Generally speaking, a private mortgage broker a term that well loosely used for the context of this article, that speaks to a licensed mortgage professional who assists mortgage borrowers with private mortgages. It is important to note that at the time of this article, the Ontario mortgage regulator, the Financial Services Regulatory Authority of Ontario (FSRA) has implemented a new mortgage licensing tier system that specifically increases regulations on private mortgage brokering activity and has resulted in an outcome that only 2 of 3 licensing tiers are allowed to deal or trade in private mortgages. Given the niche nature of private mortgages, and unlike federally and provincially regulated lenders who must abide by government prescribed underwriting guidelines, private mortgage lenders are able to, within reason, implement their own underwriting policies, many of which are much less stringent compared to traditional lenders. Amidst a turbulent real estate market, the regulator has determined that additional oversight of private mortgage activity is in the best interests of consumers. A private mortgage broker is a professional that understands the landscape of private mortgaging, has access to multiple private mortgage lenders, understands the characteristics of multiple private mortgage products and has the ability to understand which products might be most suitable for their clients to consider.