Canadian Press | from huffingtonpost.ca January 28, 2019
OTTAWA - Federal Finance Minister Bill Morneau says he is not considering imposing stress tests on private mortgage lenders.
Morneau is throwing cold water on a recent Reuters report saying the government was looking at applying stricter rules on mortgages provided by private lenders, similar to those Canada has put on federally-regulated banks.
The Liberal government introduced stress tests in recent years to cool the hottest markets - such as Toronto and Vancouver - that have limited some people's ability to qualify for mortgages and reduced the size of new loans.
As a result, some of that business is now going to private lenders, which are beyond the reach of the Office of the Superintendent of Financial Institutions.