Public Realm Improvements
Glossary

Public Realm Improvements

Public realm improvements are developer-funded upgrades to public spaces that enhance livability and property values.

Mortgagee in Possession
Glossary

Mortgagee in Possession

A mortgagee in possession is a lender who takes control of a property after borrower default to manage or rent it before foreclosure.

Lease Surrender Agreement
Glossary

Lease Surrender Agreement

A lease surrender agreement is a negotiated contract ending a lease early, often involving compensation or release of obligations.

Green Infrastructure
Glossary

Green Infrastructure

Green infrastructure uses natural or engineered systems like bioswales or green roofs to manage stormwater and improve sustainability.

Escrow Holdback
Glossary

Escrow Holdback

An escrow holdback is money withheld at closing until repairs or conditions are met, protecting buyers and ensuring compliance.

Underused Housing Tax
Glossary

Underused Housing Tax

The Underused Housing Tax is a federal 1% annual tax on vacant or underused homes owned by non-resident, non-Canadian entities.

CMHC MLI Select
Glossary

CMHC MLI Select

CMHC MLI Select is an insurance program for multi-unit housing that rewards affordability, accessibility, and energy efficiency.

Portfolio Mortgage Insurance
Glossary

Portfolio Mortgage Insurance

Portfolio mortgage insurance is coverage lenders buy for pools of low-ratio mortgages to manage risk and enable securitization.

Mortgage Trigger Rate
Glossary

Mortgage Trigger Rate

A mortgage trigger rate is the point at which fixed payments on a variable-rate loan no longer cover interest, requiring adjustments.

Progress Draw Mortgage
Glossary

Progress Draw Mortgage

A progress draw mortgage releases funds in stages during construction, with inspections verifying completion before each advance.

Assignment of Rents
Glossary

Assignment of Rents

An assignment of rents lets lenders collect tenant income directly if a borrower defaults, providing extra loan security.

Sublet
Glossary

Sublet

A sublet is when a tenant rents their unit to another person temporarily while retaining legal responsibility under the lease.