What is the name of the Ontario regulation that came into effect on July 1, 2008?

The correct answer is the Mortgage Brokers, Lenders and Administrators Act (MBLAA), which officially came into effect on July 1, 2008. This regulation was introduced to enhance the framework governing mortgage brokers, lenders, and administrators in Ontario. It is designed to ensure that these entities operate within a regulated environment, providing clarity and protection for consumers engaging in mortgage transactions.

The act established licensing requirements, as well as standards for conduct and operating procedures for those involved in the mortgage industry. This was a significant step in creating accountability and promoting ethical practices among mortgage professionals, ultimately benefiting consumers by fostering a more reliable mortgage market.

The other options do not accurately represent the regulation that was enacted on that specific date. While the Ontario Mortgage Regulation Act may sound plausible, no such specific regulation exists under that name. Similarly, the Mortgage Industry Oversight Act and the Mortgage Licensing and Regulations Act do not refer to the legislation enacted in Ontario in 2008. Hence, the MBLAA is recognized as the prominent and relevant regulatory framework for the mortgage industry in Ontario during that period.