Why So Many Mortgage Documents?


Documents, documents and more documents!!

I understand just how overwhelming it can feel when your Mortgage Broker gives you a list of the documents required for your mortgage application.

The Office of the Superintendent of Financial Institutions, also known as OSFI, is responsible for the regulations around documents that are required for your mortgage application. OSFI have a specific goal of protecting the stability of the Canadian banking system. Over the last 10 years, the lending market has become much more strict and complex and the federal regulations that OSFI insist lenders abide by are always changing.


Mortgage Brokers are continuously educating themselves to keep up with the changes that OSFI is introducing, “Knowing and understanding the document requirements for clients individual situations allows us to remove the stress and make the mortgage process as painless as possible. We don’t want clients to spend time gathering documents that are not needed.”


If you want to reduce your stress during the financial phase of your home purchase, contact me for information regarding the documents that you will require for your application. Providing most of the documents prior to finding a property ensures that any and all questions that may arise are addressed and dealt with prior to shopping for a property.

Bailey Coats

Licensed Mortgage Associate

Lic. #316964

Straightforward Mortgages Across The Lakeland & Surrounding Communities

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Spruce Grove, Alberta

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