The Office of the Superintendent of Financial Institutions (OSFI), Canada’s banking regulator, has issued a cautionary statement highlighting the excessive reliance of both lenders and borrowers on extending mortgage amortization periods. According to Peter Routledge, the head of OSFI, individuals with mortgages that have insufficient payments to cover the interest portion of the loan could … Continue reading “Shock” In Higher Payments: OSFI Warns of Overreliance on Extended Mortgage Amortizations