Government of Nova Scotianovascotia.ca
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Mortgage Brokers & Lenders Registration

SNSMR regulates certain lenders under the Mortgage Brokers and Lenders Registration Act, which was introduced in Nova Scotia in 1966. Since then, there have been many changes in mortgage brokering in Canada. To respond to these changes, in the fall of 2008, the provincial government started to review the Act and regulations. The review aimed to do the following:

  • examine the mortgage broker and lender industries in Nova Scotia and across Canada to gain an overview of the industries. 
  • consider whether the Nova Scotia government should continue to regulate the industries.identify the best regulatory practices, emerging
  • industry trends, and areas where consumer protection needs to be improved.

As a result of that review, a Discussion paper and Consumer Online Survey were developed and the Department invited feedback on the proposals and questions outlined. The deadline for receipt of input (June 15, 2010) has now closed. The Department is pleased to have the responses both to the Discussion Paper and the online consumer survey and is in the process of reviewing that input.