Treatment of Innovative Real Estate Secured Lending Products under Guideline B-20). The Advisory complements existing expectations under Guideline B-20, which articulates OSFI’s expectations regarding underwriting practices and procedures […]

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The Angela Calla Mortgage Team – Letter of Engagement

General 27 Jul

Dear Client, Thank you for choosing DLC – Angela Calla to prepare your application for mortgage financing. We are proud to offer a high level of service and it will be our pleasure to lead you through the process. DLC -Angela Calla maintains the highest level of integrity and we are always working in the […]

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The Canadian Mortgage Market is at the Precipice of an Evolutionary Shift

General 27 Jul

The Canadian mortgage market is at the precipice of an evolutionary shift as it ventures into a post-pandemic environment.   With the 2023 Residential Mortgage Industry Report from the Canada Mortgage and Housing Corporation (CMHC) now available, CMHC 2023 Residential Report a roadmap has been provided for the mortgage industry moving forward, outlining crucial insights […]

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Using a Reverse Mortgage To Purchase a Revenue Property

General 25 Jul

We are seeing an increasing number of clients turn to revenue properties to supplement their monthly income in retirement. But how does that work given that reverse mortgages primarily lends on the primary residence?   Client Details: 70 year old male & 70 year old female $2.4M primary residence in North Vancouver Purchasing 1 bedroom […]

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Free Family Fun – Summer 2023

General 24 Jul

This summer, Port Coquitlam is transforming two parks into a giant outdoor movie theatre! It’s a fun time for the kiddos and it’s all for FREE!   🎬 Jumanji: The Next Level 📅 Sat, July 29 at 9:15pm at Evergreen Park   🎬 Super Mario Bros. Movie 📅 Sun, Aug. 20: 8:45pm at Gates Park […]

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Multigenerational Home Renovation Tax Credit

General 19 Jul

For the 2023 and subsequent taxation years, Budget 2022 introduced the Multigenerational Home Renovation Tax Credit (MHRTC), a refundable credit to assist with the cost of renovating an eligible dwelling to establish a secondary unit that enables a qualifying individual (a senior or an adult who is eligible for the disability tax credit) to live […]

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CPI Inflation Falls To 2.8%–Inside the BoC’s Target Range

General 19 Jul

Canadian Inflation Falls Within Bank of Canada’s Target Range; Food and Shelter Costs Remain High June inflation data released today by Statistics Canada showed that the Consumer Price Index (CPI) rose 2.8% year-over-year (y/y), slightly below expectations. This was the lowest CPI reading since February 2022. The decline in inflation was mainly due to lower energy prices, […]

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