Canada's government as been acting since 2009 to tighten mortgage lending requirements in their ongoing efforts to ensure Canadians do not face the ruinous housing collapse endured by Americans and many Europeans since the collapse of 2008.  As a signatory to the Basil Accords along with the USA and all the Euro nations Canada's government is obligated to comply its banks to adhere to much stricter underwriting guidelines and due diligence.