ID
2025-003

Type
Politique
Secteur
Courtage d’hypothèques
État
Période de commentaires du public terminée
Date
23 janvier 2025
Date de remise des commentaires
9 avril 2025

Nous vous remercions de nous avoir fait part de vos commentaires sur le consultation sur le projet de ligne directrice intitulée : Utilisation de noms d’équipe dans le secteur du courtage hypothécaire.

La demande de soumissions est maintenant fermée.

Nous apprécions les commentaires et les questions reçus à ce jour et nous avons hâte de partager avec vous la version finale de la ligne directrice. Restez au fait des lignes directrices publiées dans notre salle de presse. Suivez-nous sur LinkedIn et inscrivez-vous à notre liste de diffusion pour obtenir des mises à jour rapides.

L’Autorité ontarienne de réglementation des services financiers (ARSF) sollicite actuellement des commentaires sur un projet de ligne directrice décrivant les conditions dans lesquelles les agents et courtiers en hypothèques peuvent utiliser des noms d’équipe dans leur publicité. Cette ligne directrice proposée fait partie des efforts déployés par l’ARSF pour garantir la clarté et la responsabilité dans le secteur du courtage hypothécaire.

La ligne directrice proposée par l’ARSF précisera que toute publicité d’une équipe doit afficher clairement le nom et le numéro de permis de la maison de courtage qui l’autorise, et ce, afin de réduire le risque de confusion des consommateurs quant à l’identité et à la responsabilité de la maison de courtage. La consultation vise à déterminer si les noms d’équipe peuvent être utilisés, et de quelle manière, tout en préservant la transparence et la conformité.

L’ARSF invite les intervenants à faire part de leurs commentaires sur la ligne directrice proposée afin de s’assurer que les pratiques publicitaires sont claires et équitables pour les consommateurs.

Questions aux intervenants

  1. Sur une échelle de 1 à 5, quelle est la probabilité que la nouvelle ligne directrice sur les noms d’équipe réduise la confusion des clients? (1 = peu probable, 5 = très probable)
  2. Sur une échelle de 1 à 5, quelle est la probabilité que la nouvelle ligne directrice sur les noms d’équipe garantisse que la maison de courtage demeurera responsable de la conduite de l’équipe? (1 = peu probable, 5 = très probable)
  3. À votre avis, comment peut-on renforcer ces exigences pour obtenir de tels résultats?
  4. Sur une échelle de 1 à 5, quelle est la probabilité que l’utilisation de noms d’équipe réduise l’efficacité d’une maison de courtage? (1 = peu probable, 5 = très probable)
  5. Sur une échelle de 1 à 5, quelle est la probabilité que l’utilisation de noms d’équipe réduise l’efficacité du courtier principal qui supervise de telles équipes? (1 = peu probable, 5 = très probable)
  6. À votre avis, que pourrait-on faire pour améliorer l’efficacité des noms d’équipe?

La période de consultation est ouverte et se clôturera le 9 avril 2025.

Pour en savoir plus :

L’ARSF continue de travailler au nom de l’ensemble des intervenants, y compris les consommateurs, pour garantir la sécurité financière, l’équité et le choix de toutes et tous.

Pour en savoir plus : www.fsrao.ca.

Secteur Commentaire Date
[2025-003] Mortgage Professionals Canada - Mortgage Professionals Canada
Courtage d’hypothèques
[2025-003] Julie Sheremeto - The Mortgage Advisors
I feel as though much greater consideration needs to be placed on the new policies being implemented for teams operating under a mortgage brokerage. Effectively, teams need to be able to brand and advertise for them to function. Requiring approval and branding from the mortgage brokerage, means that there's additional confusion for clients (seeing two logos for example). There should be a way for mortgage brokers to register a DOING BUSINESS AS name so that they can advertise their team without needing to also provide the logo and registration information from the brokerage. If a DOING BUSINESS AS name was permitted, the requirement for it to show that it's registered under the mortgage brokerage would be ok, because then a consumer can look up the registration of that name and see that they are licensed. Putting a band-aid on an already broken system is not helping clarify anything for consumers (who have already been confused by the Level 1 and Level 2 requirements), but it is making it impossible for those of us who are INDEPENDENT CONTRACTORS, not employees, operate and succeed in being self-employed. We are already essentially treated as employees based on the expectations on a principal broker for ensuring compliance with the Act but without any of the benefits of being an employee. The entire structure needs to be revisited and I truly hope that FSRA considers the unforeseen consequences of simply tweaking a broken system when it could be innovative and forward thinking to better serve consumers AND mortgage agents & brokers alike. There are also several brokers who are licensed in more than one province, given the ridiculous nature of provincial licensing, and with each province providing their own regulations it makes it virtually impossible to do business and be compliant in all jurisdictions.
Courtage d’hypothèques
[2025-003] Sadiq Boodoo - Approved Financial Services Inc.
Please see the attached document for feedback on the proposed guidance for team names.
Courtage d’hypothèques
[2025-003] Sean Binkley - DLC SkyCap Mortgage
Hello, please find my comments attached. Thank you for addressing this issue and looking forward to a fair and reasonable outcome.
Courtage d’hypothèques
[2025-003] Carla Gervais - The Mortgage Advisors
On a scale of 1 to 5, how likely will the new guidance on team names lessen client confusion?

5 very likely - it puts clear message PB's can integrate into monitoring team names and having the brokerage name equally prominent.

On a scale of 1 to 5, how likely will the new guidance on team names ensure the brokerage remains accountable for the team's conduct? 5 with clear guidelines it allows agents to brand have URL and their own name within a brokerage. Clients remember the agent not the firm, but I like that all documents must remain in the brokerage name.

In your opinion, how can these requirements be strengthened to achieve these outcomes?

With marketing and social media done by individuals it allows agents to build an audience and improve their business. All profiles should include the full brokerage name and lic number of the brokerage at the top. Same as websites.

On a scale of 1 to 5, how likely would the use of team names reduce the effectiveness of a brokerage?
1 not likely - majority of brokers/agents build a brand and a name and are relationship driven by the individual outside of the brokerage name (Unless you are an online lead only brokerage). It doesn't in my opinion affect the effectiveness of the brokerage if it is clear that is whom the team is connected to.

On a scale of 1 to 5, how likely would the use of team names reduce the effectiveness of the principal broker supervising those teams? (1 = not likely, 5 = very likely)
1. Not likely at all, supervision process policy all remains the same, the use of team names is typical for online and social presence as long as it is always knows what brokerage they are connected and licensed with.

In your opinion, what could be done to improve the effectiveness of team names?
Team Name - Brokerage name on marketing - all documents must contain only brokerage name. I think it is long over due - many have promoted a "website" or a profile that is a team name already. This just makes the policy clear and allows a brokerage to deliver the message and implement policy as such.
Courtage d’hypothèques
[2025-003] Stephen Boileau - Real Mortgage Associates
Good Morning, To answer with regards to the use of team names.
Questions for Stakeholders:

On a scale of 1 to 5, how likely will the new guidance on team names lessen client confusion? (1 = not likely, 5 = very likely) = 5 ; To be able to operate under a team name with proper supervision of the brokerage I believe client interaction will improve and general assumptions will not be made.
On a scale of 1 to 5, how likely will the new guidance on team names ensure the brokerage remains accountable for the team's conduct? (1 = not likely, 5 = very likely) = 5 by ensuring brokerage license number is included and proper advertising guidelines followed nothing ultimately changes as ultimate responsibility lies with broker of record and agent/broker responsibility remains.
In your opinion, how can these requirements be strengthened to achieve these outcomes? The honest agents and brokers will continue to want the system improved in order to remove those who do not follow proper advertising guidelines.
On a scale of 1 to 5, how likely would the use of team names reduce the effectiveness of a brokerage? (1 = not likely, 5 = very likely) = 1 broker effectiveness remains the same if anything it will improve not reduce the overall effectiveness as teams could hopefully be monitored better overall
On a scale of 1 to 5, how likely would the use of team names reduce the effectiveness of the principal broker supervising those teams? (1 = not likely, 5 = very likely) = 3 Principal broker may entrust leads for the supervision and that could lead to some confusion.
In your opinion, what could be done to improve the effectiveness of team names? Allow it, with at least a broker license attached to a team. Anyone that has gotten their broker license do have the capacity to take on responsibility while not necessarily opening their own brokerage due to size or volume of business capabilities.

Thank you
Courtage d’hypothèques
[2025-003] Mike Dias - DNA Lending Group
Being a registered brokerage and the responsibility that comes with that to ensure clients are protected and well looked and guidelines and policies are adhered to is less important if anyone can come across as a brokerage when they are a team. It almost seems that allowing team names as if they are a brokerage themselves would hinder our industry rather then help protect it.
Courtage d’hypothèques
[2025-003] Sriram Rangan - Mortgage Alliance
On a scale of 1 to 5, how likely will the new guidance on team names lessen client confusion? Answer: 1, as long as clients ultimately can see the licensed individuals information and brokerage information, the team name just allows for branding and familiarity to be built in marketing, similar to realtors operating within a brokerage but branding as a team.

On a scale of 1 to 5, how likely will the new guidance on team names ensure the brokerage remains accountable for the team's conduct? Answer: 5, the team name is just branding, the compliance/training/processes will still need to be managed and monitored by the brokerage

In your opinion, how can these requirements be strengthened to achieve these outcomes? Include requirement to note "team with [brokerage name]" so clients know that this is a team that is apart of the brokerage

On a scale of 1 to 5, how likely would the use of team names reduce the effectiveness of a brokerage? (1 = not likely, 5 = very likely) - answer: 1, again as this is just a branding aspect, the brokerage operations wouldn't be impacted, rather just gives brokers/agents a chance to build their personal brand and drive more business through marketing efforts

On a scale of 1 to 5, how likely would the use of team names reduce the effectiveness of the principal broker supervising those teams? (1 = not likely, 5 = very likely) - answer 1: again this team name is just a name, larger brokerages already have teams structures setup under them and the compliance/process wouldn't change just because they have team name

In your opinion, what could be done to improve the effectiveness of team names? The proposed rules are great, allowing for free use of team names with equal prominence to the brokerage name i.e. I don't believe there should restrictions or certain formats the name should follow as this limits creativity and branding flexibility
Courtage d’hypothèques
[2025-003] Hussain - HVR FINANCIAL INC
Questions for Stakeholders

1. On a scale of 1 to 5, how likely will the new guidance on team names lessen client confusion? (1 = not likely, 5 = very likely)
Ans= 1. ( Generally a team will have more than one person, Clients when speaking to more than one person don't remember who they spoke to. If incorrect information is provided be a team member there are mor changes of mistakes being had in the mortgage qualifying process on the advisory level. )

2. On a scale of 1 to 5, how likely will the new guidance on team names ensure the brokerage remains accountable for the team's conduct? (1 = not likely, 5 = very likely)
Ans: 1 ( this will cause issues when reviews are conducted on performance and accuracy on dealing with clients. If a team is being build then a record of every individual who deals with the client in question will need to be kept. any issues developing from improper advise will have to be delt with in accordance to the team as the responsibility is shared equally. This could be unfair to other in the team. Additional records will need to be kept along with additional training. This adds to unnecessary cost to the brokerage - NOT NEEDED)

3. In your opinion, how can these requirements be strengthened to achieve these outcomes?
On a scale of 1 to 5, how likely would the use of team names reduce the effectiveness of a brokerage? (1 = not likely, 5 = very likely) Ans: 1 (it does not reduce the effectiveness of any brokerage as the performance on each file being handle is the responsibility of the agent working it. This will lead to more confusion and will be more unnecessary work for the principal broker and will interrupt the smooth function of the brokerage.)

4.On a scale of 1 to 5, how likely would the use of team names reduce the effectiveness of the principal broker supervising those teams? (1 = not likely, 5 = very likely) Ans: 1 (On the contrary it will make it more difficult as more monitoring will be required so to catch mistakes being made by in experienced agents. each file have to be reviewed to see who and what was stated by the agent and the what out come was obtained . Then there is the question of accountability do you hold the full team as being responsible for any mistakes or just the people who worked on the file. ? If the later is correct they why create a team in the first place leave things as they are.)

5. In your opinion, what could be done to improve the effectiveness of team names?
Ans: First and foremost , this is a stupid proposal. Effectively introducing this method increases the work loads for the Principal broker dramatically. One would have to monitor every member in every team to insure that the individual is compliant at all times. Effectiveness can only be had if each team is registered with FSRA as a Level 1 or Level 2 team with appropriate restrictions, this will determine the type of mortgage each team is legally allowed to undertake. (Ie. dealing in new mortgages for purchases of homes or dealing with private lenders or both.) The details of the team lead and monitoring requirements of each team member will need to be outlined to FSRA for transparency purposes. This is more work for the Principal Broker and does not help the brokerage in closing more deals nor does it improve the process for the client. Instead it removes the personal touch that the client craves and currently experiences with having one agent / broker. Remember what we do as brokers and agents is not a production line, instead we evaluate each client with care and precession, ensuring all documents submitted are true and correct. This element will be lost the moment we have teams, as this will lead to competition within the brokerage to see which team can close more deals. The process will become about money and number of deals closed and not about the care exercised with all clients across the board. As mentioned previously, this is a Stupid proposal and should not be entertained perhaps FSRA needs to review and take a page out of the Financial Conduct Authority ( FCA ) guidance on regulations from the UK to come up with protocols for fair treatment of clients and operation of brokerages with specific do 's and don't, that way there are no grey areas and everything is well defined in stone. After all this all process is about fair treatment for the consumer isn't it?
Secteur Question et réponse
Courtage d’hypothèques

Question: Hi there,

FSRA guidelines currently state:
You cannot advertise under your “team” name if you lead a team of mortgage agents. Advertising must be in the name of a licensed brokerage. To advertise under a team name would require that the team be licensed as a brokerage.

Does this mean that agents/brokers can in fact use Team Names as long as it's indicated that they are powered or authorized by the sponsoring brokerage?

FSRA réponse:

Thank you for your inquiry. FSRA will take into consideration all stakeholder feeedback submitted for this consultation to determine if and how team names can be used while maintaining transparency and compliance.
Courtage d’hypothèques

Question: Regarding the use of team names in the mortgage brokering sector:
1. Please clarify. On Team Name advertising, the mandatory items are Team Name, Brokerage name and license number, Team leader name and title.

2. Does anything prevent a mortgage agent or broker from advertising a team name if they don't actually have a team of any kind? Ie. Joe Smith advertising "Smith Mortgage Team", when Joe smith doesn't have any team members.

Thanks
Kurt Henry

FSRA réponse:

Thank you for your inquiry. FSRA will take into consideration all stakeholder feeedback submitted for this consultation to determine if and how team names can be used while maintaining transparency and compliance.