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Mortgage Broker News | 17 Sep 2013, 12:00 AM Agree 0
A B.C. agent who had his licence suspended for five years after allegedly forging a letter of employment tells he is innocent of any wrongdoing, although he has no plans to reapply for brokering privileges.
  • Christopher | 17 Sep 2013, 09:55 AM Agree 0
    I remember once being told by a now defunct B lender to make up a gift letter. I wouldn't do it, even though they insisted that they just needed a piece of paper for the file.

    If I suspected a letter confirming employment or down payment supplied by a client was false, I called to verify myself. There isn't really an excuse for such a thing.
  • kac | 17 Sep 2013, 01:02 PM Agree 0
    obviously over stepping the boundaries is wrong for anyone. With the amount of negative publicity regarding mortgage brokers and practices,i recently applied for mortgage financing with a chartered bank and gave full disclosure of properties,assets and liabilities and was asked by the bank rep to offer a rental agreement for a property i disclosed to be a recreational property with no income attached to it,when i asked why i would do so as i knew this income was not required there was silence on the phone,i inquired whether he had sold the mortgage to his boss's this way to make the application look more impressive and as suspected this was the case. I have also found myself outsourcing a lot of mortgages through RBC mortgage specialist's lately for mortgages that lenders through the broker channel have either been unable or in most cases unwilling to go the extra mile to have the applications approved and it is very interesting to see how these bank reps get approvals and consider it creative underwriting and if a licensed broker applies the same technique they are considered a crook.
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