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Mortgage Broker News | 27 Nov 2015, 12:00 PM Agree 0
A former referral partner to Canadian brokers is under investigation by the OSC on allegations it defrauded investors, with the company also thrust into receivership
  • Ron Butler | 27 Nov 2015, 12:31 PM Agree 0
    There will be more of these. The public's search for yield and the incredible growth of private, MICC or Syndicated mortgage financing of development and/or construction properties in Ontario will someday have a reckoning.

    While many mortgage brokers are almost flawless in their due diligence and rigor in choosing projects to offer mortgage investors others are aggressive in a way that has to be called reckless and self-serving.

    Although this was a OSC prosecution based on limited dealer offerings there were mortgages involved in the investor presentations.

    Stay tuned.
  • Peter | 27 Nov 2015, 05:12 PM Agree 0
    Greed and mismanagement have nothing to do with the viability of the investment itself.
    People forget that in 2000 and 2008, trillions were lost in mutual funds and stocks sold by the big banks and financial institutions.
    Honesty and integrity cannot be earned through CE courses. Either you are or you aren't honest, regardless of how many designations you have after your name.
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