This paper examines changes in financing practice for lawyers acting for lenders and borrowers. It discusses regulatory requirements respecting anti-money laundering, requirements of the Office of the Superintendent of Financial Institutions, and professional requirements to hold and protect private information. It also provides tips for enforceability opinions. This paper also focuses particular attention on real estate lending, discussing changes to the Canadian Mortgage and Housing corporation master loan insurance policy, environmental concerns, title insurance, and due diligence searches. A number of appendices, such as client identification requirements and beneficial ownership requirements, are also included.
This paper is part of a collection presented at LESA’s 51st Annual Refresher: Business program in Lake Louise from May 6–8, 2018.