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Please visit our Open House at 603 1488 HORNBY ST in Vancouver.
Open House on Saturday, July 23, 2016 3:00PM - 5:00PM
Welcome to Pacific Promenade! This one of a kind corner unit Penthouse Villa is perfect for families or professionals. This suite features 3 bedrooms, 2 bathrooms, great chef's kitchen, concrete floors with loft style barn doors, skylight, and in-suite storage. The vast open plan living is wrapped with outdoor living on three sides including a private patio entrance. South West facing all conveniently located in the " Beach District" steps to seawall, sea-bus, restaurants, aquatic center, and shopping. Along with amazing amenities this unit also comes with two parking and a storage locker. PUBLIC OPEN HOUSE JULY 23RD 3-5PM.
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Please visit our Open House at 1366 16TH ST E in North Vancouver.
Open House on Sunday, July 24, 2016 2:00PM - 4:00PM
Fantastic family home in Westlynn! Completely rebuilt in 2013 right down from the studs. This 4 bed/3 bath home features 12 foot ceilings, birch hardwood and tile throughout the open floor plan. Gourmet kitchen with Viking appliances, granite counters and skylights. Impeccable location on dead end street for ultimate privacy sitting on 11,000ft flat lot with a garden and shed. Close to shopping, restaurants, schools, transit and Lynn Valley Canyon. Bonus! home comes with separate one bedroom legal suite. Call Today for a private showing. OPEN HOUSE JULY 24TH 2-4PM.
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I have listed a new property at 1701 1000 BEACH AVE in Vancouver.
Prestigious 1000 Beach Avenue! Spectacular 1,335 sqft 2 bedroom 2 bath corner suite with great views of the city, mountains & water from every room! Impressive features include large master bedroom with big ensuite & walk-in-closet, bright kitchen with lots of windows plus granite counters & cozy breakfast nook with, generous size dining room & living room with gas fireplace will easily accommodate larger furniture. Relax in the 7,000 sqft Health Club with glass bottom pool, hot tub, sauna, fitness centre & squash court. Building has 24 hour security & concierge and as an added bonus this suite has 2 side by side parking stalls & locker. Ideal location steps to shopping, seawall, and restaurants. OPEN HOUSE JULY 23/24TH 2-4 PM.
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Please visit our Open House at 1701 1000 BEACH AVE in Vancouver.
Open House on Saturday, July 23, 2016 2:00PM - 4:00PM
Prestigious 1000 Beach Avenue! Spectacular 1,335 sqft 2 bedroom 2 bath corner suite with great views of the city, mountains & water from every room! Impressive features include large master bedroom with big ensuite & walk-in-closet, bright kitchen with lots of windows plus granite counters & cozy breakfast nook with, generous size dining room & living room with gas fireplace will easily accommodate larger furniture. Relax in the 7,000 sqft Health Club with glass bottom pool, hot tub, sauna, fitness centre & squash court. Building has 24 hour security & concierge and as an added bonus this suite has 2 side by side parking stalls & locker. Ideal location steps to shopping, seawall, and restaurants. OPEN HOUSE JULY 23/24TH 2-4 PM.
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Please visit our Open House at 1701 1000 BEACH AVE in Vancouver.
Open House on Sunday, July 24, 2016 2:00PM - 4:00PM
Prestigious 1000 Beach Avenue! Spectacular 1,335 sqft 2 bedroom 2 bath corner suite with great views of the city, mountains & water from every room! Impressive features include large master bedroom with big ensuite & walk-in-closet, bright kitchen with lots of windows plus granite counters & cozy breakfast nook with, generous size dining room & living room with gas fireplace will easily accommodate larger furniture. Relax in the 7,000 sqft Health Club with glass bottom pool, hot tub, sauna, fitness centre & squash court. Building has 24 hour security & concierge and as an added bonus this suite has 2 side by side parking stalls & locker. Ideal location steps to shopping, seawall, and restaurants. OPEN HOUSE JULY 23/24TH 2-4 PM.
Read Full Story
Please visit our Open House at 603 1488 HORNBY ST in Vancouver.
Open House on Saturday, July 16, 2016 2:00PM - 4:00PM
Welcome to Pacific Promenade! This one of a kind corner unit Penthouse Villa is perfect for families or professionals. This suite features 3 bedrooms, 2 bathrooms, great chef's kitchen, concrete floors with loft style barn doors, skylight, and in-suite storage. The vast open plan living is wrapped with outdoor living on three sides including a private patio entrance. South West facing all conveniently located in the " Beach District" steps to seawall, sea-bus, restaurants, aquatic center, and shopping. Along with amazing amenities this unit also comes with two parking and a storage locker. PUBLIC OPEN HOUSE JULY 16/17TH 2-4PM.
Read Full Story
Please visit our Open House at 603 1488 HORNBY ST in Vancouver.
Open House on Sunday, July 17, 2016 2:00PM - 4:00PM
Welcome to Pacific Promenade! This one of a kind corner unit Penthouse Villa is perfect for families or professionals. This suite features 3 bedrooms, 2 bathrooms, great chef's kitchen, concrete floors with loft style barn doors, skylight, and in-suite storage. The vast open plan living is wrapped with outdoor living on three sides including a private patio entrance. South West facing all conveniently located in the " Beach District" steps to seawall, sea-bus, restaurants, aquatic center, and shopping. Along with amazing amenities this unit also comes with two parking and a storage locker. PUBLIC OPEN HOUSE JULY 16/17TH 2-4PM.
Read Full Story
I have listed a new property at 1366 16TH ST E in North Vancouver.
Fantastic family home in Westlynn! Completely rebuilt in 2013 right down from the studs. This 4 bed/3 bath home features 12 foot ceilings, birch hardwood and tile throughout the open floor plan. Gourmet kitchen with Viking appliances, granite counters and skylights. Impeccable location on dead end street for ultimate privacy sitting on 11,000ft flat lot with a garden and shed. Close to shopping, restaurants, schools, transit and Lynn Valley Canyon. Bonus! home comes with separate one bedroom legal suite. Call Today for a private showing. OPEN HOUSE JULY JULY16/17TH 2-4PM.
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I have listed a new property at 1705 939 HOMER ST in Vancouver.
Spacious studio and den at the Pinnacle! Enjoy the laminate floors, Gas Fireplace with city views from the solarium/bedroom. In the Heart of Yaletown steps to shopping, restaurants, and nightlife. Great building and amenities this unit comes with 1 parking and 1 locker. Pets and rentals allowed! OPEN HOUSE JULY 16/17TH 2-4PM.
Read Full Story
Please visit our Open House at 1366 16TH ST E in North Vancouver.
Open House on Saturday, July 16, 2016 2:00PM - 4:00PM
Fantastic family home in Westlynn! Completely rebuilt in 2013 right down from the studs. This 4 bed/3 bath home features 12 foot ceilings, birch hardwood and tile throughout the open floor plan. Gourmet kitchen with Viking appliances, granite counters and skylights. Impeccable location on dead end street for ultimate privacy sitting on 11,000ft flat lot with a garden and shed. Close to shopping, restaurants, schools, transit and Lynn Valley Canyon. Bonus! home comes with separate one bedroom legal suite. Call Today for a private showing. OPEN HOUSE JULY JULY16/17TH 2-4PM.
Read Full Story
Please visit our Open House at 1366 16TH ST E in North Vancouver.
Open House on Sunday, July 17, 2016 2:00PM - 4:00PM
Fantastic family home in Westlynn! Completely rebuilt in 2013 right down from the studs. This 4 bed/3 bath home features 12 foot ceilings, birch hardwood and tile throughout the open floor plan. Gourmet kitchen with Viking appliances, granite counters and skylights. Impeccable location on dead end street for ultimate privacy sitting on 11,000ft flat lot with a garden and shed. Close to shopping, restaurants, schools, transit and Lynn Valley Canyon. Bonus! home comes with separate one bedroom legal suite. Call Today for a private showing. OPEN HOUSE JULY JULY16/17TH 2-4PM.
Read Full Story
Please visit our Open House at 1705 939 HOMER ST in Vancouver.
Open House on Saturday, July 16, 2016 2:00PM - 4:00PM
Spacious studio and den at the Pinnacle! Enjoy the laminate floors, Gas Fireplace with city views from the solarium/bedroom. In the Heart of Yaletown steps to shopping, restaurants, and nightlife. Great building and amenities this unit comes with 1 parking and 1 locker. Pets and rentals allowed! OPEN HOUSE JULY 16/17TH 2-4PM.
Read Full Story
Please visit our Open House at 1705 939 HOMER ST in Vancouver.
Open House on Sunday, July 17, 2016 2:00PM - 4:00PM
Spacious studio and den at the Pinnacle! Enjoy the laminate floors, Gas Fireplace with city views from the solarium/bedroom. In the Heart of Yaletown steps to shopping, restaurants, and nightlife. Great building and amenities this unit comes with 1 parking and 1 locker. Pets and rentals allowed! OPEN HOUSE JULY 16/17TH 2-4PM.
Read Full Story
I have listed a new property at 603 1488 HORNBY ST in Vancouver.
Welcome to Pacific Promenade! This one of a kind corner unit Penthouse Villa is perfect for families or professionals. This suite features 3 bedrooms, 2 bathrooms, great chef's kitchen, concrete floors with loft style barn doors, skylight, and in-suite storage. The vast open plan living is wrapped with outdoor living on three sides including a private patio entrance. South West facing all conveniently located in the " Beach District" steps to seawall, sea-bus, restaurants, aquatic center, and shopping. Along with amazing amenities this unit also comes with two parking and a storage locker. PUBLIC OPEN HOUSE JULY 9/10TH 2-4PM.
Read Full Story
Please visit our Open House at 603 1488 HORNBY ST in Vancouver.
Open House on Saturday, July 9, 2016 2:00PM - 4:00PM
Welcome to Pacific Promenade! This one of a kind corner unit Penthouse Villa is perfect for families or professionals. This suite features 3 bedrooms, 2 bathrooms, great chef's kitchen, concrete floors with loft style barn doors, skylight, and in-suite storage. The vast open plan living is wrapped with outdoor living on three sides including a private patio entrance. South West facing all conveniently located in the " Beach District" steps to seawall, sea-bus, restaurants, aquatic center, and shopping. Along with amazing amenities this unit also comes with two parking and a storage locker. PUBLIC OPEN HOUSE JULY 9/10TH 2-4PM.
Read Full Story
Please visit our Open House at 603 1488 HORNBY ST in Vancouver.
Open House on Sunday, July 10, 2016 2:00PM - 4:00PM
Welcome to Pacific Promenade! This one of a kind corner unit Penthouse Villa is perfect for families or professionals. This suite features 3 bedrooms, 2 bathrooms, great chef's kitchen, concrete floors with loft style barn doors, skylight, and in-suite storage. The vast open plan living is wrapped with outdoor living on three sides including a private patio entrance. South West facing all conveniently located in the " Beach District" steps to seawall, sea-bus, restaurants, aquatic center, and shopping. Along with amazing amenities this unit also comes with two parking and a storage locker. PUBLIC OPEN HOUSE JULY 9/10TH 2-4PM.
Read Full Story

The Office of the Superintendent of Financial Institutions (OSFI) issued a letter this morning to all federally regulated financial institutions (FRFI). The letter expresses concern about the rising levels of household debt in Canada and serves to remind FRFIs of their obligations under Guidelines B-20 and B-21 to assess and underwrite mortgage loans and mortgage insurance in a prudent manner. 


The letter states: 
Given the current economic environment in Canada, with record levels of household indebtedness and growing risks and vulnerabilities in some housing markets, OSFI’s supervisory scrutiny in the area of mortgage underwriting will continue. Moving forward, OSFI will place an even greater emphasis on confirming that financial institutions conduct prudent mortgage underwriting, and that their internal controls and risk management practices are sound and take into account market developments.


OSFI has identified the following five specific areas that it expects lenders to consider diligently during their underwriting process:
Income Verification
Due diligence processes for lenders must be in place.  Inadequate income verification can adversely affect the assessment of credit risk, anti-money laundering and counter terrorist financing (AML/CTF) compliance, capital requirements and mortgage insurability. More stringent due diligence for incomes outside of Canada should be applied, and there should not be any reliance on collateral values as a replacement for income validation.


Non-Conforming Loans
OSFI warns that the 65% loan-to-value threshold should not be considered a demarcation point below which, sound underwriting practices and borrower due diligence do not apply; a borrower’s character and capacity to service the loan should always take precedence over the value of collateral when underwriting mortgage loans or insurance.


Debt Service Ratios
Incomes should be conservatively calculated and appropriately questioned. In particular, rental incomes from the underlying property should be critically examined. OSFI also suggests that relying on current posted five-year interest rates to test a borrower’s ability to service its obligations does not represent an adequate stress test in a rising interest rate environment.


Appraisals and LTV Calculation
OSFI suggests that rapid house price increases create more uncertainty about the reliability of property appraisals. Institutions should use appraisal values and approaches that provide for a conservative LTV calculation, and not assume that housing prices will remain stable or continue to rise.


Risk Appetite and Portfolio Management
OSFI’s supervisory work indicates that the risk profile of newer mortgage loans is generally on the rise. OSFI reminds mortgage lenders and mortgage insurers to revisit their Residential Mortgage Underwriting Policy and Residential Mortgage Insurance Underwriting Plan regularly to ensure a stringent alignment between their stated risk appetite and their actual mortgage/mortgage insurance underwriting and risk management practices.


OSFI’s letter further states that they are working on various capital policy initiatives to strengthen the measurement of capital held by the major banks and mortgage insurers to ensure their ability to weather losses from residential mortgage defaults. New measures are targeted for implementation in November 2016 and January 2017 respectively. Risk Sensitive Floors, Capital Requirements for Mortgage Insurers, and BCBS Revisions to the Standardized Approach for Credit Risk are each included in these reviews. 

We are pleased that OSFI is committed to consultations with our industry prior to the implementation of these new rules. Mortgage Professionals Canada will be involved in these discussions and we will keep you informed of any developments.

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