Who is typically responsible for ensuring compliance with mortgage regulations in Manitoba?

The Manitoba Securities Commission (MSC) plays a crucial role in ensuring compliance with mortgage regulations in Manitoba. This provincial regulatory authority oversees various aspects of financial services, including mortgage brokers and lenders, to ensure they adhere to established laws and regulations. Their responsibilities include monitoring practices, enforcing compliance, and safeguarding consumers against unethical practices in the mortgage industry.

While individual mortgage brokers, borrowers, and lenders also have specific roles and responsibilities, it is ultimately the Manitoba Securities Commission that provides oversight and regulatory enforcement to uphold the standards of the mortgage industry. This means they are the ones primarily tasked with ensuring that all parties involved are acting in accordance with the law.