Disclosure Regulations (N.S. Reg. 132/2020) (just regulations regs mortforms.htm)
N.S. Reg. 132/2020
Nova Scotia — Regulations
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Forms Regulations
made under
Section 90 of the
Mortgage Regulation Act
S.N.S. 2012, c. 11
N.S. Reg. 132/2020 (effective November 1, 2021)
amended to N.S. Reg. 169/2025 (effective September 1, 2025)
Table of Contents
Please note: this table of contents is provided for convenience of reference and does not form part of the regulations.
Click here to go to the text of the regulations .
Citation
Prescribed forms
Form 1—Mortgage Brokerage Disclosure
Form 2—Mortgage Brokerage Recommendation and Assessment
Form 3—Mortgage Disclosure Statement
Form 4—Investor Disclosure Statement
Form 5—Investor Renewal Disclosure
Form 6A—Annual Information Return: Mortgage Brokerages
Form 6B—Annual Information Return: Mortgage Lenders
Form 6C—Annual Information Return: Mortgage Administrators
Form 7—Statutory Declaration: Mortgage Administrator Not Handling Trust Property
Citation
1 These regulations may be cited as the Forms Regulations .
Prescribed forms
2 The forms set out in these regulations are prescribed for the purposes of the
administration of the Mortgage Regulation Act and its regulations.
________________________________________________________________
Form 1—Mortgage Brokerage Disclosure
Mortgage Regulation Act , General Disclosure Regulations
Name of Mortgage Brokerage: Licence Number:
Mortgage Brokerage Disclosure to (name(
s) of borrower(s))
In this Mortgage Brokerage Disclosure,
• “You” and “Your” mean (borrower’s(s’) name(
s) and contact information) , the Borrower(s)
• “We”, “Us” and “Our” mean (name of mortgage brokerage) , the Mortgage Brokerage
This Mortgage Brokerage Disclosure to You must be signed by You and by Us.
Mortgage Brokerage’s Role
Our role and obligations to You and the Mortgage Lender will vary depending on the nature of
the service relationship among You, Us and the Mortgage Lender. This Mortgage Brokerage
Disclosure describes Our obligations to You. You are encouraged to discuss this document
with Us and ask any questions that You have.
We will endeavour to obtain the best mortgage for You depending on Your qualifying income,
credit history, and other financial circumstances and goals that might affect Your choice of
mortgage product.
We act as a single point of contact and will identify Mortgage Lenders and gather potential
mortgage offerings for You. We will assess and compare the proposed mortgages and
determine which mortgage We consider most suitable for You. Once You have selected a
Mortgage Lender, We may also gather the required information and documents and make sure
all the paperwork is complete and submitted.
We provide the following services:
(list services)
Our representative, (name and title of representative) , is licensed under the Mortgage Regulation Act to
broker mortgages only for Us, (name of Mortgage Brokerage) .
We act as an intermediary between You and Mortgage Lenders. In this service relationship, We
are authorized to offer the mortgage products of multiple Mortgage Lenders to eligible
borrowers. We must disclose Our relationship with any of those Mortgage Lenders to You.
Our duty to You is to act in your best interests and to disclose all relevant information to You
and the Mortgage Lenders.
We must provide You with written information on Our assessment of the mortgage loan that is
most suitable for You.
Disclosure of Our Mortgage Brokerage Relationship to Mortgage Lenders
• We are an affiliate or a subsidiary of a Mortgage Lender or are directly owned in whole or
part by a Mortgage Lender
❍ Yes ❍ No (if yes, give details)
• We or one or more of Our representatives have a direct or indirect interest in the available
mortgage transaction(s), in addition to the compensation disclosed below
❍ Yes ❍ No (if yes, give details)
• Over the last year, more than 20% of mortgages brokered by Us were funded by the
following lender(s):
❍ Yes ❍ No (if yes, complete information below)
Lender name:
Percentage and Reason:
(Add additional lines if more than 1 lender funded over 20%.)
Compensation
All payments for Our services must be made payable to Us, (name of Mortgage Brokerage) . Our
representatives are not permitted to accept any payment in their names directly from You.
We may be compensated for Your mortgage application or transaction in the following way(s):
• Fee charged to You directly; and/or
• Compensation paid by the Mortgage Lender.
We will provide a description of any compensation when We provide to You Our assessment of
the mortgage loan that We consider most suitable for You in the required Form 2—Mortgage
Brokerage Recommendation and Assessment.
If You have any questions about Us, You may contact Our Principal Broker, (name and contact
information for principal broker) .
Acknowledgements and signatures
I/We, the Borrower(s), acknowledge receipt of a copy of this Mortgage Brokerage Disclosure.
I/We, the Borrower(s), acknowledge that I/We have reviewed the content of this brokerage
disclosure document.
Date
Signature of Borrower
(name of Borrower—please print)
Date
Signature of Borrower
(name of Borrower—please print)
I, the authorized representative of the Mortgage Brokerage, confirm that this Mortgage
Brokerage Disclosure was delivered to the Borrower(
s) by (specify delivery method)
(Mortgage Brokerage name)
Date
Signature of authorized representative
(authorized representative name and title)
This Mortgage Brokerage Disclosure must be signed in duplicate and a signed
copy retained by each of the Borrower(
s) and the Mortgage Brokerage.
________________________________________________________________
Form 2—Mortgage Brokerage Recommendation and Assessment
Mortgage Regulation Act , General Disclosure Regulations
Name of Mortgage Brokerage: Licence Number:
Recommendation and Assessment
In this Recommendation and Assessment,
• “You” and “Your” mean (Borrower’s(s’) name(
s) and contact information) , the Borrower(s)
• “We”, “Us” and “Our” mean (name of mortgage brokerage) , the Mortgage Brokerage
This Recommendation and Assessment must be signed by You and by Us.
Notice to the Borrower(s):
We must act in Your best interests.
We must assess Your requirements before giving You this Recommendation and Assessment,
in order to determine which mortgage is the most suitable for You.
We must provide this Recommendation and Assessment to You at least 1 business day before
You either:
• sign a document committing You to enter into the mortgage; OR
• make any payment in connection with the mortgage, including any application fees, such as
a Mortgage Lender’s application fee.
The information in this Recommendation and Assessment reflects available mortgages and Our
assessment of the mortgage loan that We consider most suitable for You.
This document also provides additional information regarding the Mortgage Lender, and
describes any interest We have in the mortgage transaction, including the nature of any benefits,
advantage or payments that We will receive.
Details about Mortgage Lenders
We have submitted Your mortgage application to the following Mortgage Lender(s): (list)
We have determined the following mortgage offer, summarized below, to be the most suitable
mortgage for you.
Mortgage Characteristics
Offer
Lender
Principal amount
Interest rate
Fixed (
F) or variable (
V) interest rate
Annual percentage rate
Determination of rate, if variable
Term
Date of advance
Payments (total amount and schedule)
Principal and interest payment
Tax payment
Amortization period
Prepayment privilege
Prepayment charges
Default insurance
Other fees
Summary of Term Start Date, Maturity Date and Cost of Borrowing
Term
Term start date
Maturity date
Total principal and interest payments over term
Total cost of borrowing over term
Material Risks
(Describe material risks of recommended mortgage.)
Assessment Criteria
The primary reason(
s) that we determined this mortgage to be the most suitable mortgage
available to You are (check all that apply):
Fixed rate mortgage provides stability and payment certainty
Variable rate mortgage takes advantage of lower short-term interest rates and is appropriate
given Your risk tolerance for rate fluctuations
Flexibility of a mortgage that combines a mortgage and a line of credit
Term of the mortgage matches Your ownership duration/stability objectives
Prepayment options meet Your needs
You have an existing relationship with the lender
Amortization period fits your repayment objectives
Mortgage offers other benefits, such as loyalty points or cash back
(specify other criteria, if applicable)
Explanation for Our recommendation: (Clearly explain the rationale for selecting the recommended lender and
mortgage product type. The explanation must be based on the borrower’s personal and financial circumstances, and take
into account factors such as lender practices, product availability, turnaround time, service levels, complexity, exceptions,
and existing relationships.)
Recommendation is not advice
Our recommendation is not advice to You about whether You can afford the mortgage
payments. You must always consider the cost of the mortgage as a part of your total
budget and that mortgage costs will fluctuate over the life of the mortgage with changing
interest rates.
Refusals
We received the following refusals from Mortgage Lenders (expand table if necessary):
Mortgage Lender
Reason for Refusal
Compensation
All payments for Our services must be made payable to Us, (name of Mortgage Brokerage) . Our
representatives are not permitted to accept any payment in their names directly from You.
We may/will (select one) be compensated for Your mortgage application or transaction in the
following way(s):
Fee charged to You directly
❍ Yes❍ No
If yes: in the amount of $ ___________, or not to exceed $___________ payable upon
_______________________.
You must initial here to acknowledge the brokerage fee _______________
Compensation paid by the Mortgage Lender:
• Commission, fee or other compensation, including bonuses, paid by the Mortgage
Lender
❍ Yes ❍ No ❍ Unsure (if unsure, give reason)
• Cash-back offer in which the Mortgage Lender pays a percentage of the mortgage
amount to Us
❍ Yes ❍ No ❍ Unsure (if unsure, give reason)
• Non-monetary benefits such as travel rewards and merchandise
❍ Yes ❍ No ❍ Unsure (if unsure, give reason)
Interest in recommended mortgage
The mortgage brokerage or Our representatives have a direct or indirect interest in the mortgage
transaction:
❍ Yes❍ No
(Please note: an interest includes any benefit or advantage received directly or indirectly
if the mortgage transaction proceeds. This includes any remuneration or rewards that
We will receive if the mortgage transaction proceeds, but does not include fees to be
collected directly from You and separately disclosed.)
(If no direct or indirect interest, omit the following 2 paragraphs.)
The nature of that interest is:
(Describe both who has an interest and the nature of each interest. If the interest is in the form of remuneration, provide all
of the following details:
• identification of person(
s) providing the remuneration
• if in the form of money, the basis for calculating the remuneration
• if in a form other than money, a description of the nature of the remuneration)
If You have any questions about Us, You may contact Our Principal Broker, (name and contact
information for principal broker) .
Acknowledgements and signatures
I, (name of authorized representative) , authorized representative of the Mortgage Brokerage, confirm
that this Recommendation and Assessment was delivered to the Borrower(
s) by (specify delivery
method) .
(Mortgage Brokerage name)
Date
Signature of authorized representative
(authorized representative name and title)
I/We, the Borrower(s), acknowledge receipt of a copy of this Recommendation and
Assessment.
I/We, the Borrower(s), acknowledge that I/We have reviewed the content of this
Recommendation and Assessment.
Date
Signature of Borrower
(name of Borrower—please print)
Date
Signature of Borrower
(name of Borrower—please print)
This Recommendation and Assessment must be signed in duplicate and a signed
copy retained by each of the Borrower(
s) and the Mortgage Brokerage.
________________________________________________________________
Form 3—Mortgage Disclosure Statement
(Mortgage Regulation Act, Cost of Borrowing Disclosure Regulations)
Name of Mortgage Lender: Licence Number:
Date:
(date on which disclosure statement is made)
Name and address of mortgage lender (“Mortgagee”):
Name(
s) and address(es) of mortgage borrower(s) (“Mortgagor(s)”):
Address of mortgaged property:
Summary
Principal Amount
(Indicate the principal amount of the loan.)
Annual interest rate (fixed)
(Indicate the applicable annual interest rate and provide a
brief description of how the interest is compounded, if
applicable, and charged.)
Annual interest rate (variable)
(Indicate the annual interest rate that applies on the date of
the disclosure statement and provide a brief description of
how the interest is compounded, if applicable, and charged.)
Determination of interest (variable)
(Provide a brief description of the method of determining the
annual interest rate and the date that the determination is
made.)
Annual percentage rate
(Indicate the APR, if it differs from the annual interest rate,
and provide a brief description of how it is determined.)
Term
(Indicate the number of months or years of the term of the
loan and whether the term is open or closed, and provide a
brief description of what “open” or “closed”, as applicable,
means.)
Date of advance
(Indicate the date on which the principal amount of the loan is
to be advanced and the date on which interest is to begin to be
charged.)
Payments
(Indicate the amount of each payment and the date on which
each payment is due and provide a brief description of the
components of a payment and the frequency of the payments.)
Amortization period
(Indicate the number of months or years of the amortization
period, if that period is different from the term of the loan.)
Prepayment privilege
(Provide a brief description of the conditions under which a
borrower may repay a greater portion of the loan than
required in any given period without incurring penalty
charges for the prepayment of the loan, if applicable.)
Prepayment charges
(Indicate the amount of the penalty charges, if any, for
prepayment of the loan or provide a brief explanation of the
manner in which the penalty charges are calculated.)
Default insurance
(Indicate the amount of charges for insurance against default
on a high-ratio mortgage or hypothec, if any.)
Other fees
(Provide a list of the types and amounts of any other charges,
other than interest charges.)
Mortgage Payment Information
Term
Interest rate
Maturity date
Estimated balance at maturity
Principal and interest payment
Total mortgage payment
Payment frequency
Payment date
First payment date
Interest date (the date on and after which
interest is charged)
Interest adjustment date
(A one-time payment for interest accrued between the date of
advance and the date from which interest begins to be
calculated for the first full payment.)
Interest adjustment payment date
Total interest payment
(The total of all interest payments for the full term of the
mortgage based on the annual interest rate assuming all
payments are made on time and the mortgage remains in good
standing.)
I/We, the Mortgagor(
s) under this proposed mortgage, have read and fully understand the above
statement furnished to me/us by the Mortgagee.
I/We have not yet signed any mortgage paper or blank documents on this mortgage.
I/We are signing this statement, which has been fully completed, in duplicate, and I/We hereby
acknowledge receipt of a copy signed by the Mortgagee.
Date signed:
(Sign both copies separately, with original signatures.)
Witness
(print name of witness)
(Signature(
s) of Mortgagor(s))
I, the authorized representative of the Mortgagee, have fully completed the above statement in
duplicate and have furnished one signed copy to the Mortgagor(s).
(name of Mortgagee)
Witness
(print name of witness)
(signature of authorized representative)
(name and title of authorized
representative)
________________________________________________________________
Form 4—Investor Disclosure Statement
Mortgage Regulation Act , General Disclosure Regulations
Disclosure Duties by Mortgage Brokerage/Mortgage Lender
In this Investor Disclosure Statement, mortgage brokerages or mortgage lenders are required to
provide you with the completed Investor Disclosure Statement that contains important information
in connection with this transaction.
A mortgage broker or mortgage lender must:
Advise you if the brokerage/lender cannot verify the identity of another party to the
transaction.
Disclose its relationship with each party to the transaction.
Disclose whether the brokerage/lender is receiving a fee or other remuneration for referring
you to a person, and disclose the relationship to that person.
Disclose material risks to the transaction that you should consider.
Disclose actual or potential conflicts of interest that may arise from this transaction.
Take reasonable steps to ensure that any mortgage investment the brokerage/lender
presents to you is suitable having regard to your needs and circumstances.
You must receive these disclosures in writing and acknowledge receipt of them. You should
keep a copy for your records.
Important: This form is required by law and will provide the prospective investor with
important information to assist you in making a decision about whether to invest.
This information must be disclosed at least 2 business days before the earliest of the following
events:
- When the brokerage/lender receives or enters into an agreement to receive money from
you
- When you enter into a mortgage agreement or an agreement to invest in a mortgage
- The money is advanced to the borrower under the mortgage
- The investment completion date.
You may agree to reduce the 2 business day waiting period to 1 business day by consenting in
writing.
Section 1 - Important Information About Risks of Mortgage Investment
1. All mortgage investments carry a risk. There is a relationship between risk and return. In
general, the higher the rate of return, the higher the risk of the investment. You should
very carefully assess the risk of the mortgage transaction described in the Investor
Disclosure Statement and the supporting documentation before making a commitment.
2. Syndicated mortgages (defined as more than one investor/lender) may carry additional
risks pertaining not only to the risk of default but also to the risks associated with
participating in a syndication and the financing of real estate transactions.
3. Inexperienced investors are not advised to enter into mortgage investments.
4. You should consider inspecting the property or project and the surrounding area before
investing.
5. The mortgage investment is not guaranteed by the government or any investor protection
fund.
6. You are strongly advised to obtain independent legal advice before committing to invest.
7. This mortgage investment cannot be guaranteed by a mortgage brokerage/lender. If you
are not prepared to risk a loss, you should not consider mortgage investments.
8. If this investment is for a mortgage to fund a development, construction or commercial
project, the repayment of this investment may depend on the successful completion of the
project, and its successful leasing or sale.
9. If you are one of several investors in a syndicated mortgage, you may not be able to
enforce repayment of your investment on your own if the borrower defaults.
10. You should ensure you have sufficient documentation to support the property valuation
quoted in this Investor Disclosure Statement. The property value may decrease over time,
including the period between the date of the most recent appraisal and the date you commit
to invest. A decline in property value may also affect the return and/or value on your
investment in the event of a default in payments under this mortgage.
11. Repayment of the mortgage is dependent on the borrower’s ability to make payments
under the mortgage and on the financial strength of any person offering a personal
covenant, guarantee or financial commitment. There is no assurance that the obligations
will be satisfied and therefore you may not receive any return from your investment,
including any initial amount invested. You should satisfy youself [yourself] as to the
borrower’s ability to meet the payments required under the terms of this mortgage
investment.
12. The insurance coverage on the property secured by the mortgage may be inadequate,
cancelled or expire and expose you to potential loss of this mortgage investment.
13. The mortgage administrator, if applicable, cannot make payments to you except from
payments of principal and interest made by the borrower under the mortgage. Therefore,
the mortgage administrator cannot continue mortgage payments to you if the borrower
defaults.
14. If you want to withdraw your money before the end of the term, a new investor may be
required and there is no assurance that there will be a market for the resale or transfer of
the mortgage.
15. If the mortgage provides for an extension, you may not be able to opt out of any extension
of a mortgage term. You need to review terms relating to the extension of mortgages
carefully.
16. This Investor Disclosure Statement and the attached documents are not intended to provide
a comprehensive list of factors to consider in making a decision concerning this
investment. By law, the mortgage brokerage/lender must disclose in writing the material
risks of the mortgage investment. There may be additional risks to the investment. You
should satisfy yourself regarding all factors relevant to this investment before you commit
to invest.
17. This Investor Disclosure Statement has not been filed with any government. No authority
of any government has reviewed or approved the completed Investor Disclosure Statement.
Printed name of Mortgage Broker or Lender
Representative
Licence Number of Mortgage Broker
Signature of Mortgage Broker or Lender
Representative
Date
Name of Mortgage Brokerage/Mortgage Lender
Licence Number of Mortgage
Brokerage/Lender
Acknowledgement
I, ________________________________________________________, (printed name of Investor)
acknowledge receipt of this Risk Disclosure Statement by the mortgage brokerage/mortgage
lender signed by ____________________________________ (printed name of Mortgage Broker/Lender
Representative) .
Signature of Investor
Date
Section 2 – Declaration by the Mortgage Brokerage/Mortgage Lender
1. This
section requires the mortgage brokerage/lender to disclose the nature of the
relationship between the brokerage/lender and other persons involved in the mortgage
transaction. For the purposes of this Investor Disclosure Statement, two persons are related
if they share any relationship other than an arm’s length business relationship. For
example, a shareholder, director, officer, partner or employee of a brokerage/lender is
related to the brokerage/lender and to any mortgage broker or associate mortgage broker
authorized to act on behalf of the brokerage/any representative of the lender.
This declaration is made by
Name, address and licence number of brokerage/lender
2. Does the mortgage brokerage/mortgage lender or any of its brokers or associate
brokers/representatives have or expect to have a direct or indirect interest in this property,
identified in
Section 3, Part A?
❍ No
❍ Yes, explain:
3. Does any person related to the mortgage brokerage/mortgage lender or any of its brokers or
associate brokers/representatives have or expect to have a direct or indirect interest in this
property?
❍ No
❍ Yes, explain:
4. Is the borrower related to the mortgage brokerage/mortgage lender or to any of the officers,
directors, partners, employees or shareholders of the mortgage brokerage/mortgage lender
or any of its brokers or associate brokers/representatives?
❍ No
❍ Yes, explain:
5. Is the individual or company that appraised the property related to the mortgage
brokerage/mortgage lender or any of its brokers or associate brokers/representatives?
❍ No
❍ Yes, explain:
6. Describe any conflicts or potential conflicts of interest in connection with this mortgage
investment, other than those described above.
7. Describe what steps the mortgage brokerage/mortgage lender has taken to reduce the risk
resulting from any conflicts or potential conflicts of interest.
8. (To be completed by brokerages only.) The mortgage brokerage is acting for:
❍ The investor and not the borrower
❍ The borrower and not the investor
❍ Both the borrower and the investor
(Note: if investor is a private investor, a brokerage may not act for both the borrower and
the private investor)
9. If this investment is a purchase of an existing mortgage or a portion of an existing
mortgage, is the mortgage now in default?
❍ No ❍ Yes
Has it been in default in the last 12 months?
❍ No ❍ Yes
If Yes to either, explain:
10. Will the mortgage proceeds be used to refinance, pay out, redeem or reduce an existing
mortgage on this property?
❍ No
❍ Yes, explain:
11. Does the mortgage brokerage/mortgage lender or any of its brokers or associate
brokers/representatives expect to gain an interest or benefit from this transaction other than
the fees disclosed in
Section 3, Part D of this Investor Disclosure Statement?
❍ No
❍ Yes, explain:
12. Describe all material risks of this investment:
The mortgage brokerage/mortgage lender has fully complied with all requirements of the
Mortgage Regulation Act and its regulations.
I have fully completed the above Declaration of Brokerage Relationships and Potential
Conflicts of Interest in accordance with the Mortgage Regulation Act and its regulations and
declare it to be accurate in every aspect to the best of my knowledge.
Signature of Mortgage Broker/Lender
Representative
Date
Printed name of Mortgage Broker/Lender
Representative
Licence Number of Mortgage Broker
Acknowledgement
I, ________________________________________________________, (printed name of Investor)
acknowledge receipt of this Declaration by the mortgage brokerage/mortgage lender signed by
____________________________________ (printed name of Mortgage Broker/Lender Representative) .
Signature of Investor
Date
Section 3 - Information Disclosure
Summary
Part A. Property/Security to be Mortgaged
1. Civic address of the property:
2. Type of Property:
Property with existing buildings
Commercial
Single family residential
Industrial
Owner occupied
Agricultural
Rental
Other, explain:
Condominium
One-to-four unit residential
Five or more unit residential
Vacant land, development or construction project. Detail of project/proposal use,
including projected starting and completion dates:
Other:
3. Purchase Price:
(
a) Purchase Price of Property: $_____________ (
b) Date of Purchase:
____________
4. Property Taxes:
Annual property taxes: $_____________
Are taxes in arrears?
❍ No
❍ Yes
❍ Investor’s Solicitor to verify Taxes or ensure coverage under title insurance prior to
closing
Amount of arrears: $_____________
5. Condominium Fees (if applicable)
Monthly condominium fees: $_____________
Are fees in arrears?
❍ No
❍ Yes
Amount of arrears: $_____________
6. Zoning:
Is the zoning on the property appropriate for the proposed use?
❍ No
❍ Yes
❍ Investor’s Solicitor to verify zoning or ensure coverage under title insurance before
closing
If No, details:
7. Appraisal
❍ An appraisal has not been done on the property within the previous 12 months
❍ An appraisal has been done on the property within the previous 12 months
For all properties, appraised “as is” value: $_____________
For development and construction projects , projected market value when project is
complete $_____________.
(Note: If the appraisal was addressed to someone other than the investor of record, please provide a transmittal
letter.)
Date of appraisal: _________________
Name and address of appraiser:
Part B. Mortgage Particulars
1. Type of Mortgage:
Your investment represents:
❍ the entire mortgage
❍ a portion of the mortgage. Your portion represents ____% of the total.
Number of other investors/lenders that have an interest in this mortgage: _____________
The mortgage is registered in the following name(s):
Mortgagor(s):
Mortgagee(s):
If this investor is not listed as a mortgagee, explain:
2. Existing or New Mortgage:
❍ An existing registered mortgage or portion of an existing registered mortgage is being
purchased.
❍ Your investment will fund a new mortgage or portion of a new mortgage that has not
yet been registered.
3. Administered Mortgage:
Will the mortgage be administered for you?
❍ No
❍ Yes, name, address and licence number of administrator:
Important: A Mortgage Administrator must be licenced under the Mortgage
Regulation Act . See note at the end of Part E.
4. (
a) Terms of the mortgage
Amount of your investment:
Term:
Face value of the mortgage:
Amortization:
Interest rate is fixed at ____% per annum OR
Maturity date:
Interest rate is variable, explain:
Balance on maturity:
Borrower’s first payment due:
Compounding period:
Borrower’s rate of interest if different from
the rate of interest to be paid to the investor:
What is the borrower’s cost of
borrowing as disclosed to the
borrower?
Borrower’s rate of interest:
Investor(
s) rate of interest:
Payment frequency:
Payments to be made by
borrower:
repayment:
Payments to you:
(See Part D for fees charged to you)
(
b) If there are multiple investors in the mortgage, explain any differences in terms
offered to other investors, if any:
5. Rank of Mortgage (according to information from borrower)
The mortgage to be purchased/advanced is/will be a:
❍ First ❍ Second ❍ Third ❍ Other mortgage _______________________
Can the rank of the mortgage change?
❍ No
❍ Yes, explain
Prior encumbrances
❍ None OR
a) Priority:
b) Priority:
Face amount:
Face amount:
Amount owing:
Amount owing:
In default?
In default?
❍ No
❍ Yes
❍ Unknown
❍ No
❍ Yes
❍ Unknown
If yes, explain:
If yes, explain:
Name of Mortgagee:
Name of Mortgagee:
Other encumbrances, including environmental, regulatory and/or liens:
6. Loan to value ratio (according to information from borrower)
Total of prior encumbrances:
Amount of this mortgage:
Total amount of mortgages: (a+
b) Appraised “as is” value: (from Part
A) Loan to “as is” value: ((c/d) × 100)
Projected value: (where appropriate)
Loan to “projected value” ratio: ((c/f) × 100)
7. Amount of Mortgage Advance
If the amount of the mortgage advance is less than the face value of the mortgage, provide
explanation:
Part C. The Borrower
Name and Address of the Borrower:
❍ The brokerage/lender has identified the borrower(
s) and evidence of identity is
attached/will be provided on: ___________________________ (date)
❍ The brokerage/lender has not verified the identity of the borrower(s).
Explain what steps the brokerage/lender will take to verify the identity before closing:
Explain what steps the brokerage/lender has taken to verify the financial information about the
borrower:
Important: Financial information about the borrower’s ability to meet the mortgage
payments must be attached to this Investor Disclosure Statement.
Part D. Fees
1. Fees and charges payable by the investor
Mortgage brokerage fee/commission/other costs:
Approximate legal fees and disbursements:
Administration fees (where applicable):
Any other charges (specify):
Total:
Are any of the above fees or charges refundable?
❍ No
❍ Yes, explain
2. Fees and costs payable by the borrower:
Estimate
Paid to
Purpose
Part E. Attached Documents
Important: You should review the following documents carefully and assess the risks of
this investment before committing to invest. You should check that all documents are
consistent with this disclosure
summary. The following documents should be attached. If
any document is not attached an explanation must be provided in
section 8.
Attached
If the statement concerns an existing mortgage, a copy of the mortgage.
(
a) If an appraisal of the property has been done in the previous 12
months and is available to the brokerage/lender, a copy of the
appraisal.
(
b) If a copy of an appraisal of the property is not available, documentary
evidence of the property value, other than an agreement of purchase
and sale.
If an agreement of purchase and sale in respect of the property has been
entered into in the previous 12 months and is available to the
brokerage/lender, a copy of the agreement of purchase and sale and all
related schedules, amendments and waivers.
(
a) Documentary evidence of the borrower’s ability to meet the mortgage
payments.
(
b) A copy of the borrower’s application for the mortgage, including
documents submitted in support of an application.
If the mortgage is a new mortgage, documentary evidence of any down
payment made by the borrower for the purchase of the property.
A copy of any agreement that you may be asked to enter into with the
mortgage brokerage and/or mortgage lender.
If the investment is an existing mortgage, a certificate of insurance or other documentary
evidence confirming the insurance coverage with respect to the property.
List other documents being provided:
If other relevant documents are not being provided or the documents are not attached,
explain:
Important: the mortgage brokerage/lender is required to provide you with all other
information an investor of ordinary prudence would consider to be material to a decision
whether to invest in the mortgage, so that you can make an informed decision.
This information might include the following:
1. If the mortgage is for a construction development project:
a. a detailed description of the project;
b. a
schedule of the funds that have been advanced or are to be advanced to the
borrower; and
c. the identity of any person who will monitor the disbursements of the funds to the
borrower and the use of those funds by the borrower.
2. If the property is a rental property, details of leasing arrangements, assignment of rent
provisions and vacancy status.
3. Environmental consideration affecting the value of the property.
4. If applicable, a copy of any power of attorney authorizations.
Important: If your investment is being administered, the mortgage administrator must:
1. Disclose the relationship, if any, between the administrator and each borrower.
2. Disclose whether the administrator may receive, or may pay, any fees or other
remuneration in connection with the administration of the mortgage, the basis for
calculating them, and the payor’s identity.
3. Disclose whether it is receiving a fee or other remuneration for referring you to a person,
and disclose the administrator’s relationship with that person.
4. Disclose actual or potential conflicts of interest that may arise from the transaction.
Part F. Certification
This Investor Disclosure Statement has been completed by:
Name, address and licence number of brokerage/lender
I have fully completed the above Investor Disclosure Statement in accordance with the
Mortgage Regulation Act and its regulations and declare it to be accurate in every respect to the
best of my knowledge.
Printed name of Mortgage Broker or Lender
Representative
Licence Number of Mortgage
Broker/Lender
Signature of Mortgage Broker or Lender
Representative
Date
Acknowledgement
I, ________________________________________________, (printed name of Investor) of
________________________ (address) acknowledge receipt of this Investor Disclosure
Statement, signed by ____________________________________ (printed name of Mortgage
Broker/Lender Representative) .
Signature of Investor
Date
One copy of this form must be provided to the prospective investor and one copy must be
retained by the mortgage brokerage/lender.
________________________________________________________________
Form 5—Investor Renewal Disclosure
Mortgage Regulation Act , General Disclosure Regulations
Disclosure Duties by Mortgage Brokerage/Mortgage Lender
In this Investor Renewal Disclosure Statement, mortgage brokerages or mortgage lenders are
required to provide you with the completed Investor Renewal Disclosure Statement that contains
important information in connection with this transaction.
A mortgage broker or mortgage lender must:
Advise you if the brokerage/lender cannot verify the identity of another party to the
transaction.
Disclose its relationship with each party to the transaction.
Disclose whether the brokerage/lender is receiving a fee or other remuneration for
referring you to a person, and disclose the relationship to that person.
Disclose material risks to the transaction that you should consider.
Disclose actual or potential conflicts of interest that may arise from this transaction.
Take reasonable steps to ensure that any mortgage investment the brokerage/lender
presents to you is suitable having regard to your needs and circumstances.
You must receive these disclosures in writing and acknowledge receipt of them. You should
keep a copy for your records.
Important: This form is required by law and will provide the prospective investor with
important information to assist you in making a decision about your investment.
If new funds are being advanced, Form 4—Investor Disclosure Statement should be used
instead of this form.
This information must be disclosed at least 2 business days before you enter into an agreement
to renew a mortgage. You may agree to reduce the 2 business day waiting period to 1 business
day by consenting in writing.
Section 1 - Declaration by the Mortgage Brokerage/Mortgage Lender
1. This
section requires the mortgage brokerage/lender to disclose the nature of the
relationship between the brokerage/lender and other persons involved in the mortgage
transaction. For the purposes of this Investor Renewal Disclosure Statement, 2 persons are
related if they share any relationship other than an arm’s length business relationship. For
example, a shareholder, director, officer, partner or employee of a brokerage/lender is
related to the brokerage/lender and to any mortgage broker or associate mortgage broker
authorized to act on behalf of the brokerage/any representative of the lender.
This declaration is made by
Name, address and licence number of brokerage/lender
2. Does the mortgage brokerage/mortgage lender or any of its brokers or associate
brokers/representatives have or expect to have a direct or indirect interest in this property,
identified in
Section 2, Part A?
❍ No
❍ Yes, explain:
3. Does any person related to the mortgage brokerage/mortgage lender or any of its brokers or
associate brokers/representatives have or expect to have a direct or indirect interest in this
property?
❍ No
❍ Yes, explain:
4. Is the borrower related to the mortgage brokerage/mortgage lender or to any of the officers,
directors, partners, employees of the shareholders of the mortgage brokerage/mortgage
lender or any of its brokers or associate brokers/representatives?
❍ No
❍ Yes, explain:
5. Is the individual or company that appraised the property related to the mortgage
brokerage/mortgage lender or any of its brokers or associate brokers/representatives?
❍ No
❍ Yes, explain:
6. Describe any conflicts or potential conflicts of interest in connection with this mortgage
investment, other than those described above.
7. Describe what steps the mortgage brokerage/mortgage lender has taken to reduce the risk
resulting from any conflicts or potential conflicts of interest.
8. (To be completed by brokerages only.) The mortgage brokerage is acting for:
❍ The investor and not the borrower
❍ The borrower and not the investor
❍ Both the borrower and the investor
(Note: if investor is a private investor, brokerage may not act for both the borrower and the
private investor)
9. Does the mortgage brokerage/mortgage lender or any of its brokers or associate
brokers/representatives expect to gain an interest or benefit from this transaction other than
the fees disclosed in
Section 2, Part D of this Investor Renewal Disclosure Statement?
❍ No
❍ Yes, explain:
10. Describe all material risks of this renewal:
The mortgage brokerage/mortgage lender has fully complied with all requirements of the
Mortgage Regulation Act and its regulations.
I have fully completed the above Declaration of Brokerage Relationships and Potential
Conflicts of Interest in accordance with the Mortgage Regulation Act and its regulations and
declare it to be accurate in every aspect to the best of my knowledge.
Signature of Mortgage Broker/Lender
Representative
Date
Printed name of Mortgage Brokerage/Mortgage
Lender
Licence Number of
Brokerage/Lender
Acknowledgement
I, ________________________________________________________, (printed name of investor)
acknowledge receipt of this Declaration by the mortgage brokerage/mortgage lender signed by
____________________________________ (printed name of Mortgage Broker/Lender Representative) .
Signature of Investor
Date
Section 2 - Information Disclosure
Summary
Part A. Property/Security to be Mortgaged
1. Civic address of the property:
Property with existing buildings
Commercial
Single family residential
Industrial
Owner occupied
Agricultural
Rental
Other, explain:
Condominium
One-to-four unit residential
Five or more unit residential
Vacant land, development or construction project. Detail of project/proposal use,
including projected starting and completion dates:
Other:
3. Property Taxes:
Annual property taxes: $_____________
Are taxes in arrears?
❍ No
❍ Yes
❍ Investor’s Solicitor to verify Taxes or ensure coverage under title insurance prior to
closing
Amount of arrears: $_____________
4. Condominium Fees (if applicable)
Monthly condominium fees: $_____________
Are fees in arrears?
❍ No
❍ Yes
Amount of arrears: $_____________
5. Zoning:
Has there been a change in the zoning since the previous disclosure?
❍ No
❍ Yes
If Yes, details:
6. Appraisal
❍ An appraisal has not been done on the property within the previous 12 months
❍ An appraisal has been done on the property within the previous 12 months
For all properties, appraised “as is” value: $_____________
For development and construction projects , projected market value when project is
complete $_____________.
(Note: If the appraisal was addressed to someone other than the investor of record, please provide a transmittal
letter.)
Date of appraisal: _________________
Name and address of appraiser:
Part B. Mortgage Particulars
1. Type of Mortgage:
Your investment represents:
❍ the entire mortgage
❍ a portion of the mortgage. Your portion represents ____% of the total.
Number of other investors/lenders that have an interest in this mortgage: _____________
The mortgage is registered in the following name(s):
Mortgagor(s):
Mortgagee(s):
If this investor is not listed as a mortgagee, explain:
2. Administered Mortgage:
Will the mortgage be administered for you?
❍ No
❍ Yes, name, address and licence number of administrator:
Important: A Mortgage Administrator must be licenced under the Mortgage
Regulation Act . See note at the end of Part E.
3. (
a) Terms of the mortgage
Amount of your investment:
Term:
Face value of the mortgage:
Amortization:
Interest rate is fixed at ____% per annum OR
Maturity date:
Interest rate is variable, explain:
Balance on maturity:
Borrower’s first payment due:
Compounding period:
Borrower’s rate of interest if different from
the rate of interest to be paid to the investor:
What is the borrower’s cost of
borrowing as disclosed to the
borrower?
Borrower’s rate of interest:
Investor(
s) rate of interest:
Payment frequency:
Payments to be made by
borrower:
repayment:
Payments to you:
(See Part D for fees charged to you)
(
b) If there are multiple investors in the mortgage, explain any differences in terms
offered to other investors, if any:
4. Rank of Mortgage (according to information from borrower)
The mortgage to be purchased/advanced is/will be a:
❍ First ❍ Second ❍ Third ❍ Other mortgage _______________________
Can the rank of the mortgage change?
❍ No
❍ Yes, explain
Prior encumbrances
❍ None OR
a) Priority:
b) Priority:
Face amount:
Face amount:
Amount owing:
Amount owing:
In default?
In default?
❍ No
❍ Yes
❍ Unknown
❍ No
❍ Yes
❍ Unknown
If yes, explain:
If yes, explain:
Name of Mortgagee:
Name of Mortgagee:
Other encumbrances, including environmental, regulatory and/or liens:
5. Loan to value ratio
❍ There has been no recalculation of the loan to value ratio since the initial
investment/last renewal date.
❍ The loan to value ratio has changed since the initial investment/last renewal date.
The loan to value ratio has changed because of
❍ new appraisal or evidence of value
❍ change in encumbrances
Explain and show calculations:
Total of prior encumbrances:
Amount of this mortgage:
Total amount of mortgages: (a+
b) Appraised “as is” value: (from Part
A) Loan to “as is” value: ((c/d) × 100)
Projected value: (where appropriate)
Loan to “projected value” ratio: ((c/f) × 100)
Part C. The Borrower
Name and Address of the Borrower:
Part D. Fees
1. Fees and charges payable by the investor
Mortgage brokerage fee/commission/other costs:
Approximate legal fees and disbursements:
Administration fees (where applicable):
Any other charges (specify):
Total:
Are any of the above fees or charges refundable?
❍ No
❍ Yes, explain
2. Fees and costs payable by the borrower:
Estimate
Paid to
Purpose
Part E. Attached Documents
Important: You should review the following documents carefully and assess the risks of
this investment before committing to invest. You should check that all documents are
consistent with this disclosure
summary. The following documents should be attached. If
any document is not attached an explanation must be provided in
section 7.
Attached
A copy of the mortgage.
If an appraisal of the property has been done in the previous 12 months and
is available to the brokerage/lender, a copy of the appraisal.
If an agreement of purchase and sale in respect of the property has been
entered into in the previous 12 months and is available to the
brokerage/lender, a copy of the agreement of purchase and sale and all
related schedules, amendments and waivers.
A copy of any agreement that you may be asked to enter into with the
mortgage brokerage and/or mortgage lender.
A certificate of insurance or other documentary evidence confirming the
insurance coverage with respect to the property.
List other documents being provided:
If other relevant documents are not being provided or the documents are not
attached, explain:
Important: the mortgage brokerage/lender is required to provide you with all other
information an investor of ordinary prudence would consider to be material to a decision
whether to invest in the mortgage, so that you can make an informed decision.
This information might include the following:
1. If the mortgage is for a construction development project:
a. a detailed description of the project;
b. a
schedule of the funds that have been advanced or are to be advanced to the
borrower; and
c. the identity of any person who will monitor the disbursements of the funds to the
borrower and the use of those funds by the borrower.
2. If the property is a rental property, details of leasing arrangements, assignment of rent
provisions and vacancy status.
3. Environmental consideration affecting the value of the property.
4. If applicable, a copy of any power of attorney authorizations.
Important: if your investment is being administered, the mortgage administrator must:
1. Disclose the relationship, if any, between the administrator and each borrower.
2. Disclose whether the administrator may receive, or may pay, any fees or other
remuneration in connection with the administration of the mortgage, the basis for
calculating them, and the payor’s identity.
3. Disclose whether it is receiving a fee or other remuneration for referring you to a person,
and disclose the administrator’s relationship with that person.
4. Disclose actual or potential conflicts of interest that may arise from the transaction.
Part F. Certification
This Investor Renewal Disclosure Statement has been completed by:
Name, address and licence number of brokerage/lender
I have fully completed the above Investor Renewal Disclosure Statement in accordance with the
Mortgage Regulation Act and its regulations and declare it to be accurate in every respect to the
best of my knowledge.
Printed name of Mortgage Broker or Lender
Representative
Licence Number of Mortgage
Broker/Lender
Signature of Mortgage Broker or Lender
Representative
Date
Acknowledgement
I, ________________________________________________, (printed name of Investor) of
________________________ (address) acknowledge receipt of this Investor Renewal Disclosure
Statement, signed by ____________________________________ (printed name of Mortgage
Broker/Lender Representative) .
Signature of Investor
Date
One copy of this form must be provided to the prospective investor and one copy must be
retained by the mortgage brokerage/lender.
________________________________________________________________
Form 6A—Annual Information Return: Mortgage Brokerages
( Mortgage Regulation Act , Reporting Requirements Regulations )
Name of Licensee: _________________ Licence Number: _________________
For the reporting period of October 1, 20____ to September 30, 20____.
Information provided must be based on Nova Scotia data only, except for questions 1, 6
and 7.
1. Did the mortgage brokerage broker mortgages in another Canadian province or territory?
❍ No
❍ Yes, complete table:
Canadian Province or Territory
% of Mortgages
(of total number)
% of Mortgages
(of total dollar amount)
British Columbia
Alberta
Saskatchewan
Manitoba
Ontario
Quebec
New Brunswick
Nova Scotia
Prince Edward Island
Newfoundland and Labrador
Nunavut
Northwest Territories
Yukon
2. Did the mortgage brokerage close any mortgage deals in Nova Scotia during the reporting
period? (Information provided must be based on Nova Scotia data only.)
❍ No
❍ Yes, complete table:
Mortgage Type
Number of Mortgages
Dollar Amount of
Mortgages
Include both new and renewal mortgage data for a-c, where applicable
Residential
Commercial
Other (specify types) :
Total (a+b+
c) Complete d-q for residential business only:
Conventional
High ratio insured
High ratio uninsured
Total (d+e+
f) First mortgage
Second mortgage
Third mortgage
Other mortgages (4th, 5th,
etc.)
Total (g+h+i+
j) New loans
Renewals
Total (k+
l) First time homebuyers
Reverse mortgage
Sub-prime
Construction mortgages
Home equity line of credit
3. Please provide the following information regarding the funding sources of the mortgage
brokerage’s residential mortgage business: (Information provided must be based on Nova
Scotia data only.)
Type of Lender
Number of Mortgages
Dollar Amount of
Mortgages
Bank
Credit union
Insurance company
Trust company
Mortgage finance company (MFC)/
Monoline
Mortgage investment corporation
(MIC)
Mortgage investment entity (MIE)
(other than a MIC)
Private investor
Self-funding
Other (specify types) :
Total
4. How many lenders did the mortgage brokerage have available to fund residential
mortgages as at September 30? (Information provided must be based on Nova Scotia data
only.) _______________
5. Did the mortgage brokerage fund more than 20% of its residential mortgage business, in
dollar value, with any one lender? (Information provided must be based on Nova Scotia
data only.)
❍ No
❍ Yes, complete table:
Type of Lender
Name
Percent of Business
(>20% only)
Bank
Credit union
Insurance company
Trust company
Mortgage finance company
(MFC)/Monoline
Mortgage investment corporation
(MIC)
Mortgage investment entity (MIE)
(other than a MIC)
Private investor
Self-funding
Other (specify types) :
Total
6. Did the principal broker or an officer or director of the mortgage brokerage have an equity
interest in a mortgage investment corporation (MIC) as at September 30?
❍ No
❍ Yes, list the name, description of equity interest and legal name of the MIC for each
person who had an equity interest:
7. Did the principal broker or an officer or director of the mortgage brokerage hold any
management roles in a MIC as at September 30?
❍ No
❍ Yes, list the name of each person who held a management role, the position held and
the legal name of the MIC:
Were any of the MICs fully managed by the principal broker?
❍ No
❍ Yes
Were any of the MICs subject to any legal claims in any Canadian jurisdiction?
❍ No
❍ Yes
8. Please provide the amount of the mortgage brokerage’s residential mortgage business that
was funded by MIC(
s) during the reporting period: (Information provided must be based
on Nova Scotia data only.)
Number of mortgages
Dollar amount of mortgages
Number of MICs that funded the mortgages
9. Please provide the amount of the mortgage brokerage’s residential mortgage business that
was funded by MIE(
s) during the reporting period: (Information provided must be based
on Nova Scotia data only.)
Number of mortgages
Dollar amount of mortgages
Number of MIEs that funded the mortgages
10. Did the mortgage brokerage broker any mortgages funded by private investors, other than
through a MIC or MIE? (Information provided must be based on Nova Scotia data only.)
❍ No
❍ Yes, complete table:
Number of mortgages
Dollar amount of mortgages
Number of private investors
Based on the value of the mortgages, please list the top 3 private investors that funded the
mortgage brokerage’s mortgage transactions:
Private Investor Name
Number of Mortgages
Dollar Amount of
Mortgages
11. Did the mortgage brokerage syndicate
9 mortgages? (Information provided must be based
on Nova Scotia data only.)
❍ No
❍ Yes, complete the following table respecting the mortgages syndicated by the
mortgage brokerage:
Type of
Mortgage
Total
Number of
Mortgages
Total
Dollar
Amount of
Mortgages
Total
Number of
Investors
and Lenders
Total
Number
of Private
Investors
Who
Administers the
Mortgages
Number and
Value of
High-Ratio
Syndicated
Mortgages
Number
Dollar
Amount
Residential
Commercial
Other
Based on the value of the mortgages, please list the top 3 syndicates that funded the
mortgage brokerage’s syndicated mortgage transactions:
Identifying Details of Syndicate
Number of
Mortgages
Dollar Amount of
Mortgages
12. Did the mortgage brokerage refer any clients to other licensed mortgage brokerages to
invest in syndicated mortgages? (Information provided must be based on Nova Scotia data
only.)
❍ No
❍ Yes, complete:
How many clients did the mortgage brokerage refer? _______________
Please provide the dollar amount of compensation received by the mortgage
brokerage for referring persons to invest in syndicated mortgages.
$_______________
13. Did the mortgage brokerage arrange or participate in arranging any securitization
facilities
10 ? (Information provided must be based on Nova Scotia data only.)
❍ No
❍ Yes, complete table:
Number of instruments
Dollar amount of instruments
14. Please provide the following breakdown of written complaints received by the mortgage
brokerage during the reporting period: (Information provided must be based on Nova
Scotia data only.)
Complaint Category
Number of
Complaints
Number
Responded to
(as at September 30)
Number
Resolved
(as at September 30)
1. Administration
Complaints regarding administrative
practices; e.g., failing to return original
records, record-keeping, payment
schedule
problems, contractual disputes (client fees or
services) and customer service (client
expectations)
2. Disclosure
Complaints regarding disclosure
requirements
3. Marketing and sales
Complaints regarding product suitability,
incomplete, inappropriate or misleading
public relations material, high-pressure sales
tactics, tied selling
4. Fraud
Complaints regarding deceptive or deliberate
practices to secure unfair or unlawful gain;
e.g., falsifying documents or information
related to a mortgage transaction or
arrangement, defalcation
Total
Attestation by the Principal Broker
I, (print name) , of (print name of mortgage brokerage) , certify as follows:
I am aware that it is an offence to make a false statement to the Registrar of Mortgage
Regulation. The information provided in this annual information return is true to the best of
my knowledge and belief.
Note: Only the principal broker of the brokerage can submit this annual information return.
The above name must match the name on the principal broker’s licence.
____________________________
(signature of principal broker)
______________________
(date)
Footnotes
Conventional: Loan to value ratio less than or equal to 80%.
High ratio insured: Loan to value ratio greater than 80% and insured with mortgage default insurance.
High ratio uninsured: Loan to value ratio greater than 80% and not insured with mortgage default insurance.
Renewals: Mortgages that were originally placed by the brokerage and renewed with the same lender on the
same property. Renewals are any extensions of the terms of the mortgage that were not originally
contemplated.
Sub-prime: For the purposes of this return, sub-prime refers to a mortgage for an individual with a credit
score of 600 points or less (or a reasonable equivalent). These mortgages are arranged based on the credit
worthiness of the individual borrower.
For the purposes of this return, a mortgage finance company (MFC)/Monoline lender is a non-depository
financial institution that underwrites and services mortgages sourced through brokers.
For the purposes of this return, a mortgage investment corporation (MIC) is an investment or lending
company designed specifically for mortgage investing or lending in Canada and governed by the Income Tax
Act (Canada).
For the purposes of this return, a mortgage investment entity (MIE), other than a MIC, is a mortgage
financing business that pools together money from investors to lend on mortgages. MIEs can vary in
organizational structure, and may be a trust, a limited partnership or a corporation.
For the purposes of this return, a syndicated mortgage is a mortgage offered by a group of investors or
lenders that work together to provide funds for a single borrower, with each investor or lender noted as a
mortgagee on the mortgage. A mortgage brokerage that syndicates a mortgage solicits investors or lenders to
offer the syndicated mortgage by the group of investors or lenders. A syndicate refers to a group of investors
or lenders who offer a syndicated mortgage.
For the purposes of this return, a securitization facility is a tool used to pool various types of existing debt,
repackage them as bonds and sell the new debt obligations to investors.
________________________________________________________________
Form 6B—Annual Information Return: Mortgage Lenders
( Mortgage Regulation Act , Reporting Requirements Regulations )
Name of Licensee: _________________ Licence Number: _________________
For the reporting period of October 1, 20____ to September 30, 20____.
Information provided must be based on Nova Scotia data only, except for questions 1, 5
and 6.
1. Did the mortgage lender fund mortgages in another Canadian province or territory?
❍ No
❍ Yes, complete table:
Canadian Province or Territory
% of Mortgages
(of total number)
% of Mortgages
(of total dollar amount)
British Columbia
Alberta
Saskatchewan
Manitoba
Ontario
Quebec
New Brunswick
Nova Scotia
Prince Edward Island
Newfoundland and Labrador
Nunavut
Northwest Territories
Yukon
2. Did the mortgage lender close any mortgage deals in Nova Scotia during the reporting
period? (Information provided must be based on Nova Scotia data only.)
❍ No
❍ Yes, complete table:
Mortgage Type
Number of
Mortgages
Dollar Amount of
Mortgages
Include both new and renewal mortgage data for a-c, where applicable
Residential
Commercial
Other (specify types) :
Total (a+b+
c) Complete d-q for residential business only:
Conventional
High ratio insured
High ratio uninsured
Total (d+e+
f) First mortgage
Second mortgage
Third mortgage
Other mortgages (4th, 5th, etc.)
Total (g+h+i+
j) New loans
Renewals
Total (k+
l) First time homebuyers
Reverse mortgage
Sub-prime
Construction mortgages
Home equity line of credit
3. Did the mortgage lender fund mortgages through a mortgage brokerage? (Information
provided must be based on Nova Scotia data only.)
❍ No
❍ Yes, number of brokerages used: _______________
4. Did the mortgage lender fund more than 20% of its business, in dollar value, with any one
brokerage? (Information provided must be based on Nova Scotia data only.)
❍ No
❍ Yes, complete table:
Name of Mortgage Brokerage
Percent of Business
(>20% only)
5. Did any officers or directors of the mortgage lender have an equity interest in a mortgage
investment corporation (MIC)
6 as at September 30?
❍ No
❍ Yes, list the name, description of equity interest and legal name of the MIC for each
person who had an equity interest:
6. Did any officers or directors of the mortgage lender hold any management roles in a MIC
as at September 30?
❍ No
❍ Yes, list the name of each person who held a management role, the position held and
the legal name of the MIC:
Were any of the MICs subject to any legal claims in any Canadian jurisdiction?
❍ No
❍ Yes
7. Please provide the amount of the mortgage lender’s business that was funded by MIC(
s) during the reporting period: (Information provided must be based on Nova Scotia data
only.)
Number of mortgages
Dollar amount of mortgages
Number of MICs that funded the mortgages
8. Please provide the amount of the mortgage lender’s residential mortgage business that was
funded by any mortgage investment entities (MIEs)
7 during the reporting period:
(Information provided must be based on Nova Scotia data only.)
Number of mortgages
Dollar amount of mortgages
Number of MIEs that funded the mortgages
9. Did the mortgage lender fund any mortgages with funds from private investors, other than
through a MIC or MIE? (Information provided must be based on Nova Scotia data only.)
❍ No
❍ Yes, complete table:
Number of mortgages
Dollar amount of mortgages
Number of private investors
Based on the value of the mortgages, please list the top 3 private investors that funded the
mortgage lender’s transactions:
Private Investor Name
Number of Mortgages
Dollar Amount of
Mortgages
10. Did the mortgage lender syndicate
8 mortgages? (Information provided must be based on
Nova Scotia data only.)
❍ No
❍ Yes, complete:
Type of
Mortgage
Total
Number of
Mortgages
Total Dollar
Amount of
Mortgages
Total
Number of
Investors
and
Lenders
Total
Number
of Private
Investors
Number and
Value of
High-Ratio
Syndicated
Mortgages
Who
Administers the
Mortgages
Number
Dollar
Amount
Residential
Commercial
Other
Based on the value of the mortgages, please list the top 3 syndicates that funded the
mortgage lender’s syndicated mortgage transactions:
Identifying Details of Syndicate
Number of Mortgages
Dollar Amount of
Mortgages
11. Did the mortgage lender refer any persons to any licensed brokerages to invest in
syndicated mortgages? (Information provided must be based on Nova Scotia data only.)
❍ No
❍ Yes, complete:
How many persons did the mortgage lender refer? _______________
Please provide the dollar amount of compensation received by the mortgage lender for
referring persons to invest in syndicated mortgages.
$_______________
12. Did the mortgage lender arrange or participate in arranging any securitization facilities
9 ?
(Information provided must be based on Nova Scotia data only.)
❍ No
❍ Yes, complete table:
Number of instruments
Dollar amount of instruments
13. Did the mortgage lender make securitization sales? (Information provided must be based
on Nova Scotia data only.)
❍ No
❍ Yes, complete table:
Number of mortgages
Dollar amount of mortgages
14. Please provide the following breakdown of written complaints received by the mortgage
lender during the reporting period: (Information provided must be based on Nova Scotia
data only.)
Complaint Category
Number of
Complaints
Number
Responded to
(as at September 30)
Number
Resolved
(as at September 30)
1. Administration
Complaints regarding administrative
practices; e.g., failing to return original
records, record-keeping, payment
schedule
problems, contractual disputes (client fees or
services) and customer service (client
expectations)
2. Disclosure
Complaints regarding disclosure
requirements
3. Marketing and sales
Complaints regarding product suitability,
incomplete, inappropriate or misleading
public relations material, high-pressure sales
tactics, tied selling
4. Fraud
Complaints regarding deceptive or deliberate
practices to secure unfair or unlawful gain;
e.g., falsifying documents or information
related to a mortgage transaction or
arrangement, defalcation
Total
Attestation by the Compliance Officer
I, (print name) , of (print name of mortgage lender) , certify as follows:
I am aware that it is an offence to make a false statement to the Registrar of Mortgage
Regulation. The information provided in this annual information return is true to the best of
my knowledge and belief.
____________________________________
(signature of compliance officer)
______________________
(date)
Footnotes
Conventional: Loan to value ratio less than or equal to 80%.
High ratio insured: Loan to value ratio greater than 80% and insured with mortgage default insurance.
High ratio uninsured: Loan to value ratio greater than 80% and not insured with mortgage default insurance.
Renewals: Mortgages that were originally placed by the lender and renewed with the same lender on the
same property. Renewals are any extensions of the terms of the mortgage that were not originally
contemplated.
Sub-prime: For the purposes of this return, sub-prime refers to a mortgage for an individual with a credit
score of 600 points or less (or a reasonable equivalent). These mortgages are arranged based on the credit
worthiness of the individual borrower.
For the purposes of this return, a mortgage investment corporation (MIC) is an investment or lending
company designed specifically for mortgage investing or lending in Canada and governed by the Income Tax
Act (Canada).
For the purposes of this return, a mortgage investment entity (MIE), other than a MIC, is a mortgage-financing business that pools together money from investors to lend on mortgages. MIEs can vary in
organizational structure, and may be a trust, a limited partnership or a corporation.
For the purposes of this return, a syndicated mortgage is a mortgage offered by a group of investors or
lenders that work together to provide funds for a single borrower, with each investor or lender noted as a
mortgagee on the mortgage. A mortgage lender that syndicates a mortgage solicits investors or lenders to offer
the syndicated mortgage by the group of investors or lenders. A syndicate refers to a group of investors or
lenders who offer a syndicated mortgage.
For the purposes of this return, a securitization facility is a tool used to pool various types of existing debt,
repackage them as bonds and sell the new debt obligations to investors.
________________________________________________________________
Form 6C—Annual Information Return: Mortgage Administrators
( Mortgage Regulation Act , Reporting Requirements Regulations )
Name of Licensee: _________________ Licence Number: _________________
For the reporting period of October 1, 20____ to September 30, 20____.
1. Did the mortgage administrator administer mortgages in another Canadian province or
territory?
❍ No
❍ Yes, complete table:
Canadian Province or Territory
% of Mortgages
(of total number)
% of Mortgages
(of total dollar amount)
British Columbia
Alberta
Saskatchewan
Manitoba
Ontario
Quebec
New Brunswick
Nova Scotia
Prince Edward Island
Newfoundland and Labrador
Nunavut
Northwest Territories
Yukon
2. Did the mortgage administrator have a trust account under the Mortgage Regulation Act
( MRA ) as at the last day of the reporting period (September 30)?
❍ No, explain: __________________________________
❍ Yes, complete:
How many MRA trust accounts did the mortgage administrator have as at the last day of
the reporting period (September 30)? _______________
Of the total number, how many MRA trust accounts did the mortgage administrator open
during the reporting period? _______________
Did the mortgage administrator obtain prior written consent from the Registrar to open any
new MRA trust accounts during the reporting period?
❍ Not applicable
❍ No
❍ Yes
If not, why? __________________________________
Did the mortgage administrator reconcile all of its MRA trust accounts?
❍ Not applicable
❍ No
❍ Yes
If not, why? __________________________________
3. Was there a shortfall, at any time, in any of the MRA trust accounts?
❍ Not applicable
❍ No
❍ Yes, complete table:
Date
Amount
Corrected
When
Reported to
Registrar
Comment
❍ Yes
❍ No
❍ Yes
❍ No
❍ Yes
❍ No
❍ Yes
❍ No
❍ Yes
❍ No
4. Did the mortgage administrator operate a mortgage investment corporation (MIC)
1 as at
September 30?
❍ No
❍ Yes
5. Did the mortgage administrator administer any mortgages on behalf of a mortgage
investment entity (MIE)
2 as at September 30?
❍ No
❍ Yes
6. Did the mortgage administrator administer any mortgages on behalf of private investors,
other than through a MIC or MIE, in which either an investor or borrower were located in
Nova Scotia?
❍ No
❍ Yes, complete table:
Number of mortgages
Dollar amount of mortgages
Number of private investors
Based on the value of the mortgages, please list the top 3 private investors the mortgage
administrator administered mortgages for:
Private Investor Name
Number of Mortgages
Dollar Amount of
Mortgages
7. Did the mortgage administrator administer any syndicated mortgages
3 in which an investor,
lender or borrower were located in Nova Scotia?
❍ No
❍ Yes, complete table:
Number of mortgages
Dollar amount of mortgages
Number of investors or lenders
Based on the value of mortgages, please list the top 3 investors or lenders the mortgage
administrator administered syndicated mortgages for:
Investor or Lender Name
Number of Mortgages
Dollar Amount of
Mortgages
8. Did the mortgage administrator administer any securitization facilities
4 ?
❍ No
❍ Yes, complete table:
Number of instruments
Dollar amount of instruments
9. How many written complaints did the mortgage administrator receive during the reporting
period? ________
Of the total written complaints received, how many were responded to? ________
Of the total written complaints received, how many were resolved as at September 30?
________
Please provide the following breakdown of complaints received:
Complaint Category
Number of
Complaints
Comments
(Provide a brief explanation about the types
of complaints received by the mortgage
administrator for each category)
1. Administration
Complaints regarding administrative practices; e.g.,
failing to return original records, record-keeping,
contractual disputes (client fees or services) and
customer service (client expectations)
2. Disclosure/trust agreement
Complaints regarding disclosure requirements or
contents of trust agreement
3. Marketing and sales
Complaints regarding product suitability,
incomplete, inappropriate or misleading public
relations material, high-pressure sales tactics, tied
selling
4. Fraud
Complaints regarding deceptive or deliberate
practices to secure unfair or unlawful gain, e.g.,
falsifying documents or information related to a
mortgage transaction or arrangement, defalcation
Total
Attestation by the Compliance Officer
I, (print name) , of (print name of mortgage administrator) , certify as follows:
I am aware that it is an offence to make a false statement to the Registrar of Mortgage
Regulation. The information provided in this annual information return is true to the best of
my knowledge and belief.
________________________________
(signature of compliance officer)
______________________
(date)
Footnotes
For the purposes of this return, a mortgage investment corporation (MIC) is an investment or lending
company that is designed specifically for mortgage investing or lending in Canada and is governed by the
Income Tax Act (Canada).
For the purposes of this return, a mortgage investment entity (MIE), other than a MIC, is a mortgage-financing business that pools together money from investors to lend on mortgages. MIEs can vary in
organizational structure, and may be a trust, a limited partnership or a corporation.
For the purposes of this return, a syndicated mortgage is a mortgage offered by a group of investors or
lenders that work together to provide funds for a single borrower, with each investor or lender noted as a
mortgagee on the mortgage.
For the purposes of this return, a securitization facility is a tool used to pool various types of existing debt,
repackage them as bonds and sell the new debt obligations to investors.
________________________________________________________________
Form 7—Statutory Declaration: Mortgage Administrator Not Handling Trust Property
( Mortgage Regulation Act , Reporting Requirements Regulations )
I, ___________________________________ (name) , Compliance Officer for
_______________________________ (name of mortgage administrator) , Licence Number
___________, do solemnly declare that at no time during the fiscal year from
_____________________ , 20___, to ______________________, 20____, did the mortgage
administrator receive or handle any trust property within the meaning of the Mortgage
Regulation Act .
I MAKE THIS DECLARATION conscientiously believing it to be true and knowing that it is
of the same force and effect as if made under oath and by virtue of the Canada Evidence Act.
Dated this ___________ day of ___________________ , 20 _____ .
Sworn to before me at __________________, )
in the County of _______________________, )
this day of ___________________, 20___ )
________________________________________)
___________________________________
A Barrister or Commissioner of the Supreme ) Signature of Compliance Officer
Court of Nova Scotia ) Print name: _________________________
Legislative History
Reference Tables
Forms Regulations
N.S. Reg.
132/2020
Mortgage Regulation Act
Note: The
information in these tables does not form part of the regulations and is
compiled by the Office of the Registrar of Regulations for reference only.
Source Law
The current consolidation of the Forms Regulations made under the Mortgage Regulation Act includes all of the following
regulations:
N.S.
Regulation
In force
date*
How in force
Royal Gazette
Part II Issue
132/2020
Nov 1, 2021
date
specified (date that Act comes into force on proclamation)
Oct 9, 2020
214/2022
Nov 1, 2022
date specified
Oct 7, 2022
146/2024
Sep 1, 2024
date specified
Aug 9, 2024
169/2025
Sep 1, 2025
date specified
Sep 19, 2025
The following regulations are not
yet in force and are not included in the current consolidation:
N.S.
Regulation
In force
date*
How in force
Royal Gazette
Part II Issue
*See subsection 3(6) of the Regulations Act for
rules about in force dates of regulations.
Amendments by Provision
ad. = added
am. = amended
fc. = fee change
ra. = reassigned
rep. = repealed
rs. = repealed and substituted
Provision affected
How affected
Form 1 ..............................................
am. 214/2022, 169/2025
Form 2 ..............................................
am. 214/2022, 169/2025
Form 3 ..............................................
am. 169/2025
Form 6A ...........................................
am. 146/2024; rs. 169/2025
Form 6B ............................................
am. 146/2024; rs. 169/2025
Form 6C ............................................
am. 146/2024; rs. 169/2025
Form 7 ..............................................
ad. 169/2025
Note that changes to headings are not
included in the above table.
Editorial Notes and Corrections
Note
Effective
date
Repealed and Superseded
N.S.
Regulation
Title
In force
date
Repealed
date
Note: Only
regulations that are specifically repealed and replaced appear in this
table. It may not reflect the entire
history of regulations on this subject matter.