The Globe and Mail reports in its Wednesday, Aug. 17, edition that Ottawa is monitoring the growth of unregulated mortgages in Canada as non-bank lenders see their market share surge. The Globe's David Berman writes that a government briefing note says unregulated mortgage lenders now control about 15 per cent of mortgage originations in Canada. The document attributed the growth to low-cost business models, the rising popularity of brokers and access to securitization from Canada Mortgage and Housing Corp. As well, new regulations have raised the qualification thresholds for insured mortgages from banks, encouraging some consumers to look elsewhere for financing to buy a house. The government memo estimated that about 90 per cent of the business of unregulated lenders is subject to federal mortgage rules, which include meeting the strict underwriting standards set by CMHC and the Office of the Superintendent of Financial Institutions. However, the memo warned against complacency. "On balance, unregulated lenders do not appear to pose systemic concerns at this time and are enhancing competition in the mortgage market," states the Finance Canada memo dated Nov. 20, 2015.