More than three-quarters of newcomers to Canada worry about making financial mistakes, and over half say they struggled to manage their finances after arriving.
That’s according to a new TD survey, which highlights the uncertainty many face when navigating a new financial system.
“Building a life in a new country can be both exciting and overwhelming,” said Janice Farrell Jones, senior vice-president of Everyday Banking, Savings and Investing at TD. “Newcomers face the pressure of adapting to a new way of life in Canada, while quickly getting on the right foot financially — from understanding banking products and services, to budgeting for living costs and future goals, while maintaining financial ties to family living abroad.”
Where brokers can make a difference
The research found that one in three newcomers had little to no understanding of how Canada’s banking system works. Half reported limited knowledge about investing, and many felt unprepared to make informed financial decisions. Many also expressed uncertainty about credit, banking, and how to access financial support for long-term goals like homeownership or starting a business.
These findings point to a growing need for clear, trusted financial guidance. For mortgage professionals, it’s a chance to help bridge that gap by providing advice in plain language, helping clients understand how credit works in Canada, and building trust through education and support.
“Newcomers bring incredible drive and ambition, but many are navigating a financial system they’re still learning to understand,” said Lauren van den Berg, president and CEO of Mortgage Professionals Canada. “This is a real opportunity for mortgage professionals to step up as trusted guides, offering not just products, but education and support that can make a lasting difference in someone’s financial journey in Canada.”
TD notes that supporting newcomers is not a task for banks alone. “We believe that there is an opportunity for the financial industry and corporate Canada at large to help set up new and established newcomers for success,” Jones said.
van den Berg says mortgage professionals are well-positioned to play a part in that effort by offering informed, accessible advice tailored to clients who are still learning the Canadian financial system.
Newcomers looking to connect with a licensed mortgage broker can visit MPC’s FindMeABroker.ca tool, which helps match users with professionals in their area.
Sagen posts $111M Q2 net income, sees pressure on underwriting and investment yield
Sagen MI Canada reported net income of $111 million in the second quarter of 2025, down from $151 million in the same quarter last year. The company said the decline was due to a lower net insurance service result and reduced investment income.
The net insurance service result—a key measure of underwriting profitability—fell to $102 million, compared to roughly $143 million a year earlier. That decline reflected increased finance expenses and higher operating costs. On the investment side, total income slipped due to weaker market returns and more modest gains across fixed-income and derivative holdings.
Despite the year-over-year decline in profitability, Sagen’s capital position remained strong. As of the end of Q2, the company reported a MICAT ratio of 184%, well above both its internal target of 157% and OSFI’s supervisory minimum of 150%. Invested assets totalled approximately $6.3 billion, with a portfolio duration of 3.2 years.
Deadline approaching for MPC’s 2025 Mortgage Hall of Fame nominations
Mortgage Professionals Canada is accepting nominations for its 2025 Canadian Mortgage Hall of Fame, with the submission deadline set for Friday, Aug. 15.
The annual recognition honours individuals who have made a lasting contribution to the industry through leadership, mentorship and service.
This year’s inductees will be recognized on Monday, Oct. 20 during MPC’s National Mortgage Conference in Ottawa. Nomination criteria and submission details are available here.
Mortgage arrears hold steady in May
The number of Canadian mortgages in arrears remained stable in May, reaching 11,058 loans, or 0.22% of all residential mortgages, according to the latest figures from the Canadian Bankers Association.
Saskatchewan continues to post the highest arrears rate in the country at 0.53%, followed by Manitoba at 0.33%, and Atlantic Canada at 0.27%. Alberta also sits just above the national average at 0.26%.
Meanwhile, Quebec (0.18%), British Columbia (0.20%), and Ontario (0.21%) remain below or near the national level.
While the number of arrears edged slightly higher month over month, levels remain historically low and far below the current 1.52% mortgage arrears rate in the U.S.
Four winners awarded $15M in CMHC’s Housing Supply Challenge
Canada Mortgage and Housing Corporation has awarded $15 million to four recipients of the Housing Supply Challenge Game-Changer Prize, recognizing innovative projects aimed at accelerating housing construction across the country.
The top honour went to Promise Robotics, which is developing a “robotic factory as-a-service” platform to scale industrialized homebuilding. Three silver recipients were also awarded funding: Tapestry Community Capital, Mddl, and One Bowl, for projects focused on financing, ecosystem development, and sustainable materials.
The Game-Changer Prize is part of CMHC’s $300-million Housing Supply Challenge, launched to find and fund creative solutions to barriers in housing production. To date, the federal government says it has committed over $65 billion toward housing outcomes as part of its National Housing Strategy.
Next Steps: Mortgage industry career moves
“Next Steps” is a feature in our Mortgage Digests that highlights notable job changes and career advancements within the mortgage industry. If you have a job update to share, we welcome your submissions to keep the community in the loop.
Manulife Bank appoints Marco Beauregard as Business Development Manager for Quebec broker channel
Manulife Bank has announced the appointment of Marco Beauregard as Business Development Manager, Broker Channel, for the Québec region.
With more than 30 years of experience in the mortgage industry—including 18 years at FNF Canada, Marco is widely recognized for his deep expertise, professionalism, and commitment to delivering results. His contributions have earned him multiple industry accolades, including BDM and Partner of the Year awards in both 2022 and 2023, underscoring the strong and lasting relationships he has built with partners, clients, and colleagues.
Marco has also played a pivotal role in shaping the mortgage landscape through his 17 years of service on the Board of Directors of the Association of Mortgage Partners (APH), where he continues to advocate for best practices and industry advancement.
Known for his integrity, warmth, and passion for the business, Marco brings a collaborative spirit and a client-first mindset to every interaction.
BluRoot names Maryah Diulia as Sales & Marketing Manager
BluRoot has promoted Maryah Diulia to Sales & Marketing Manager, recognizing her contributions since joining the team in December 2021.
In her expanded role, Diulia will continue leading sales conversations, shaping marketing strategy, and working closely with clients and partners to drive growth.
She credits the BluRoot team for encouraging her development and supporting her leadership journey.
EQ Bank promotes Rizwan Qureshi to Regional Director of Sales
Rizwan Qureshi has been appointed Regional Director of Sales at EQ Bank, building on more than a decade of service with the lender.
Qureshi began his career at EQ as an underwriter before rising to Business Development Manager, where he became known for his strong broker relationships and solution-focused approach. In his new leadership role, he continues to empower mortgage brokers with the tools and products to help their clients succeed.
Qureshi brings nearly two decades of experience in the mortgage industry, including previous roles at Home Trust, CIBC, AGF, and PC Financial.
FSRA appoints Antoinette Leung as EVP, Market Conduct
The Financial Services Regulatory Authority of Ontario (FSRA) has named Antoinette Leung as Executive Vice President, Market Conduct, effective August 1, 2025.
Leung has spent more than five years leading FSRA’s Financial Institutions and Mortgage Broker Conduct division, where she’s been instrumental in modernizing regulatory oversight. She brings a strong track record in financial regulation, public service, and collaborative leadership.
In her new role, Leung will oversee market conduct across FSRA’s regulated sectors, helping advance consumer-focused regulation and FSRA’s modernization efforts.
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Last modified: August 1, 2025