According to a new national survey conducted by Pollara Pollara Strategic Insights Canadian Mortgage Professionals (MPC) and the Canadian Mortgage and Property Insurance Industry Association (MTIIAC), most Canadians believe mortgage fraud makes it harder for honest buyers to compete in today’s housing market.
Polls found that 78% of Canadians said mortgage fraud created an unfair playing field, while 64% believed that this contributed to higher housing prices. Overall, more than half of Canadians (58%) expressed concern about the overall mortgage fraud, which rose to 65% of those planning to buy a home in the next five years.
“Canadians want a fairer and more transparent system to protect honest home buyers,” said Lauren Van Den Berg, president and CEO of MPC. “Mortgage fraud not only undermines trust, it also brings housing costs for everyone. Income verification through CRA is a practical solution that will strengthen trust in the housing market and help ensure everyone works according to the same rules.”
The poll also pointed to public support for policy solutions, with nearly two-thirds (65%) of Canadians saying the Canadian Revenue Agency should play a direct role in preventing fraud, while 72% would support allowing its lenders or mortgage brokers to verify revenue directly with the CRA.
The latest data from Equifax in Canada found that overall mortgage fraud has eased since the pandemic, but cases are climbing among potential first-time buyers. The data show that the probability of fraud being a consumer without an existing mortgage is almost 0.31%, while the probability of 0.19% is almost 0.31%.
Data from Equifax also found that forged financial situations remain the biggest concern, accounting for more than 30% of fraud cases at the end of 2024. Stated income or forgery documents (such as compensation stubs and tax bills and tax bills) appear in more than 95% of applications and are marked as fraudulent.
Today’s revenue verification location
In recent years, calls for stronger safeguards have become bigger, with mortgage professionals Canada at the forefront of forcing Ottawa to prioritize secure digital income verification systems. The association has always believed that with the borrower’s consent, this tool will allow lenders and brokers to confirm revenue data directly from the CRA record, thereby closing the gap that currently allows for forged documents to be passed.
The federal government has pledged on its 2024 budget that the fall economic statement will begin to launch such a system in early 2025. The CRA then consulted with industry groups and received more than 1,600 responses. Feedback showed strong support for digital tools, and participants pointed out that forging or altering income documents was the most pressing risk of fraud.
“Participants are clear that the tools created by the CRA allow mortgage professionals to verify the effectiveness of borrower income will simplify the mortgage approval process and greatly reduce the risk of fraud,” the CRA report noted. Industry members also stressed the need for real-time access through a secure portal or API, years of revenue history, and a simple yes/no response detailed data.
Despite broad consensus on demand and solutions, Canadians are still waiting. “We call on the federal government to redefine this plan and act quickly to provide digital revenue verification tools to build a clear timetable and avenue for the 2025 budget on the important progress already made,” MPC said in its latest release.
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Last modified: September 8, 2025
