Mortgage Brokering in Ontario
Expropriation explained
Expropriation According to section 1 of the Expropriations Act, expropriation means “the taking of land without the consent of the owner by an expropriating authority in the exercise of its statutory powers”[i]. Considering that land ownership is a cornerstone of our society, the ability of the government to take an owner’s land is a terrifying […]
Expropriation explained
Expropriation According to section 1 of the Expropriations Act, expropriation means “the taking of land without the consent of the owner by an expropriating authority in the exercise of its statutory powers”[i]. Considering that land ownership is a cornerstone of our society, the ability of the government to take an owner’s land is a terrifying […]
HLLQP: REMIC provides HLLQP Life Agent Licensing Course
REMIC Fills Need for Younger Life Insurance Agents with HLLQP Course Canadian-based REMIC is now providing the Harmonized Life License Qualification Program (HLLQP), a requirement to become a licensed life insurance agent in Canada TORONTO – Feb. 28, 2017 – REMIC, the Real Estate and Mortgage Institute of Canada, today announced the company has officially […]
What You Should Know About Advertising As a Mortgage Broker
Here are some Do’s and Don’ts for advertising your mortgage business When a brokerage is developing policies and procedures that ensure its public relations materials are compliant, it may wish to include some of the following advertising tips from the Competition Bureau of Canada. Do: Do avoid fine print disclaimers. They often fail to change […]
Why People Do Bad Things… like commit fraud
Why People Do Bad Things… like commit fraud Traditionally, when we think about bad behavior, fraud for example, we think about character. But psychologists who study bad behavior — who study, say, fraud in the business world — have found that that character doesn’t explain everything. They’ve found that a lot of unethical behavior can […]
Property Value Fraud
Property Value Fraud The Appraisal Property value fraud can occur when criminals, in association with a dishonest appraiser, may have a property appraised at a higher value than it is worth. The criminal will then obtain a mortgage based on the inflated value and abscond with the money. This results in the lender taking possession […]
11 Ways Consumers Can Prevent Mortgage Fraud
11 Ways Consumers Can Prevent Mortgage Fraud While there are several methods available to industry participants to assist in preventing fraud, there are also several approaches available to consumers. The following advice should be given to a mortgage agent’s client. Title Insurance Consumers should obtain title insurance on every property that they buy and get […]
5 Defects to Avoid in a Mortgage Contract
5 Defects to Avoid in a Contract A contractual defect is a significant flaw in a contract that affects the intention to create a legal relationship, causing the contract to be void or voidable. This type of defect can be caused by:• Misrepresentation• Duress• Undue Influence • Unconscionable Acts• Mistakes. Misrepresentation Misrepresentation is a false […]
Property Insurance in Canada
What is Property Insurance? Property insurance is a policy of insurance that provides coverage for the homeowner against covered risks. Why is it necessary? Basic insurance to cover the replacement of the building (normally the house) and other structures on the property is vital to lenders and is a requirement of the Standard Charge Terms. […]
