What is the federal governing body overseeing certain mortgage activities that are not regulated by the provincial regulator?

The correct answer is the Office of the Superintendent of Financial Institutions (OSFI). OSFI is the federal agency responsible for regulating and supervising federally regulated financial institutions, including banks and insurance companies. It ensures the safety and soundness of these institutions, which can influence mortgage activities that may not fall under provincial regulation.

In Canada, while provinces have their regulatory bodies to oversee various aspects of the financial market, OSFI plays a crucial role at the national level, particularly in enforcing federal standards and regulations. This includes ensuring that mortgage lending practices of federally chartered institutions align with national banking regulations and consumer protection measures.

Understanding the role of OSFI is important for anyone in the mortgage industry, as it ensures that all aspects of mortgage activities, particularly those that may have federal implications, are governed by stringent regulations that protect consumers and maintain market confidence.

Other choices refer to different organizations with distinct roles that do not encompass the broad regulatory reach of OSFI regarding the oversight of federally regulated institutions and their mortgage activities.