The Globe and Mail reports in its Monday edition that at least two Canadian banks have tightened restrictions on mortgages granted to non-resident home buyers amid widespread concerns about the overheating housing markets of Vancouver and Toronto. The Globe's David Berman writes that last week, Bank of Nova Scotia amended its income verification policy for non-residents, ending a policy that had allowed some customers to get around income verification policies if they had large down payments. Starting today, Bank of Montreal will require all applicants in its new-to-Canada and non-resident lending programs to include documentation that verifies their wealth and source of income. Earlier this month, The Globe reported that some Canadian banks have been allowing foreign clients with no Canadian credit history, including students, to qualify for mortgages without proving the sources of their income. The banks have long helped non-resident home buyers to secure mortgages, insisting on higher down payments and enforcing anti-money-laundering controls, but now appear to be raising the thresholds for some loans. BMO stopped lending to foreign students amid worries of money-laundering and market froth.