Mortgage Insurance Disclosure (Trust and Loan Companies, Retail Associations, Canadian Insurance Companies and Canadian Societies) Regulations (SOR/2010-69)

4 Every institution that provides residential mortgages to borrowers and charges them an amount for mortgage insurance must

• (a) maintain and make available at each of its branches or offices and at each of its points of service where residential mortgages are offered in Canada and on each of its websites through which residential mortgages are offered in Canada, the information in respect of mortgage insurance referred to in sections 5 and 6, paragraphs 7(a), 8(a) and 9(a) and subparagraphs 10(a)(i) and (b)(i) for each insurer with which it has entered into an arrangement to receive payments or benefits;

• (b) provide to customers and to the public, on request, the information referred to in sections 5 and 6 and paragraphs 7(a), 8(a) and 9(a) and subparagraphs 10(a)(i) and (b)(i) for each insurer with which it has entered into an arrangement to receive payments or benefits; and

• (c) provide to each borrower that the institution charges for mortgage insurance, in a separate document, at or before the time that they enter into the mortgage agreement,

  • (i) the information referred to in sections 5 to 10 as it applies to that particular borrower,

  • (ii) the total of the amounts referred to in paragraphs 7(a), 8(c) and 9(c) and subparagraphs 10(a)(iii) and (b)(iii) as they apply to that particular borrower, and

  • (iii) the total of the percentages referred to in paragraphs 7(b), 8(b) and 9(b) and subparagraphs 10(a)(ii) and (b)(ii) as they apply to that particular borrower.