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Loans Canada is Not Licensed to Conduct Mortgage Business in Ontario

The Financial Services Regulatory Authority of Ontario (FSRA) previously warned consumers on February 9, 2021 that Loans Canada is not licensed to conduct mortgage business in Ontario.

Please be advised that Loans Canada has now removed all requests for information that would indicate mortgage solicitation.

Consumers are encouraged to check the public registry to ensure they are working with a licensed mortgage broker, agent, brokerage, or administrator.

FSRA licenses mortgage brokerages, brokers and agents to safeguard public confidence and trust in Ontario’s financial services. If consumers obtain a mortgage through individuals or companies not licensed by FSRA, they are not protected under the Mortgage Brokerages, Lenders and Administrators Act, 2006 and its regulations that govern Ontario's licensed mortgage brokerages, brokers and agents.

The Financial Services Regulatory Authority of Ontario (FSRA) is continuing to work with those we regulate to ensure financial safety, fairness and choice for consumers and members. Learn more at www.fsrao.ca.

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