Plain-language definition
What does Suspicious transaction report (STR) mean?
A report submitted to FINTRAC when legal grounds and sector obligations are met. Reporting entities must not disclose filing in a prohibited manner.
Practical significance
Why it matters in a mortgage file
It matters because inconsistent identity, funds or transaction information can stop funding and trigger regulatory or legal consequences.
The exact treatment depends on the lender, property, borrower profile, transaction structure and governing documents. A term used conversationally may be narrower or broader than the meaning used in a commitment, registered charge, appraisal, insurer guideline or statute.
For the broader transaction framework, read What a Mortgage Is and How to Use This Guide.
Underwriting perspective
How professionals apply the concept
In underwriting, suspicious transaction report (str) is not reviewed in isolation. The professional must identify the source document or policy controlling the term, verify the underlying facts, assess how it affects risk or qualification, and document any exception or assumption. For legal, tax, accounting or appraisal questions, the appropriate professional's opinion should control.
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This entry is general educational information. Mortgage rules and lender policies can change, and the result depends on the complete application and transaction. It is not legal, tax, accounting, appraisal, investment or financial advice.