Angry Mortgage Will CRA Act? | EP. 135
Aug 19, 2025
Lauren van den Berg, President & CEO at Mortgage Professionals Canada, dives into the urgent issue of mortgage document fraud in Canada. She discusses the government's delayed action over the past 14 months and the need for stronger measures linking financial documents with the CRA. The conversation highlights the challenges of income verification and the role of FinTrac in combating financial crimes. With a mix of statistics and humor, Lauren emphasizes the impact of fraud on housing affordability and advocates for better transparency in the mortgage industry.
AI Snips
Chapters
Books
Transcript
Episode notes
Fraud Inflates Prices And Damages Credibility
- Mortgage document fraud inflates home prices and harms Canada's financial reputation.
- Lauren van den Berg says fraud reduces affordability and damages international credibility.
The Vancouver Model Of Laundered Real Estate
- Ron describes the 'Vancouver model' where cash was laundered via casinos into real estate.
- He explains how those inflated sales become comparables and drive neighborhood prices up.
Scale Of Laundering Undermines Markets
- CSIS estimates $113 billion is laundered through Canada each year, intensifying housing market distortion.
- Lauren highlights academic research showing large-scale, recurring capital flows into real estate.
