Can I use the old Statement of Mortgage Form to disclose information?
The Statement of Mortgage Form is only applicable until December 31, 2008. After this date, Ontario Regulation 191/08 – Cost of Borrowing and Disclosure to Borrowers, which has additional disclosure requirements, comes into effect. The old Statement of Mortgage Form would require significant modification to be suitable. Mortgage Brokerage industry service providers are currently developing new cost of borrowing disclosure statements. You may want to contact them about the forms.
