Yes.
PRMHIA is the act that governs mortgage insurance.
The change required is an addition to the “eligible mortgage loan” definition. Currently, it states that the mortgage insurer requires a registered first or second charge. What we're asking for is the inclusion of title insurance as an alternative to a registered first or second.
We have a legal opinion confirming our compliance otherwise. It goes on to state that the prevailing commercial market practice in the country uses title insurance as an alternative to the first or second. It's just not referenced in the legislation. Their recommendation was to update the legislation, regardless of our operation.