Mortgage Brokering Technical Advisory Committee
Meeting summary
Date: Thursday, February 29, 2024
Time: 10:00 a.m. to 12:00 p.m.
Location: 25 Sheppard Avenue West, Suite 100
Toronto, ON M2N 6S6
Videoconference – Microsoft Teams
This summary sets out the key points discussed at the February 29, 2024, meeting.
Welcome
The Chair welcomed and introduced new members to the TAC and highlighted the purpose of the Committee and the Rules of Engagement.
Upcoming Principal Broker (PB) Guidance and Symposium
The Committee was presented with an overview of the upcoming PB Guidance. FSRA highlighted the importance of strong conduct and compliance culture in prevention of poor or unfair outcomes for a brokerage’s clients. FSRA also shared its proposal to hold a Principal Broker-focused Symposium. FSRA sought recommendations from the Committee on topics of interest and the format of the event.
Roundtable discussion: Trends and emerging issues
FSRA and the Committee discussed observations about recent trends and emerging issues in the mortgage industry, including the increase in the selling of high-risk investment to retail investors.
Mortgage Fraud Guidance webinar and FSRA’s plan for Fraud Month
FSRA shared the information regarding the Detecting and Preventing Mortgage Fraud webinar highlighting licensee requirements and best practices, as outlined in the associated Interpretation Guidance, and a webinar on door-to-door scams co-hosted with Elder Abuse Prevention Ontario (EAPO).
Proposed Broker/Agent Reporting Form
FSRA shared the purpose, the planned components and usage of the Proposed Broker/Agent Reporting Form.
Next meeting
The next meeting is on Tuesday, June 4, 2024.
Attendance record (members)
|
Invited/Attended |
Company name |
|---|---|
|
Sadiq Boodoo |
Approved Financial Services |
|
Guido Di Franco |
Richview Capital MIC Inc. / Mortgage Architects Experts |
|
Kevin Fettig |
CMI Financial Group |
|
Carla Gervais |
The Mortgage Advisors (Verico) |
|
Elizabeth Gnoinski |
Boss Mortgages – The Mortgage Center |
|
Alex Leduc |
Perch (Mortgauge) |
|
Dong Lee |
DLCG / Mortgage Architects |
|
David Morrison |
Morrison Financial |
|
Sona Shah |
Spergel Licensed Insolvency Trustees Inc. |
|
Anisa Sherwood Lancione |
Mortgage Brokers City |
|
Daniel Vyner |
DV Capital |
|
Kate Wybrow |
FCT |
|
Monica Liang |
Ministry of Finance (Observer) |
FSRA members present:
Rocca D’Angela, Nadiatou Fagbemi, Jason Harris, Jennie Hodgson, Wendy Horrobin, Lucy Kang, Kelly Le, Antoinette Leung, Cheryl Mak, Jelena Pejic, Jessica Rose, Elissa Sinha, Gina Stephens, Cheryl Szutu, Dave Veeren, Tyler Zheng, Chris Zolis
Available in French upon request