Mortgage associations present recommendations to regulators
B.C.’s broker association has now formally presented recommendations to the Regulator's Council of Canada explicitly calling for bank representatives to fall under the same regulations as mortgage brokers.
Tougher MIC rules benefit everyone
Tougher MIC rules mean a better, stronger MIC community within the broker channel, says one Alberta broker whose family has been operating a MIC for some 30 years.
Outgoing MBABC president Dreyer looks back, looks ahead
When Dreyer took the reins as president of the MBABC back in May of 2012, he told MortgageBrokerNews.ca that “it is imperative that our board work with these regulators and lenders to ensure the proposed policies create a strong economic environment for Canada while continuing to make home ownership accessible to all Canadians.”
Extension granted on MIC regulations
There will be a few more months of talks on how B.C.’s MIC regulations will take shape, as the exemption deadline for dealer registration has been pushed back by the British Columbia Securities Commission for another year.
Western brokers to establish education platform
The Alberta and B.C. mortgage brokers associations announced yesterday they are establishing a Western Canadian education platform for members.
Brokers erring on the side of caution at tax time
Has Canada Revenue put the fear of God into brokers? Well, at least the fear of an audit, if the latest MortgageBrokerNews poll is any indication.
Notary suspension offers lesson for brokers
The suspension of a Vancouver notary over possible mortgage irregularities underlines the need for brokers to uphold standards of professionalism and integrity, says MBABC CEO Samantha Gale.
Association arms brokers for a fair fight
The Mortgage Brokers Association of B.C. is following its Ontario counterpart in offering member coverage for legal services in the event of an investigation by FICOM or a CRA audit.
B.C. brokers urge a rethink of planned MIC regs
MBABC is asking the securities commission to rethink how it will regulate MICs in B.C.
Rent-to-own site skirts around broker regulations
A handful of con artists misusing the rent-to-own model are increasingly running afoul of provincial mortgage broker legislation, claiming they can arrange home loans without broker accreditation.