Your mortgage book made you a reporting entity.
If you lend on, service or administer mortgages, FINTRAC's obligations have applied to you since October 11, 2024. Provasure keeps your program, your borrower KYC evidence and the records the sector now has to keep in one continuously examination-ready file.
Data stored in Canada
Who this covers
What an examiner asks a mortgage lender for
- Client identification by a permitted method, for persons and for entities
- Beneficial ownership at the 25% threshold on corporate borrowers, with evidence, not just a name on a form
- The information record, the mortgage loan record with the borrower's financial capacity and loan terms, and a receipt-of-funds record
- Business-relationship records with ongoing monitoring set by risk rating
- The two-year effectiveness review of your policies, risk assessment and training
- Suspicious transaction and terrorist-property processes, plus large cash and large virtual currency reporting
The receipt-of-funds record is the one that catches lenders out: it is triggered by funds received in any amount in connection with a mortgage, not by a $10,000 threshold. Records have to be kept five years and reach FINTRAC within 30 days of a request.
Same six modules, built for your book
Import your mortgage book, keep your servicing system, and let Provasure build the file alongside it.
Less than one consultant engagement.
Starter at $4,490/yr fits most single-office lenders and administrators. Anyone running more than one business is Enterprise: one head-office view across all of them, scoped on a call.
See the full pricing →The obligations started in 2024. Your file can start today.
Score your mortgage book in two minutes, or talk it through with a founder.