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The Office of the Superintendent of Financial Institutions Canada (OSFI) yesterday published the final version of its Residential Mortgage Underwriting Practices and Procedures, which will come into effect January 1, 2018.

As it applies to all federally regulated mortgages, the changes to Guideline B-20 focus on the "minimum qualifying rate for uninsured mortgages, expectations around loan-to-value (LTV) frameworks and limits, and restrictions to transactions designed to circumvent those LTV limits."