Last week, the Registrar of Mortgage Brokers (Registrar) issued a Cease and Desist Order against former registrants Justin Phu Pham and Verico
JP Elite Mortgage Inc. dba JP Elite Mortgage.
In its order, the Registrar stated that it found Pham and JP Elite liable for violating section 21 of the Mortgage Brokers Act by carrying on business as a mortgage broker when not registered to do so.
Pham and JP Elite have thus been ordered to cease and desist engaging in mortgage broker activity in the Province of British Columbia, effective immediately, unless and until registered to do so.
Registrar issues administrative penalties for unregistered broker