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$511 million in mortgages set up by unregistered Vancouver broker who cooked books: FICOM – An unregistered Vancouver mortgage broker may have arranged over half a billion dollars in loans, many of which could be based on falsified income records, according to a cease and desist order issued.
Second mortgage brokerage firm tied to real estate developer Fortress Real Developments shuts down – A second mortgage brokerage firm that raised money to finance projects for Fortress Real Developments Inc. has closed its doors, marking another setback for the troubled real estate developer. FDS.
Mortgage Broker Definition – A mortgage broker serves as an intermediary between borrowers and lenders. Whether a potential borrower is buying a new home or refinancing, a broker gathers loan options from various lenders for the borrower to consider, while qualifying the borrower for a mortgage.
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Government backs away from pledge to ban trailing commissions for mortgage brokers – When Kenneth Hayne’s final report was released, the Government pledged to ban trailing commissions from July 2020 Trailing commissions are paid to brokers for the duration of a loan, as opposed to.
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