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Mortgage Broker News | 02 Aug 2015, 01:40 PM Agree 0
One seasoned broker is suggesting pressure from referral partners often leads inexperienced mortgage agents to skirt the margins and embellish income statements.
  • Tony Piattelli | 04 Aug 2015, 02:33 PM Agree 0
    All I have to say is you're responsible for your own integrity and if you're going to give that away for a couple of thousand dollars then you don't deserve to be in the industry as this industry is based on trust and self regulation, and these brokers make it harder for the rest of us to do our jobs.
  • Erma | 04 Aug 2015, 02:41 PM Agree 0
    I totally agree. These agents know the difference between right & wrong. It is no one else's fault. It is unfortunate that they give the rest of us who do act with integrity a bad name.
  • Blair Anderson | 04 Aug 2015, 02:59 PM Agree 0
    Well said Tony.
  • james | 04 Aug 2015, 03:01 PM Agree 0
    corrupt individuals will almost always be corrupt. why blame someone else? o yea...the nature of the beast.

    no excuse for brokers like these...
  • marvis olson | 04 Aug 2015, 03:17 PM Agree 0
    I don't think new agents would know how to falsify doc's---I would say experienced agents who know the system are doing it
  • Tomas | 04 Aug 2015, 03:25 PM Agree 0
    You can't cheat an honest man.
  • my comment | 04 Aug 2015, 07:55 PM Agree 0
    This industry or shall I refer to it as economy is flooded with the fraud, no question about it. One shall refuse all risk that this behavior poses and including participation in any capacity as a lender or investor, unless the objective is to commit fraud or hide money from committing fraud. Home Capital is just a tip of an iceberg. Don't forget Chinese money launderers snapping up Canadian real estate because of lenient border laws and loose regulations. Mortgage fraud is no less of an offense than money laundering, both equally serious and with impunity. I will certainly look for "less stable banking system" but one without wool being pulled over my eyes or caused by incompetence of our regulators. The system worth to invest time and money. No wonder why our real estate is a world class joke. And the worst is yet to come unless of course you are in denial.

    http://www.theprovince.com/travel/Money+launderers+snap+local+real+estate/11262931/story.html
  • Victor Simone | 04 Aug 2015, 10:17 PM Agree 0
    Which mortgage channel has more problems with mortgage fraud, Banks with dedicated mortgage specialists or Independent Lenders ?

    I would love to see some data on this.

    Personally, I would guess -- Banks.
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