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Mortgage Broker News | 28 Nov 2016, 08:15 AM Agree 0
Syndicated mortgages continue to make headlines, with reports of payment delays leading some to call for a change in regulation. Has it reached that point? Have your say today by taking our poll.
  • Jeff Young | 28 Nov 2016, 02:34 PM Agree 0
    FSCO regulation is exactly where Private Lending via Syndicated Mortgage Investments should remain. Form 1 and Form 1.1 represent a significant level of disclosure to the investors. The organization is well equipped to continue the oversight of all of the Mortgage industry. The top Syndicated Mortgage Investment providers represent the vast majority of this type of business. For the top providers, Compliance, Disclosure & Client Suitability are at the top of industry priorities for them. Furthermore, the client education is extensive and consistent with the highest values of Financial Services Commission of Ontario. Changing regulators at this time would do an enormous disservice to the public.
  • Catherine Bonoan | 28 Nov 2016, 05:49 PM Agree 0
    I still would prefer to keep the syndicated mortgage investments with FSCO. I've invested in 2 projects and my daughter too. I believe that delays in interest payments are being managed well. I am not alarmed in any way.
  • ZB | 19 Jan 2017, 10:09 AM Agree 0
    Private Lending via Syndicated Mortgage Investments should remain. There are very tight processes in place that provide full disclosure to the investors. FSCO is well equipped to continue the oversight of all of the Mortgage industry. The top Syndicated Mortgage Investment providers represent the vast majority of this type of business. Client satisfaction, protection and disclosure is top priority. Keep it with FSCO.
  • Ron Butler | 23 Jan 2017, 11:55 AM Agree 0
    As long as we are careful to define syndicated mortgages as only those products that cover soft costs for developers than I am not sure how any mortgage broker can defend the continuation of a system that has so far resulted in 2 mortgage brokerages being shut down by FSCO for mismanagement and fraud and other brokerages named in massive lawsuits. Clearly no other mortgage broker product attracts as much negative consequences as syndicated mortgages for soft costs.
  • William Ball | 24 Jan 2017, 04:47 PM Agree 0
    The real problem here is FSCO and not putting a stop to brokers and developers who hide behind the 9D and are not putting clients interests first and foremost. Syndicates just like all other investments out there come with risk but if you don't know what your investing in and are just trusting the word of a third party who isn't the developer themselves (which we see with some of the biggest raisers of capital out there) or don't have the history to back it up (as we have also seen out in the marketplace). Do your due diligence, learn all the material risks of a deal and invest in the right ones because their out there and they can make clients a great return with mitigated risk who will then see their investment to its fruition.
  • Victor Simone | 25 Jan 2017, 07:55 AM Agree 0
    Ask me again after a drop in consumer demand and prices. If the sector can handle that ? We're good.

    Until then.....keep things the way they are.
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