{ "article": { "slug": "scotiabank-mortgage-renewal", "url": "/lenders/scotiabank-mortgage-renewal", "title": "Scotiabank mortgage renewal in 2026: what the letter says and what the STEP umbrella means", "datePublished": "2026-07-15", "dateModified": "2026-07-15" }, "ledger_meta": { "ledger_dateModified": "2026-07-10", "ledger_publisher": "RenewalRate.ca", "spec_version": "1.0", "claim_count": 30, "removed_claims": [] }, "claims": [ { "id": "claim-001", "spec_version": "1.0", "text": "Scotiabank tells borrowers they should receive their mortgage renewal statement at least 21 days before the end of the existing mortgage term.", "article_anchor": "Scotiabank says the renewal statement should arrive at least 21 days before the end of your existing mortgage term, matching the federal floor FCAC sets for every bank.", "type": "lender-operational", "confidence": "B", "primary_source": { "name": "Scotiabank", "publisher": "The Bank of Nova Scotia", "url": "https://www.scotiabank.com/ca/en/personal/advice-plus/features/posts.renewing-your-mortgage-essential-tips-and-strategies.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": null, "source_quote": "You should receive your renewal statement at least 21 days before the end of your existing mortgage term.", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "Re-verified 2026-07-10 by independent curl fetch; normalized quote is a contiguous substring of tag-stripped page text. Context check: the article frames the 21-day statement as the federally regulated lender renewal-statement requirement ('your lender is required to provide a renewal statement'), immediately after listing the statement contents (balance at renewal, maturity date, current interest rate, payment frequency, mortgage term). A footnote marker 1 follows the sentence. Fact claims only that Scotiabank tells borrowers this, which the article does.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "LOW" }, { "id": "claim-002", "spec_version": "1.0", "text": "In its Canada Post service disruption notice, Scotiabank advises clients who do not receive their Mortgage Renewal Agreement 30 days before the mortgage maturity date that they can visit their closest branch to request a copy.", "article_anchor": "Scotiabank's notice during the Canada Post disruption told clients who had not received their Mortgage Renewal Agreement 30 days before your mortgage maturity date to visit their closest branch for a copy, which tells you when the bank i...", "type": "lender-operational", "confidence": "B", "primary_source": { "name": "Scotiabank", "publisher": "The Bank of Nova Scotia", "url": "https://www.scotiabank.com/ca/en/personal/notices/canada-post.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": null, "source_quote": "If you do not receive your Mortgage Renewal Agreement 30 days before your mortgage maturity date, you can visit your closest branch to request a copy of your Mortgage Renewal Agreement.", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "Re-verified 2026-07-10; contiguous substring confirmed. Context check: the sentence sits in a 'Mortgage Renewal Agreement' section of the postal-disruption notice, directly after 'if you have a mortgage coming up for renewal, you may experience delays receiving your mortgage renewal agreement.' It documents that agreements are normally mailed and expected ~30 days before maturity, but the fact is now attributed to the disruption-notice context and 'directs' softened to 'advises...can' to match the permissive quote.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "LOW" }, { "id": "claim-003", "spec_version": "1.0", "text": "Scotiabank allows borrowers to renew their mortgage up to 6 months before it expires.", "article_anchor": "You can renew your mortgage up to 6 months before it expires, the widest published early-renewal window among the Big Six.", "type": "lender-operational", "confidence": "B", "primary_source": { "name": "Scotiabank", "publisher": "The Bank of Nova Scotia", "url": "https://www.scotiabank.com/ca/en/personal/mortgages/mortgage-renewal.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": null, "source_quote": "You can renew your mortgage up to 6 months before it expires", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "Re-verified 2026-07-10; contiguous substring confirmed. Context check confirmed on-page continuation: ', without a prepayment charge. This could save you money if interest rates go up in the future.' under a 'Renew early' heading. Corroborated by Advice+ article posts.how-interest-rate-cuts-impact-your-mortgage.html per researcher (180 days / 6 months).", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "LOW" }, { "id": "claim-004", "spec_version": "1.0", "text": "Depending on the options selected for the mortgage, Scotiabank borrowers can repay up to 10%, 15% or 20% of the original principal amount at any time during each year of the term.", "article_anchor": "Depending on the options selected, Scotiabank lets you repay up to 10%, 15% or 20% of the original principal amount during each year of the term.", "type": "lender-operational", "confidence": "B", "primary_source": { "name": "Scotiabank", "publisher": "The Bank of Nova Scotia", "url": "https://www.scotiabank.com/ca/en/personal/advice-plus/features/posts.how-to-pay-off-your-mortgage-faster-and-own-your-home.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": null, "source_quote": "you can choose to repay up to 10%, 15% or 20% of the original principal amount of your mortgage at any time during each year of the term", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "Re-verified 2026-07-10; contiguous substring confirmed. The conditional in fact_text is also on-page: the extended string 'with Scotiabank, depending on the options you select for your mortgage, you can choose to repay up to 10%, 15% or 20%...' passed the same mechanical contiguity check, so the 'depending on the options selected' clause is sourced, not researcher-added. Same 10/15/20 language appears on understanding-mortgage-prepayments-charges.html per researcher.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "LOW" }, { "id": "claim-005", "spec_version": "1.0", "text": "Scotiabank's Match-a-Payment privilege lets eligible borrowers double a regular mortgage payment of principal and interest on any regular payment date with no fee or prepayment charge.", "article_anchor": "Match-a-Payment: double a regular payment on any regular payment date, no fee", "type": "lender-operational", "confidence": "B", "primary_source": { "name": "Scotiabank", "publisher": "The Bank of Nova Scotia", "url": "https://www.scotiabank.com/ca/en/personal/advice-plus/features/posts.how-to-pay-off-your-mortgage-faster-and-own-your-home.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": null, "source_quote": "you might be eligible for Match-a-Payment, which allows you to double your current mortgage payment of principal and interest on any regular payment date without having to pay a fee or prepayment charge", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "Re-verified 2026-07-10; contiguous substring confirmed. Context check: preceded on-page by 'depending on the type of Scotiabank mortgage you have,' (extended string also passed mechanical contiguity check), so the 'eligible borrowers' conditional in fact_text matches the source's conditional framing.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "LOW" }, { "id": "claim-006", "spec_version": "1.0", "text": "For Scotiabank fixed rate mortgages, the typical prepayment charge to pay out before the end of term is the greater of 3 months interest or the Interest Rate Differential.", "article_anchor": "Greater of 3 months interest or the Interest Rate Differential", "type": "lender-operational", "confidence": "B", "primary_source": { "name": "Scotiabank", "publisher": "The Bank of Nova Scotia", "url": "https://www.scotiabank.com/content/dam/scotiabank/canada/en/documents/mortgages/What_you_need_to_know_Mortgages_and_Mortgage-Prepayment-Charges_0718.pdf", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": null, "source_quote": "Typical prepayment charges to payout prior to the end of the term would be the greater of 3 months interest or Interest Rate Differential.", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "Re-verified 2026-07-10; contiguous substring of pdftotext extraction confirmed. Context check: the sentence sits in the PDF's mortgage type comparison table under the Fixed Rate row ('Your rate and payment amount is fixed for the term of your mortgage. Typical prepayment charges...'), with Variable Rate handled in a separate row, so the fixed-rate scoping in fact_text is supported by document structure. PDF also states the fixed rate closed prepayment charge is the higher of (A) 3 months' interest and (B) IRD.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "LOW" }, { "id": "claim-007", "spec_version": "1.0", "text": "Scotiabank's IRD comparison rate (the 'Current Interest Rate') is its current posted interest rate for a new fixed rate closed term mortgage with the term closest to the remaining term of the existing mortgage.", "article_anchor": "Scotiabank defines its comparison rate as the current posted interest rate offered by us for a new fixed rate closed term mortgage with a term that is closest to the remaining term of your existing mortgage.", "type": "lender-operational", "confidence": "B", "primary_source": { "name": "Scotiabank", "publisher": "The Bank of Nova Scotia", "url": "https://www.scotiabank.com/content/dam/scotiabank/canada/en/documents/mortgages/What_you_need_to_know_Mortgages_and_Mortgage-Prepayment-Charges_0718.pdf", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": null, "source_quote": "The Current Interest Rate is the current posted interest rate offered by us for a new fixed rate closed term mortgage with a term that is closest to the remaining term of your existing mortgage", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "Re-verified 2026-07-10; contiguous substring of pdftotext extraction confirmed. Quote fully contains every element of fact_text. PDF continues '(rounded up if exactly between 2 terms)'. Calculator at dmts.scotiabank.com corroborates with 'Current Posted Rate for Comparable Term' field (seen on the fetched calculator page).", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "LOW" }, { "id": "claim-008", "spec_version": "1.0", "text": "In Scotiabank's IRD calculation, the posted comparison rate is discounted by any rate discount the borrower received on the existing mortgage.", "article_anchor": "Before the comparison runs, the Current Interest Rate will be discounted by any rate discount you received on your existing mortgage.", "type": "lender-operational", "confidence": "B", "primary_source": { "name": "Scotiabank", "publisher": "The Bank of Nova Scotia", "url": "https://www.scotiabank.com/content/dam/scotiabank/canada/en/documents/mortgages/What_you_need_to_know_Mortgages_and_Mortgage-Prepayment-Charges_0718.pdf", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": null, "source_quote": "the Current Interest Rate will be discounted by any rate discount you received on your existing mortgage", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "Re-verified 2026-07-10; contiguous substring of pdftotext extraction confirmed. Fact_text stays within the quote; the interpretive point (posted-minus-discount widens the differential vs contract-rate IRD) is analysis kept out of fact_text. Calculator page corroborates with 'Discount Received Applied to Current Posted Rate' field.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "LOW" }, { "id": "claim-009", "spec_version": "1.0", "text": "Scotiabank offers two types of mortgage charges, collateral or conventional.", "article_anchor": "Two charge types: collateral or conventional", "type": "lender-operational", "confidence": "B", "primary_source": { "name": "Scotiabank", "publisher": "The Bank of Nova Scotia", "url": "https://www.scotiabank.com/ca/en/personal/mortgages/conventional-vs-collateral-mortgage.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": null, "source_quote": "Scotiabank offers two types of mortgage charges: Collateral or Conventional.", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "Re-verified 2026-07-10; contiguous substring confirmed. Exact match between fact and quote. Researcher's supporting quotes about registration in favour of The Bank of Nova Scotia (collateral) vs Scotia Mortgage Corporation (conventional) are on the same page.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "LOW" }, { "id": "claim-010", "spec_version": "1.0", "text": "Per Scotiabank's own brochure, a borrower with a Scotia Total Equity Plan (STEP) product who wishes to register a second charge will be asked by Scotiabank to close the STEP.", "article_anchor": "Hold a STEP product and want a second charge on title, and Scotiabank will request you to close your STEP; the umbrella, more than the rate, is the real renewal decision.", "type": "lender-operational", "confidence": "B", "primary_source": { "name": "Scotiabank", "publisher": "The Bank of Nova Scotia", "url": "https://www.scotiabank.com/ca/en/files/16/04/1350513_03-15-Conventional-vs-Collateral.pdf", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": null, "source_quote": "If you have a Scotia Total Equity Plan (STEP) product with Scotiabank and you wish to register a second charge, Scotiabank will request you to close your STEP.", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "Re-verified 2026-07-10; contiguous substring of pdftotext extraction confirmed. Quote fully supports fact_text word for word. Caution for editorial use: filename suggests a 2015-era brochure (03-15), though it remains live on scotiabank.com and is linked from the conventional-vs-collateral page per researcher.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "LOW" }, { "id": "claim-011", "spec_version": "1.0", "text": "Under the Scotia Total Equity Plan, borrowers can initially borrow up to 80% of the home's value, including up to 65% for line of credit products.", "article_anchor": "Under STEP you can initially borrow up to 80% of the value of your home, including up to 65% for line of credit products.", "type": "lender-operational", "confidence": "B", "primary_source": { "name": "Scotiabank", "publisher": "The Bank of Nova Scotia", "url": "https://www.scotiabank.com/ca/en/personal/mortgages/scotia-total-equity-plan-step.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": null, "source_quote": "You can initially borrow up to 80% of the value of your home, including up to 65% for line of credit products.", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "Re-verified 2026-07-10; contiguous substring confirmed. Trailing 'under one plan' removed from fact_text because it was not inside the verbatim quote; the page does separately state 'All it takes is one application' and 'Choose up to 3 mortgages' (seen in fetched page text), and 'After setup, the STEP will gradually decrease to 65% across a 25-year period.'", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "LOW" }, { "id": "claim-012", "spec_version": "1.0", "text": "Scotiabank's standard closed mortgage schedule contains a Portable Mortgage/Blended Rate provision: holders of a closed fixed rate mortgage may transfer the existing mortgage loan balance and remaining term to a new home.", "article_anchor": "It contains a portability provision: holders of a closed fixed rate mortgage may transfer your existing mortgage loan balance and the remaining term to a new home.", "type": "lender-operational", "confidence": "B", "primary_source": { "name": "Scotiabank", "publisher": "The Bank of Nova Scotia", "url": "https://www.scotiabank.com/ca/common/pdf/mortgage/schedule_a_closed_mortgage.pdf", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": null, "source_quote": "you may transfer your existing mortgage loan balance and the remaining term to a new home", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "Re-verified 2026-07-10; contiguous substring of pdftotext extraction confirmed. Context independently verified: the extended string 'If you have a closed fixed rate mortgage, you may transfer your existing mortgage loan balance and the remaining term to a new home' also passed the mechanical contiguity check, and it sits under the 'Portable Mortgage/Blended Rate' heading, so both the heading claim and the closed-fixed-rate scoping in fact_text are sourced. PDF continues: 'You must apply for a new mortgage and meet all our normal qualifications.'", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "LOW" }, { "id": "claim-013", "spec_version": "1.0", "text": "When a Scotiabank closed fixed rate mortgage is combined with additional funds and the term extended, the new loan's rate is a blending of the existing rate and the rate applicable to the extended term.", "article_anchor": "When you need more money mid-term, the same schedule permits combining the existing balance with new funds, where the interest rate on the new loan will be a blending of the rate you were paying and the rate for the extended term.", "type": "lender-operational", "confidence": "B", "primary_source": { "name": "Scotiabank", "publisher": "The Bank of Nova Scotia", "url": "https://www.scotiabank.com/ca/common/pdf/mortgage/schedule_a_closed_mortgage.pdf", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": null, "source_quote": "The interest rate on the new loan will be a blending of the rate you were paying on the amount transferred from your existing loan", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "Re-verified 2026-07-10; contiguous substring of pdftotext extraction confirmed. The full sentence including '...and the rate applicable to the extended term of the new loan and the additional amount' independently passed the mechanical contiguity check, so the second half of fact_text is sourced from contiguous text on the same page, preceded by 'you may combine your existing loan balance with an additional amount and extend your term' under the 'Portable Mortgage/Blended Rate' heading.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "LOW" }, { "id": "claim-014", "spec_version": "1.0", "text": "Scotiabank states, in its Canada Post service disruption notice, that if it does not hear from the borrower before the maturity date, the mortgage is automatically renewed into a 6-month fixed rate closed term.", "article_anchor": "Do nothing and Scotiabank states your mortgage will be automatically renewed into a 6-month fixed rate closed term.", "type": "lender-operational", "confidence": "B", "primary_source": { "name": "Scotiabank", "publisher": "The Bank of Nova Scotia", "url": "https://www.scotiabank.com/ca/en/personal/notices/canada-post.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": null, "source_quote": "if we do not hear from you before your maturity date, your mortgage will be automatically renewed into a 6-month fixed rate closed term", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "Re-verified 2026-07-10; contiguous substring confirmed. The sentence itself is unconditional ('Please note if we do not hear from you...'), and matches the Big-6 pattern of rolling silent borrowers into a short closed term, but its only located source is the postal-disruption notice, so fact_text now attributes the statement to that notice rather than presenting it as a freestanding policy page. If a general-policy source is needed, corroborate via the renewal statement or Help Centre before shipping an unattributed version.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "LOW" }, { "id": "claim-015", "spec_version": "1.0", "text": "Scotiabank mortgage holders can complete their renewal online in minutes after exploring their options.", "article_anchor": "On its renewal page, Scotiabank promotes the ability to renew online in minutes after exploring your options.", "type": "lender-operational", "confidence": "B", "primary_source": { "name": "Scotiabank", "publisher": "The Bank of Nova Scotia", "url": "https://www.scotiabank.com/ca/en/personal/mortgages/mortgage-renewal.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": null, "source_quote": "After exploring your mortgage options, renew online in minutes.", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "Re-verified 2026-07-10; contiguous substring confirmed. Context check: sits under a 'Renew online' option alongside 'Book an appointment' and a Mortgage Specialist line (1-877-303-8879, hours listed), plus a video tour of the online renewal process, matching researcher notes.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "LOW" }, { "id": "claim-016", "spec_version": "1.0", "text": "Scotiabank publishes a Mortgage Prepayment Charge Calculator; for partial prepayments it applies a standard prepayment allowance of 15% of the original principal balance per year.", "article_anchor": "Even Scotiabank's own prepayment calculator hedges, noting that for partial prepayments it applies a standard prepayment allowance of 15% of the original principal balance of your mortgage per year as a working assumption rather than you...", "type": "lender-operational", "confidence": "B", "primary_source": { "name": "Scotiabank", "publisher": "The Bank of Nova Scotia", "url": "https://dmts.scotiabank.com/tools/prepayment/en/index.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": null, "source_quote": "this mortgage prepayment charge calculator applies a standard prepayment allowance of 15% of the original principal balance of your mortgage per year", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "Re-verified 2026-07-10; contiguous substring confirmed. The 'for partial prepayments' scoping in fact_text is sourced: the extended string 'for partial prepayments, this mortgage prepayment charge calculator applies a standard prepayment allowance of 15%...' also passed the mechanical contiguity check. Page immediately adds 'Your actual prepayment allowance will depend on the mortgage solution you selected for the current mortgage term and any partial prepayments you have already made this year' - the 15% is the calculator's assumption, not every borrower's contractual allowance; keep that framing on-site. Results not applicable to terms that began prior to January 2010 or specialty programs per page.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "LOW" }, { "id": "claim-018", "spec_version": "1.0", "text": "FCAC states that if your mortgage contract is with a federally regulated financial institution, such as a bank, the lender must provide you with a renewal statement at least 21 days before the end of the existing term.", "article_anchor": "FCAC requires every federally regulated financial institution to provide the statement at least 21 days before the end of the existing term, and the Financial Consumer Protection Framework Regulations carry the same deadline as prescribe...", "type": "regulation", "confidence": "A", "primary_source": { "name": "FCAC consumer guidance", "publisher": "Financial Consumer Agency of Canada (Government of Canada)", "url": "https://www.canada.ca/en/financial-consumer-agency/services/mortgages/renew-mortgage.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": "https://web.archive.org/web/20260430215234/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/renew-mortgage.html", "source_quote": "such as a bank, the lender must provide you with a renewal statement at least 21 days before the end of the existing term", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "MECHANICAL PASS 2026-07-10 (independent fetch, normalized contiguous substring, 1 occurrence). Lead-in verified live: full sentence begins 'If your mortgage contract is with a federally regulated financial institution, such as a bank, ...' AMENDED: fact_text previously said 'federally regulated lender'; page says 'federally regulated financial institution'. Page title confirmed 'Renewing your mortgage - Canada.ca'.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "MODERATE" }, { "id": "claim-019", "spec_version": "1.0", "text": "Under the Financial Consumer Protection Framework Regulations, the prescribed renewal information must be disclosed by providing a disclosure statement at least 21 days before the specified renewal date.", "article_anchor": "FCAC requires every federally regulated financial institution to provide the statement at least 21 days before the end of the existing term, and the Financial Consumer Protection Framework Regulations carry the same deadline as prescribe...", "type": "regulation", "confidence": "A", "primary_source": { "name": "Justice Laws consolidated statute", "publisher": "Government of Canada (Justice Laws Website)", "url": "https://laws-lois.justice.gc.ca/eng/regulations/SOR-2021-181/FullText.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": null, "source_quote": "The prescribed information must be disclosed by providing a disclosure statement at least 21 days before the specified date.", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "MECHANICAL PASS 2026-07-10; exactly 1 occurrence of this sentence on the FullText page, and context confirms it sits under marginal note 'Time of disclosure' as s. 45(2), immediately after the s. 45(1)(a)-(d) renewal list. 'Specified renewal date' wording supported by s. 45(1) scope: 'a credit agreement that will be renewed on a specified date'. SOR/2021-181, made under Bank Act s. 627.89(6). No Wayback snapshot pinned; pin via pin-wayback.py before publish.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "MODERATE" }, { "id": "claim-020", "spec_version": "1.0", "text": "The statutory renewal disclosure must include a statement that no change that increases the cost of borrowing will be made to the credit agreement between the day on which the statement is disclosed and the day on which the credit agreement will be renewed.", "article_anchor": "The statutory disclosure must include a statement that no change that increases the cost of borrowing will be made between the day the statement is disclosed and the day the agreement renews.", "type": "regulation", "confidence": "A", "primary_source": { "name": "Justice Laws consolidated statute", "publisher": "Government of Canada (Justice Laws Website)", "url": "https://laws-lois.justice.gc.ca/eng/regulations/SOR-2021-181/FullText.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": null, "source_quote": "no change that increases the cost of borrowing will be made to the credit agreement between the day on which the statement is disclosed by the institution and the day on which the credit agreement will be renewed", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "MECHANICAL PASS 2026-07-10; 1 occurrence, context confirms it is s. 45(1)(c) introduced by 'the following information is prescribed information in relation to a credit agreement that will be renewed on a specified date: ... (c) a statement that no change...'. AMENDED: 'commitment' replaced with the regulation's own word 'statement'; the reg prescribes disclosure of a statement, it does not use the word commitment. s. 45(1)(d) later-of rule also confirmed in context pull. No Wayback snapshot; pin before publish.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "MODERATE" }, { "id": "claim-021", "spec_version": "1.0", "text": "If the lender will not renew your mortgage, FCAC states the lender must notify you 21 days before the end of your term.", "article_anchor": "In the rarer case where the bank walks away, FCAC says the lender must notify you 21 days before the end of your term if it will not renew.", "type": "regulation", "confidence": "A", "primary_source": { "name": "FCAC consumer guidance", "publisher": "Financial Consumer Agency of Canada (Government of Canada)", "url": "https://www.canada.ca/en/financial-consumer-agency/services/mortgages/renew-mortgage.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": "https://web.archive.org/web/20260504005531/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/renew-mortgage.html", "source_quote": "Your lender must also notify you 21 days before the end of your term if they won't renew your mortgage.", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "MECHANICAL PASS 2026-07-10. Quote is a complete sentence and fully supports fact_text; sentence appears directly after the 21-day renewal-statement sentence. Statutory backing per researcher: SOR/2021-181 s. 46 (non-renewal) confirmed present on the FullText page in my context pull ('marginal note: non-renewal 46 (1) if an institution does not intend to renew a credit agreement...').", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "MODERATE" }, { "id": "claim-022", "spec_version": "1.0", "text": "FCAC warns that if you don't take action, the renewal of your mortgage term may be automatic, meaning you may not get the best interest rate and conditions; if your lender plans on automatically renewing your mortgage, it will say so in the renewal statement.", "article_anchor": "FCAC's warning is conditional on exactly this: take no action and the renewal of your mortgage term may be automatic, meaning you may not get the best interest rate and conditions.", "type": "regulation", "confidence": "A", "primary_source": { "name": "FCAC consumer guidance", "publisher": "Financial Consumer Agency of Canada (Government of Canada)", "url": "https://www.canada.ca/en/financial-consumer-agency/services/mortgages/renew-mortgage.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": "https://web.archive.org/web/20260430215234/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/renew-mortgage.html", "source_quote": "the renewal of your mortgage term may be automatic. This means you may not get the best interest rate and conditions. If your lender plans on automatically renewing your mortgage, it will say so in the renewal statement.", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "MECHANICAL PASS 2026-07-10. AMENDED: added the conditional lead-in 'if you don't take action,' which immediately precedes the quote on the live page (verified 2026-07-10: 'if you don't take action, the renewal of your mortgage term may be automatic.'); omitting it presented conditional source language as broader than stated. Lead-in is page context, not inside the quote; documented here per the same pattern as regulatory-001.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "MODERATE" }, { "id": "claim-023", "spec_version": "1.0", "text": "FCAC guidance tells borrowers to negotiate with their current lender at renewal; you may qualify for a discounted interest rate that is lower than the rate quoted in your renewal letter.", "article_anchor": "FCAC's guidance is unusually blunt for a regulator: negotiate with your current lender, because you may qualify for a discounted interest rate that is lower than the rate quoted in your renewal letter.", "type": "regulation", "confidence": "A", "primary_source": { "name": "FCAC consumer guidance", "publisher": "Financial Consumer Agency of Canada (Government of Canada)", "url": "https://www.canada.ca/en/financial-consumer-agency/services/mortgages/renew-mortgage.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": "https://web.archive.org/web/20260430215234/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/renew-mortgage.html", "source_quote": "Negotiate with your current lender. You may qualify for a discounted interest rate that is lower than the rate quoted in your renewal letter.", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "MECHANICAL PASS 2026-07-10. Adjacent sentence also confirmed live in my context pull: 'tell your lender about offers you received from other financial institutions or mortgage brokers. you may need to provide proof of the offers you receive.'", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "MODERATE" }, { "id": "claim-024", "spec_version": "1.0", "text": "FCAC states the prepayment penalty will usually be the higher of an amount equal to 3 months' interest on what you still owe or the interest rate differential (IRD).", "article_anchor": "The penalty will usually be the higher of an amount equal to 3 months' interest on what you still owe or the interest rate differential.", "type": "regulation", "confidence": "A", "primary_source": { "name": "FCAC consumer guidance", "publisher": "Financial Consumer Agency of Canada (Government of Canada)", "url": "https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": "https://web.archive.org/web/20260430213639/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html", "source_quote": "The prepayment penalty will usually be the higher of: an amount equal to 3 months' interest on what you still owe the interest rate differential ( IRD )", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "MECHANICAL PASS 2026-07-10 with the exact list-item spacing given (no punctuation between 'owe' and 'the interest rate differential'; '( IRD )' spacing literal). Researcher's warning stands: semicolon variants of this quote fail against the live page. Page title confirmed 'Mortgage fees: Prepayment penalties - Canada.ca'.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "MODERATE" }, { "id": "claim-025", "spec_version": "1.0", "text": "Lenders will usually use the IRD calculation when the interest rate on your mortgage is higher than the current interest rate and you signed your current mortgage contract less than 5 years ago.", "article_anchor": "Lenders usually reach for the IRD calculation when your rate is above current rates and you signed your current mortgage contract less than 5 years ago.", "type": "regulation", "confidence": "A", "primary_source": { "name": "FCAC consumer guidance", "publisher": "Financial Consumer Agency of Canada (Government of Canada)", "url": "https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": "https://web.archive.org/web/20260430213639/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html", "source_quote": "The lender will usually use the IRD calculation if: the interest rate on your mortgage is higher than the current interest rate and you signed your current mortgage contract less than 5 years ago", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "MECHANICAL PASS 2026-07-10. Quote includes the 'if:' lead-in and both list-item conditions as contiguous visible text; fact_text mirrors both conditions and the conditional 'usually'.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "MODERATE" }, { "id": "claim-026", "spec_version": "1.0", "text": "FCAC's IRD description includes a second-rate calculation option based on the current posted rate for a term with a similar length minus the discount you were originally offered.", "article_anchor": "FCAC's own list of IRD inputs includes the current posted rate for a term with a similar length minus the discount you were originally offered, which is the Scotiabank method almost word for word.", "type": "regulation", "confidence": "A", "primary_source": { "name": "FCAC consumer guidance", "publisher": "Financial Consumer Agency of Canada (Government of Canada)", "url": "https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": "https://web.archive.org/web/20260430213639/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html", "source_quote": "the current posted rate for a term with a similar length minus the discount you were originally offered", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "MECHANICAL PASS 2026-07-10. AMENDED: removed the clause 'which is the posted-rate methodology pattern documented on Big Six bank penalty pages' — a cross-source claim about bank pages that this FCAC URL and quote do not support; any Big Six methodology claim must carry its own lender-page citation. Live page context (verified 2026-07-10) lists TWO second-rate options: 'the current posted rate for a term with a similar length' OR that rate 'minus the discount you were originally offered', and two first-rate options ('the posted rate at the time you signed your mortgage contract' / 'your current rate or discounted rate as described in your contract'). Do not present the quoted option as FCAC's only described method.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "MODERATE" }, { "id": "claim-027", "spec_version": "1.0", "text": "Federally regulated financial institutions, like banks, have a prepayment penalty calculator on their website; FCAC directs borrowers to visit their bank's website to get an estimate of the cost.", "article_anchor": "Do not estimate any of this by hand. Federally regulated financial institutions, like banks, have a prepayment penalty calculator on their website, and Scotiabank's is linked from the ledger entry above. Run it before you sign anything, ...", "type": "regulation", "confidence": "A", "primary_source": { "name": "FCAC consumer guidance", "publisher": "Financial Consumer Agency of Canada (Government of Canada)", "url": "https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": null, "source_quote": "Federally regulated financial institutions, like banks, have a prepayment penalty calculator on their website. You can visit your bank's website to get an estimate of your cost.", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "MECHANICAL PASS 2026-07-10 against the live page with the NEW wording ('visit your bank's website to get an estimate of your cost'). Researcher's drift warning is corroborated: the old ledger variant ('visit your lender's website to find their calculator') is not on the live page. Wayback correctly left null since prior snapshots carry the old wording; pin a fresh snapshot before publish and fix the stale ledger entry (ird-mortgage-penalty-canada-explained claim-020).", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "MODERATE" }, { "id": "claim-028", "spec_version": "1.0", "text": "Prepayment privileges vary from lender to lender; FCAC tells borrowers to check the terms and conditions of their mortgage contract.", "article_anchor": "FCAC's baseline advice applies here: prepayment privileges vary from lender to lender, so check your own mortgage contract rather than any bank's marketing page.", "type": "regulation", "confidence": "A", "primary_source": { "name": "FCAC consumer guidance", "publisher": "Financial Consumer Agency of Canada (Government of Canada)", "url": "https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": "https://web.archive.org/web/20260430213639/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html", "source_quote": "Prepayment privileges vary from lender to lender. Check the terms and conditions of your mortgage contract", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "MECHANICAL PASS 2026-07-10. AMENDED: dropped 'for the specific allowed amounts' from fact_text — the quote ends at 'mortgage contract'. The live page does continue 'to find out: if your lender allows you to make prepayments... if there's a minimum or a maximum amount that you're allowed to prepay... what fees or penalties apply' (verified 2026-07-10), so the amounts point is true but sits outside the quote; extend the quote if that detail is needed on-page. Federal baseline stands: per-lender percentages must come from each lender's own pages.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "MODERATE" }, { "id": "claim-029", "spec_version": "1.0", "text": "FCAC explains that with a collateral charge mortgage you may secure multiple loans with your lender, including a mortgage and a line of credit, and the lender may register a charge higher than the amount of your mortgage.", "article_anchor": "FCAC's description of a collateral charge explains the design: you may secure multiple loans with your lender, and the lender may register a charge higher than the amount of your mortgage.", "type": "regulation", "confidence": "A", "primary_source": { "name": "FCAC consumer guidance", "publisher": "Financial Consumer Agency of Canada (Government of Canada)", "url": "https://www.canada.ca/en/financial-consumer-agency/services/mortgages/choose-mortgage.html", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": "http://web.archive.org/web/20260501022119/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/choose-mortgage.html", "source_quote": "With a collateral charge mortgage, you may secure multiple loans with your lender. This includes a mortgage and a line of credit. The lender may register a charge higher than the amount of your mortgage.", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "MECHANICAL PASS 2026-07-10. Quote is three complete sentences fully supporting fact_text. Page title confirmed 'Choosing a mortgage that is right for you - Canada.ca'. Caveat retained from researcher: the Wayback snapshot's content has not been independently checked against this quote.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "MODERATE" }, { "id": "claim-030", "spec_version": "1.0", "text": "OSFI's guidance letter dated November 21, 2024 exempts uninsured mortgage straight switches from the prescribed MQR.", "article_anchor": "OSFI's guidance letter dated November 21, 2024 exempted uninsured straight switches from the stress test's prescribed floor.", "type": "regulation", "confidence": "A", "primary_source": { "name": "OSFI guidance", "publisher": "Office of the Superintendent of Financial Institutions", "url": "https://www.osfi-bsif.gc.ca/en/guidance/guidance-library/osfi-exempts-uninsured-mortgage-straight-switches-prescribed-mqr-implements-portfolio-lti-limits", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": "https://web.archive.org/web/20260504004656/https://www.osfi-bsif.gc.ca/en/guidance/guidance-library/osfi-exempts-uninsured-mortgage-straight-switches-prescribed-mqr-implements-portfolio-lti-limits", "source_quote": "OSFI exempts uninsured mortgage straight switches from the prescribed MQR and implements portfolio LTI limits Information Publication type Letter Category Sound Business and Financial Practices Date November 21, 2024", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "MECHANICAL PASS 2026-07-10; the title-plus-metadata run is contiguous in tag-stripped visible text exactly as claimed (confirmed in context pull: '...portfolio lti limits information publication type letter category sound business and financial practices date november 21, 2024 sector banks...'). Quote contains the date and 'Letter' publication type, supporting 'guidance letter dated November 21, 2024'. Researcher's warning about the old ledger's non-contiguous editorial parenthetical is consistent with this.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "MODERATE" }, { "id": "claim-031", "spec_version": "1.0", "text": "Under this change, OSFI no longer prescribes the minimum qualifying rate (MQR) that it expects federally regulated financial institutions to apply when uninsured mortgage borrowers switch to a new institution at renewal.", "article_anchor": "In its words, OSFI will no longer prescribe the minimum qualifying rate (MQR) that it expects federally regulated financial institutions to apply when uninsured mortgage borrowers switch to a new institution at renewal.", "type": "regulation", "confidence": "A", "primary_source": { "name": "OSFI guidance", "publisher": "Office of the Superintendent of Financial Institutions", "url": "https://www.osfi-bsif.gc.ca/en/guidance/guidance-library/osfi-exempts-uninsured-mortgage-straight-switches-prescribed-mqr-implements-portfolio-lti-limits", "datePublished": "n.d.", "vintage": "2026-07-10", "verbatim_check": true }, "wayback_url": "https://web.archive.org/web/20260504004656/https://www.osfi-bsif.gc.ca/en/guidance/guidance-library/osfi-exempts-uninsured-mortgage-straight-switches-prescribed-mqr-implements-portfolio-lti-limits", "source_quote": "Effective today, OSFI will no longer prescribe the minimum qualifying rate (MQR) that it expects federally regulated financial institutions (institutions) to apply when uninsured mortgage borrowers switch to a new institution at renewal.", "math_derivation": null, "evidence": null, "attestation": null, "inference_logic": "MECHANICAL PASS 2026-07-10. 'Effective today' anchors to the letter date November 21, 2024 established by regulatory-013 on the same page. When citing on-site, always pair with regulatory-013 so the effective date is sourced; do not date the change from this quote alone.", "derivation_chain": null, "conditions": null, "next_review_due": "2027-01-10", "last_verified": "2026-07-10", "history": [ { "date": "2026-07-10", "change": "Initial entry. Verbatim mechanically confirmed via curl fetch (Chrome UA, lint normalization) during the 2026-07-10 lender-cluster build, then independently re-fetched and semantically checked by an adversarial verification pass before drafting." } ], "evidence_grade": "MODERATE" } ] }