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"Budget 2024 announces the government’s intention to consult with the mortgage industry on making available a tool through the Canada Revenue Agency to complement the existing strategies of financial institutions to verify borrower income for mortgages."
—Page 88 of Budget 2024
—Page 88 of Budget 2024
Mortgage lenders and originators have been waiting for CRA digital income verification since dinosaurs roamed the earth. Or at least it feels that way.
How the government has waited this long to implement such a common-sense lending and anti-fraud improvement is mind-boggling. Seriously, Moses had an easier time getting those tablets.
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