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If a mortgage broker "shops" a mortgage loan application among multiple lenders, is each lending institution required to provide the special information booklet? At what point in time is the booklet required to be provided?

The Act provides no guidance on these points. It is the Director's opinion, however, that lenders obtaining mortgage loan applications from brokers should provide the special information booklet to the applicant at the time the lender obtains an application from a mortgage broker. However, if the lender(s) can provide evidence that the special information booklet was provided at the time of application by the mortgage broker, the Director will presume the lender complied with the Act.