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Mortgage Broker News | 11 Apr 2018, 01:22 AM Agree 0
Toronto lawyer David Franklin says that the government office has avoided fulfilling its real responsibilities to the public
  • some1 | 11 Apr 2018, 03:31 PM Agree 0
    Moral of the story is never invest with a Mortgage Agent or builder you don't know or trust. If someone wants to invest in private mortgages and earn a decent yield there are other ways to go about it than participating in a syndication deal for an unknown builder. As a lender we routinely get smaller builders reaching out for financing and they almost never have any of their own skin in the game.
    • Mortgage Lender #1 | 12 Apr 2018, 12:22 PM Agree 0
      Except for the fact that the agent involved was a personal friend and trusted member of their community.

      There is no way around fraud except to do your own personal due diligence when agreeing to invest in anything. Find out about the principles involved. What is their track record? Take time to review their successful projects and financial details.

      And above all.. If something seems to go to be true.. It likely is or else everyone and their dogs would be throwing money at it.
  • | 15 Apr 2018, 08:47 AM Agree 0
    FSCO Is Fiasco! No help, just an organization to protect big financial banks and insurance companies not the public!
  • Mike | 27 Dec 2018, 09:10 AM Agree 0
    What was the brokerage he worked for? Who it the Principal Broker? Where was the supervision? All these facts seem absent from the article.
  • G . K . Sinclair | 27 Dec 2018, 10:18 AM Agree 0
    Realtors in Ontario are strictly controlled and supervised by RECO ( Real Estate Council of Ontario ) . The theme being the protection of THE PUBLIC . RECO has a strong investigative division , Realtors who break the rules are sure to face a Tribunal , if found guilty of a violation receive heavy penalties . IN CONTRAST , Mortgage Brokers ( at least many of them ) seem to act without control or supervision and the PROTECTION OF THE PUBLIC is not a factor . High lending rates , High fees and penalties are the Norm .. IS IT NOT TIME FOR FSCO TO GET SERIOUS AND PROTECT THE PUBLIC OF ONTARIO AS WELL ?
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