WELCOME

To the home of: MQCC® PRIVATELENDER.ORG: Canada-Global Private Lending Network® Services

THE POWER OF PRIVATE LENDING®

For Government Licensed and Regulated and Professionally Errors and Omissions Liability Insured Mortgage Brokers; SINCE BEFORE APRIL 9, 2005

Canada and International (in up to 118+ Countries; see network.mqcc.org)

MQCC® PRIVATELENDER.ORG® RESULTS LIST:

A Small Sample of Success Examples: MQCC® PRIVATLENDER.org over 20 Years of Online Business since before April 9, 2005 The Power of Private Lending®


Since before incorporation, MQCC® PrivateLender.org has helped countless mortgage borrowers and mortgage brokers and mortgage agents with critical and complex files including the following situations:

Not a complete list of examples of MQCC® “THE POWER OF PRIVATE LENDING® Registered Trademark Brand of Services.

MQCC® Power of Private Lending® Brochure

MQCC® PRIVATELENDER.org: Private Lending Network™/®

FULLY INDEMNIFIED "PRIVATE LENDING" for Retail Consumer Mortgage Brokers without Regulatory-Recognized or Federal (National) Standards-based Expert-Level Experience in "private lending*"

Your Supplier for Secured, Unsecured and Hybrid-Secured Financing 

(Visit www.ip2pfa.org to learn more about misunderstanding of the term: "private lending".)

15+ Years of HELPING and PROTECTING CONSUMER-GRADE ORIGINATING MORTGAGE BROKERS™


A Break-through in Government Regulated Mortgage Broker Supervisory Activity Prudence and Safety through Federal (National) Standards-integrated Safety and Quality Systems 

Welcome to broker.mortgagequote.ca, your home of FULLY INDEMNIFIED "PRIVATE LENDING" for GOVERNMENT REGULATED Mortgage Brokerages, Mortgage Brokers, Mortgage Agents; and FIDUCIARY OFFICERS and DIRECTORS of mortgage broker companies including Chief Executive Officers (CEO) and Designated Individuals.


PRIVATELENDER.org: CANADA'S PRIVATE LENDING NETWORK® Established on April 9, 2005; Canada's only National Standards integrated artificial intelligence (ai) commercialized quantum computing (CQC™) risk-based, finance origination, investment, intermediation and management system-network. For over 2 decades, MQCC® Top Management are expert in critical and complex financing files. FULLY INDEMNIFIED (VIA ERRORS AND OMISSIONS INSURED, CO-BROKER OBLIGATIONS) PRIVATE (Non-Bank, Non-Institutional, Non-Syndicated, Non-Regulated or Regulatory Exempt, Free Trading Finance; also known as Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow Finance; Source: International Peer-to-Peer (P2P) & Private Finance Association IP2PFA™ (www.ip2pfa.org)) LENDING ORIGINATION AND INTERMEDIATION for GOVERNMENT REGULATED MORTGAGE BROKERAGES, MORTGAGE BROKERS, SUB-BROKERS, AGENTS, UNLICENSED ASSISTANTS; PRINCIPAL BROKERS AND DESIGNATED BROKERS; INVESTORS AND LENDERS.

Harness THE POWER OF BLOCKCHAIN®

Home to the Canadian Industry Standard for SAFER PRIVATE LENDING™, achieved by

Federal Canadian (including USA, UK and 118+ Countries) National Standards-registered, Consumer, Regulator and Liability Insurance-Integrated: Safe, Reliable, Good; Better, Safer and More Efficient™ operations resulting in:

PUBLIC and PRIVATE REGULATORY EXCELLENCE * PUBLIC TRUST AND CONFIDENCE * REGULATEE or LICENSEE ORGANIZATIONAL (Corporation and Individual (COIN™) RESILIENCE

through the correct and proper application of principles, concepts and core methods of non-novel (exact) conformity science (www.conformity.org)

Since at least as early as May 9, 2008.

Brokers (Intermediaries) Mortgages and Loans

Attorney, Lawyer, Realtor and other Regulated Professional Referrals

Government and Non-Government Licensed and Regulated

Canada - International

MQCC® MortgageQuote Canada Corp. - Power of Private Lending® - Regulated Mortgage Broker Channel - PEM® Brand of Private Equity Mortgage Products and Services

An initiative of MQCC® MortgageQuote Canada Corp. in collaboration with:

Welcome to MQCC™ MortgageQuote Canada Corp. PrivateLender.org: Private Lending Network™/®; the World's First, Proven and Trusted Global Private (Crypto; non-Crypto) Financial Network™ since at least as early as April 9,2005. 

Government Regulated Mortgage Broker and Regulatory Exempt Intermediary page.


PrivateLender.org: Private Lending Network™/® (www.privatelender.org) originally programmed and brought online on April 9, 2005 by Santosh K. Bungay for his brother, Anoop K. Bungay's Non-Bank, Non-Institutional, Non-Syndicated, Non-Regulated or Regulatory Exempt, Free Trading Finance; also known as Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow Finance  (see International Peer-to-Peer (P2P) & Private Finance Association IP2PFA™ www.ip2pfa.org) business for the trading in utility tokens, securities tokens, conformity tokens, quality tokens, fungible tokens (FT) and non-fungible tokens (NFT) and First brought online on April 9, 2005, PrivateLender.org: Canada's Private Lending Network® & Global Private Lending Network™ is the not only the "Word's First and Most Trusted Global Private (Crypto; non-Crypto) Financial Network"; PrivateLender.org is the "World's First Hybrid-Regulatory Integrated, trademark "Principles of 'BlockChain'™"-based" Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow Finance System-Network."


Setting the Global Standard for quality, compliance, enforced compliance (conformity) safety and risk reduction in Peer-to-Peer(P2P)/Private/Crypto/Secret: lending, investing & finance transactions within an expert system that is registered for statutory, regulatory and process conformity to the International and National Standards of 119 Countries since at least before April 9, 2005.


Making Peer-to-Peer(P2P)/Private/Crypto/Secret Financial Transactions, Safer, Better and More Efficient for Consumers, Industry and Government. 

MQCC® Home of the MQCC® CHATBOT MORTGAGE™: www.ChatBotMortgage.com

Powered by MQCC® BLOCKCHAIN ROBOTX™

Commercial origination, manufacture, trading and intermediation of:

Non-Bank, Non-Institutional, Non-Syndicated, Non-Regulated or Regulatory Exempt, Free Trading Finance; also known as Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow Finance Securities in:

Managed for risk, regulatory integrity, customer satisfaction and professional liability (errors and omission) prevention, detection and corrective action using:

MQCC™ BLOCKCHAIN™ trademark brand, conformity science-based, Quality Management System services

MQCC™ BITCOIN™ trademark brand, conformity science-based, brand Quality Management System services

MQCC™ CRYPTO™ trademark brand, conformity science-based, brand Quality Management System services

World's First and Most Tested, Most Trusted Securities Token Available world-wide in up to 118+ Countries under the following trademark brand names:

BITMORTGAGE® 

Non-Bank, Non-Institutional, Non-Syndicated, Non-Regulated or Regulatory Exempt, Free Trading Finance; also known as Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow Finance Securities

"Do Private Lending Right™": At the Regulatory-Recognized National Standard of Quality, Safety and Efficiency™

As Canada's National Standard for Safe, Reliable, Good; Better Safer and More Efficient™  Private Lending, if your Government Licensed Mortgage Broker is using MQCC™ PrivateLender.org: Private Lending Network™, you are Assured that they are Doing Private Lending Right!

Why do Risk-Aware, Quality-Minded, Experienced, Discerning, CEO's, Designated Brokers and Brokers-of-Record of Government Licensed Mortgage Brokerage Firms Choose the MQCC™ PrivateLender.org: Private Lending Network™/® for all of their Organization's:

Non-Bank, Non-Institutional, Non-Syndicated, Non-Regulated or Regulatory Exempt, Free Trading Finance; also known as Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow Finance

Licensed Mortgage Agent-Originated, Consumer and Commercial Mortgage Transactions?

MQCC® preference is to have you email MQCC® since phone calls are not normally safe as a means to do business, for either you nor MQCC® -- you are safer by chatting via email using the MQCC® Meta Quantum Cloud Computing™ brand of General Processing Interface GPT™ which is driven by the MQCC® Artificial Intelligence Mortgage Engine™ (AI MORTGAGE ENGINE™) --- a virtual software agent (robot) described as "a virtual process processing, hybrid-human computer-based process system-network designed to manage risk and increase economic value in an efficient manner with virtually zero instances of nonconformity including errors, omissions, incompetence and fraud; in a regulatory-integrated supervisory system that meets or exceeds Federal (National) je dure (recognized) Standards in 118+ Countries - visit www.mqcc.org to learn more." 

This is NOT a complete list of benefits to Risk-Aware, Quality-Minded, Experienced, Discerning, CEO's, Designated Brokers and Brokers-of-Record of Government Licensed Mortgage Brokerage Firms.

Seek First to Understand: Learn then Earn™

SAFER™ PRIVATE LENDING

The textbook that started it all.

 MQCC SAFER™ Peer-to-Peer (P2P)/Private/ Crypto/Secret/Shadow Finance: Be The Bank® Series "Private Lending" Program

ONTARIO: FSRA

READ THE LETTER

British Columbia BC: BCFSA

READ THE TEXTBOOK at Amazon® or Google Play®

 Legislator, Regulator & CEO Conformity Handbook: British Columbia (BC), Canada; Finance Sector Edition: Spring 2020

Canada

2018 “A Review into the Merits of Open Banking”: Department of Finance, Canada. 

ob-bo-52.pdf

2019 TREASURY BOARD SECRETARIAT

Regulatory modernization

Canada

Submission to Treasury Board of Canada; All Canadians and International Stakeholders re: Modernizing Canadian Regulatory Systems and International Equivalent Governing Systems - November 13, 2019 (CUV™)

2019 Subject: MQCC - Government of Alberta: Offer-to-Assist Government of Alberta Ministers re: Corrective Action and Sector Improvement of Alberta Regulatory Bodies (AER/RECA); Real Estate Council of Alberta (RECA); Alberta Energy Regulator (AER) 

Minister of Environment and Parks, House Leader   

Honourable Jason Nixon


Minister of Energy, Deputy House Leader

Honourable Sonya Savage


Minister of Service Alberta   

Honourable Nate Glubish


Auditor General of Alberta

Doug Wylie FCPA, FCMA, ICD.D


Alberta Ethics Commissioner

Office of the Ethics Commissioner

Honourable Marguerite Trussler, QC    

 

Public Interest Commissioner 

Marianne Ryan  

 

See page 89 (click here) of the 2019 TREASURY BOARD SECRETARIAT

Regulatory modernization

Canada Document

2019 CMHC BLOCKCHAIN™ 


Canadian National Standard-class

MQCC™ Canada Mortgage/d’Hypothèques Conformity (CMHC) BlockChain

Sector & Function Resource Manual


Submission to Treasury Board of Canada; All Canadians and International Stakeholders re: Modernizing Canadian Regulatory Systems and International Equivalent Governing Systems - November 13, 2019 (CUV™)

2022 BCFSA BC Financial Services Authority (Blair Morrison) and CMBBC Canadian Mortgage Brokers Association BC (Deb White)

Letter to CMBBC - BCFSA - 10-Feb-22 - Canadian Mortgage Brokers Association BC - BC Financial Services Agency BCFSA Top Management

Canada: MBRCC Mortgage Broker Regulators' Council of Canada & Other Regulatory Bodies

READ THE TEXTBOOK at Amazon® or Google Play®

Teaching SEC™: SCIENTISTS, SECURITIES: Regulator-Policy Maker-Investigator-Lawyer; EXCHANGE, LAW ENFORCEMENT, EDUCATORS: Officers; CHIEF EXECUTIVES: Top Management-CEO of Regulatory & Regulated Bodies

Author: Anoop Bungay

Government and Non-Government Licensed and Regulated Credit Intermediaries (loan brokers and mortgage brokers); do "private finance" and "private lending" right (correctly and properly) -- do it to the Canada's Federal National and International Equivalent (in 118+ Countries) Standard; better, safer and more efficiently, with MQCC™.

HOME TO CANADA and the WORLD'S SAFER™ BRAND STANDARD FOR PRIVATE (Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow) FINANCE

Welcome the global home of MQCC™ Canada-International, Sustainable, Accountable, Flexible-Fair-Fiduciary-Frank, Efficient, Regulated-Respectful-Realistic (SAFER™) “Private Lending” Program (safer.mqcc.org for project summary) and "the MQCC LOSS-LESS Origination" Program for Government Licensed Mortgage Brokers

who originate non-bank, non-institutional, non-syndicated, non-regulated or regulatory exempt and free trading; also known as Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow real-estate-secured and non-real-estate-secured (unsecured) financial instruments (mortgages).

MQCC: Canada's ONLY National, International Standards (NISC) Class Regulatory Compliant,

Non-Bank, Private Mortgage Lending Solutions

  

Licensed Mortgage Brokers


Powered by LENDING LOOP®: Enabling Person-to-Person Mortgage Capital through Licensed Mortgage Brokers. Making money go round.

LENDING LOOPTM: Enabling Person-to-Person Mortgage Capital. Making money go round. 

It is said that "money makes the world go round". MortgageQuote's LENDING LOOPTM services brings the money directly to you through our network of Licensed Brokers and Professionals (Legal, Accounting, Trust). 


Registered LENDING LOOPTM network users, login here.


Learn about Person-to-Person Mortgage Capital at lendingloop.mortgagequote.ca

Home of the Entrepreneur Options Creative Mortgage Financing and Federal Government, Trademark Registered Venture Capital, High Ratio Private Mortgage: VenCap PRV® Programs

LENDING LOOPTM: Enabling Person-to-Person (P2P) Mortgage Capital since 2006. Making money go round.


(services available to all persons, from any country: Canada, USA & International) 

Licensed Brokers

Register in our LENDING LOOPTM to become a broker and earn more! MortgageQuote.ca distributes its wide range of equity mortgage products through select mortgage brokers in Canada. If you are a licensed mortgage in the jurisdictions in which we serve and you are looking for a good quality source of equity mortgage investment capital, please contact us or introduce yourself by email to underwriting[at]mortgagequote.ca.


Jurisdiction

Presently, we offer mortgage broker service in Alberta (AB) , British Columbia (BC) , Ontario (ON) and select regions throughout North America.


Licensing

How do you know if you are licensed in a jurisdiction? Visit licensing.mortgagequote.ca to see if a person or company is licensed to trade in a jurisdiction that we serve.


Broker Support Site

Existing mortgage brokers can visit our broker support website at broker.mortgagequote.ca.


Professional Referrals

Lawyers, Trustees, Referral Companies are automatically part of LENDING LOOPTM, no need to register. Simply reach out to us and we will work with you. Please email underwriting[at]mortgagequote.ca.


Other

General Public

If you are a member of the general public (non-licensed, non-professional individuals and companies) and would like to refer a person to MortgageQuote directly, visit: Refer-A-Friend section to learn more.


Contents


It is said that "money makes the world go round". MortgageQuote's LENDING LOOPTM services brings the money directly to you through our network of Licensed Brokers and Professionals (Legal, Accounting, Trust). 


Registered LENDING LOOPTM network users, login here.


If you do not already have a Broker Account with MortgageQuote, email underwriting[at]mortgagequote.ca





You take care of the retail origination compliance and we'll take care of the non-bank and private mortgage lender compliance.

Licensed Brokers

If you are a shareholder (major or minor) in a licensed mortgage broker firm, designated mortgage broker, mortgage-broker-of-record, owner-operator or franchisee and you trade in non-bank mortgage transactions, it is imperative that you use MortgageQuote.

Why?

Industry Regulators publish a list of all licensed mortgage brokers who have been reported for regulatory non-compliance within their mortgage broker operations.  



Implementing a Certified Regulatory Compliant and litigation tested integrated operating, managing and reporting system if your best defense.

 

A regulatory and operational compliance audit is a critical risk-based management component for participants of the financial services industry. History has proven that failure to adhere to regulatory compliance requirements may result in a financially fatal outcome for the officers, directors and shareholders of a financial services company, namely mortgage brokerages and private lenders. Maintaining a culture of compliance is good for your bottom line and for your customers trust and confidence in your business.


Don't be on the regulator list - and don't be subject to an errors and omission's claim without a process-based defense, established during the point of origination.

 

 

Global Leaders in Quality and Risk Management for Mortgage Industry Professionals 

The world's first (and Canada's only) ISO 9001:2015 certified, regulatory compliant Mortgage Origination, Peer-to-Peer (P2P) Private Mortgage & Private Lending Company


For licensed mortgage brokerage firm, dealing in mortgages or dealing with private mortgage investor-lenders can be very lucrative, yet there is substantial risk associated with such transactions, if not done in a 100% compliant manner.


Need proof of the risk to a licensed mortgage brokerage? Visit the following links to see the regulatory enforcement activities. Not all complaints are published; many mortgage transaction complaints are "dealt" with the mortgage broker and complainants directly, before a statement of claim is filed or a regulatory complaint is submitted. 


Alberta: Case Summaries

British Columbia: Enforcement

Ontario: Enforcement Activities


Time and again we have cautioned experienced mortgage industry members (owner/officers/directors/shareholders of mortgage brokerage firms) to rely upon MortgageQuote to help reduce the risk of financial and reputation liability, when hiring multiple mortgage agents who deal in the highly regulated industry of mortgages (transactions or investor-lenders).  


Experienced Errors and Omissions Insurance professionals state that the biggest complaint of a mortgage brokerage firm and their agents, when subject to either a valid or frivolous E&O claim, is that the broker or agent 'did nothing wrong', but cannot effectively prove it - in an objective manner. Well now you can.


Register with MortgageQuote for all of your Non-Bank Originations

Register in our LENDING LOOPTM to become a broker and earn more! MortgageQuote.ca distributes its wide range of equity mortgage products through select mortgage brokers in Canada. If you are a licensed mortgage in the jurisdictions in which we serve and you are looking for a good quality source of equity mortgage investment capital, please contact us or introduce yourself by email to underwriting[at]mortgagequote.ca.


Jurisdiction

Presently, we offer mortgage broker service in Alberta (AB) , British Columbia (BC) , Ontario (ON) and select regions throughout North America

Visit Geographic Area - Licensed Area of Practice: Mortgage Products & Services


Broker Support Site

Existing mortgage brokers can visit our broker support website at Broker Support Site (APLUS).


Professional Referrals

see Referral Section


Non-Professional Referrals


MQCC® likes "Helping Good People"™

Accredited Class®/™ Education and Accreditation for Institutions and Programs

For Corporations, Organizations and Institutions (COIN™) Entities including:

Public and Private: Regulatory Bodies; Regulated Bodies; Licensing Bodies; Licensed Bodies

Meets or Exceeds United States Department of Education (DOE) Quality Standards for Quality Assurance in Education at the institutions and programs (faculties) level

(There are two basic types of educational accreditation [recognized by the United States Department of Education (DOE)], one identified as "institutional" and one referred to as "specialized" or "programmatic.")



Canada: MBRCC Mortgage Broker Regulators' Council of Canada & Other Regulatory Bodies

READ THE TEXTBOOK at Amazon® or Google Play®

Teaching Harvard & All Higher-Level, Accredited/Accredited Class®, Regulated, Vocational, Academic, Research, Development (HARVARD) Class Organizations World-Wide: True "Principles of 'BlockChain'"™

Author: Anoop Bungay

MQCC™ PrivateLender.org: Private Lender Network™/® Universe

The Certified Quality Management-in-Finance Association (CQMFA™) is an independent, private organization that serves to network, educate, professionalize and promote Quality Management-in-Finance. Namely, those finance sector companies who are certified to ISO 9001:2015 (or ISO 9001:2008) Quality Management Standards. Certification to ISO 9001:2015 empowers CQFMFA™ members to strengthen their market position in bring benefits of quality management to their stakeholders. 

GAMUS™.org, Home to the Generally Accepted Mortgage Origination & Underwriting Standards 

Exchange

2005-2021+; World's first, most trusted, 100% trademark "Principles of 'BlockChain'™"-based Crypto Exchange.

PEMX®: The Safer, Better and More Efficient Private Equity Mortgage Exchange; Private Electronic Money Exchange; Private Electronic Mortgage Exchange and related token based financial securities exchange - recognized by international standard-setting bodies; regulators, legislators and legal professionals as the world's first cryptofinancial exchange and world's first cryptofinancial exchange registered to ISO 9001:2000; ISO 9001:2008 and ISO 9001:2015 continuously since May 9, 2008*; trading in the BITMORTGAGE® trademark registered brand of real-estate secured non-bank, non-institutional, non-syndicated, non-regulated or regulatory exempt, free trading securities and related financial instruments; also known as Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow securities and related financial instruments.  

Consumer, Commercial Sector and Industry Accountability

Office of the Shadow Banking System Ombudsperson

"REFLECTING LIGHT INTO THE SHADOWS OF SHADOW FINANCE"

Investigations

WHISTLEBLOWER Reporting System-Network

Help keep finance safe for everyone; correct nonconformity, fraud and similar problems.

Reporting

Groups

International Peer-to-Peer (P2P) & Private Finance Association IP2PFA™

Peer-to-Peer (P2P) & Private Equity Association International

Peer-to-Peer (P2P) & Private Lending (Investing) Association International

PEMPAC Private Equity Mortgage Professionals Association of Canada®

Learn more

Infrastructure & Utilities

BITMORTGAGE®

Global Peer-to-Peer Finance Securities Token System-Network™

BITCOIN.ECO

Global Utility Token System-Network™

MQCC® General Mortgage Products

How to Start?

Learn about MQCC® and Learn some of the MQCC® Origination Rules

See Brochure, below

Private Finance Mortgage and Loan Products Brochure

Email Your Application or Investor Referral to

underwriting@mortgagequote.ca


Tell us the following:

Credit Intermediation for Real Estate Secured Financial Products (Mortgage Broker Activity)

Government Licensed Mortgage Brokerages: Protect Your License - Protect Your Livelihood: Earn Money, Sleep Well At Night

Since 2008, MortgageQuote Canada Corp. is the only mortgage lender and licensed mortgage broker in Canada certified by the Standards Council of Canada-Accredited, BSI Group, operating under Royal Charter; whose integrated Quality Management System complies with the requirements of ISO 9001:2015 for the following scope: Provision of mortgage banking ("lending" in Canada) and mortgage brokerage services.  Learn more and supporting proof of claims at www.mqcc.org.

What does this mean to you as a licensed mortgage person and your retail mortgage customers? As explained by the Standards Council of Canada: MortgageQuote Canada Corp.'s private and non-private mortgage solutions are delivered in an effective standards-based environment, which "help to ensure better, safer and more efficient methods and products". Critically important for private lending and non-bank transactions - ask your errors and omissions insurer if you have any doubts.  See below to learn more. 

  

PRIVATLENDER.ORG: Canada's Private Lending Network®; The World's Private Finance Network™

Professional Liability and Errors and Omissions Prevention-Integrated, Fully Indemnified Private Lender Origination for Mortgage Brokerages whose Professional Liability, Errors and Omissions Insurance companies do not classify and recognize  and insure the brokerage for "primarily trading in non-bank or Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow goods (products) and services (methods)"; and therefore the organization does not possess the minimum standards of competence nor proficiency and systems, technology and infrastructure, management and supervision expected of a practitioner or organization that primarily trades in, and is insured primarily for, trade in Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow goods (products) and services (methods). Register at edu.MQUCC.org to learn more; or simply send your deals to MQCC™ and Learn as you Work™.

All you need is an email account to ENTER THE BLOCKCHAIN™ (www.EnterTheBlockChain.com); or simply email your files to underwriting@mortgagequote.ca to enjoy the benefits (subject to organization regulatory intake agreements signed by your broker of record or CEO).

  

 Risk-Based, Credit Intermediation Solutions for Mortgage Brokers  

The world's best; made for you™. 

MQCC teaches EO companies how to reduce losses and increase profits by creating environments for higher-risk mortgage brokers or large mortgage brokerages with hundreds of agents and thousands of points of failure or risk exposure , to verifiably reduce risk.

Don't change your EO insurance company, change your operations, for the better to theMQCC  ACCREDITED CLASS®.

Learn more.


Anything goes, so long as it makes sense to the person writing the cheque.™

  

Investing or Lending

Government Licensed Mortgage Brokers and Agents

Trade & Profit from Private Lending; Sleep Well at Night™

Understand that not every mortgage brokerage is permitted to trade in private lending. Who decides? Your EO Insurance coverage; your regulator required Customer Relationship decision (agent for borrower, intermediary or agent for lender).

Alberta:

Pursuant to RECA standards of conduct (https://www.reca.ca/consumers/standards/rules/part2-div1.htm)

Industry Member Prohibitions 

42

Industry members must not:

(section 42),  (c) use confidential information obtained from any person for personal gain nor should that information be used for any purpose other than that for which it was obtained;

Section 42,combined with Section 43 (Written Service Agreements), 44 (Protection of Client Information) places the same burden of confidentiality on your client (the private investor-lender)

Agent for Lender Requirements

 https://www.reca.ca/industry/relationships/representing-lender.htm

Mortgage brokerages are cautioned that their industry members must only undertake activities that match the type of relationship the brokerage has chosen to have with lenders and/or borrowers (e.g. AGENT FOR BORROWER). For example, if a mortgage brokerage business model is to act as an intermediary, an advertisement that indicates “we ensure borrowers get the best mortgage rate” may be false and/or misleading, as it could lead a borrower to believe that the mortgage brokerage is working on his or her behalf. Appropriate wording could be “we work with borrowers to provide appropriate options for their consideration.”


MortgageQuote Canada Corp. (MQCC) - your only safe way to trade and profit from certified statutory, regulatory and process (SRP™) conformity private lending in Canada.

If your brokerage choses to act for borrowers, or as an intermediary. It (or it's licensed agents) can NOT act for a private lender (as defined by RECA). So, it may be best to direct your private lending activity (or refer your interested investor-lenders) to a trusted quality brokerage firm that has chosen to act for private lenders from the outset, ie; MortgageQuote Canada Corp. For the record, MQCC is Canada's ONLY mortgage brokerage firm that is certified to be fully compliant with regulatory private lender interaction requirements, in Canada.  First in Canada: Certified Quality Management System & Certified Regulatory Compliance

You still get control of your investor-lender referral and you still participate in the lucrative private lending area, it's just that you do it within the context of compliance.

This is the best way to prevent downstream issues from arising. 

BC:

Similar to Alberta

ONTARIO:

Similar to Alberta

Contact your MQCC BDO for details: underwriting@mortgagequote.ca 

Broker Tools, Training and Support

Broker Tools

Certified Unified Risk Based Quality Management Systems (uQMS™)for Licensed Mortgage Brokers

Email us at info@mortgagequote.ca


Broker Training & Support

Click Here to Contact us via email or Click here to Register Online with MQCC website for Broker Training & Support


Email MQCC™ Broker Support Site Team

Background

Why MQCC™ SAFER™ Private Finance is Important for Government and Non-Government Regulated and Licensed Credit Intermediaries (Loan and Mortgage Brokers)?

One reason is that MQCC is important because it recognizes the true risk that face government licensed and regulated credit intermediaries when they trade in Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow goods (products) or services (methods); as follows:

1 - One or All of the following parties:

require that you or your:

trade in credit transactions:

Operate or Function or Act in a manner that is beyond reproach (or, at the minimum, accountable); specifically, that is: 

Example of Competency Standards include: MQCC™ Competency - Private Finance 001/2006-2021-CPFS

Visit PEM® Institute (PEMI®) at www.PEMInstitute.org to learn more.

Example of Proficiency Standards include: MQCC™ Proficiency - Private Finance 001/2006-2021-PPFS

Visit PEM® Institute (PEMI®) at www.PEMInstitute.org to learn more.

so that all:

are satisfied, for each and every transaction in which you are involved; with records and evidence of conformity to be held and made available for regulatory audit or other discovery, for a period of up to seven (7) years; subject to your jurisdiction of regulation, licensure or operation.

2 - All of the following leadership roles:

Will acknowledge that the nature, quality, feature, characteristic, extent and function of financial (finance industry sector) trade classified as: 

Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow

for example:

is scientifically (precisely, exactly, empirically, materially, measurably) dissimilar to trade in traditional and general financial intermediation, namely, 

Non-Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow

for example:

(a) Central Banks (CB)

(b) Federally Regulated Financial Institutions (FRFI)

(c) other-jurisdiction-Regulated financial institutions, including those regulated by members of:

scientifically (precisely, exactly, empirically, materially, measurably) dissimilar because the Kind of Activity Units KAU which produce the output of Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow goods and services are inherently not the same as the KAU which produces the output of non- goods and services, specifically, the principal productive activity accounts for most of the value added is not the same; (KAU is a definition of the OECD, United Nations and member states; see OECD/UN/WIPO/WTO Textbook written by Anoop Bungay available at Amazon® and Google Play®; entitled:

3 - In additional to Industry Sector-based differences, the Occupational differences are also dissimilar because the "tasks" which comprise the "the principal productive activity accounts for most of the value added" are separate and distinct; borne of dissimilar:

and dissimilar:

and dissimilar:

and dissimilar:

and dissimilar:

and dissimilar:

* Loss of Investor-Lender funds $$;

* Predatory behaviour of untrained Investors, Lenders, Brokers;

* Improper understanding of critical and complex residential and commercial private lending transactions;

* Insufficient or improper training, education, testing, accreditation, skills assessment of practitioners;

* Insufficient or improper standards, systems, technology and tools at both a corporation, organization and individual level (COIN™);

* Insufficient experience; 3 years for vocational standard; 4 years for bachelor degree level; 6 years for Masters (bachelor degree included); 8 years for Ph. D. level (bachelor, masters included); 12 - 15 years for expert standard; leadership level experience.

* This is not a complete list;

resulting in the causing of harm to consumers (applicants, borrowers, investors, lenders) by persons or organizations that do not possess necessary and sufficient skills, education, training, experience, organizational systems and organizational controls to effect competent or proficient delivery of goods and services of a Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow quality or nature resulting in:

* Financial $$$ penalties paid by brokers, brokerages, agents and sub-brokers due to nonconformity events including system errors, omissions and human errors and omissions;

* Regulatory complaints against brokers, agents or sub-brokers and unlicensed assistants;

* Company (brokerage) complaints;

* Statements of Claim (legal disputes);

* This is not a complete list.


Another reason is that MQCC is important is because it revolutionized the standards, systems, technologies and tools related to the origination and completion of 'private lending' or Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow finance sector transactions because:


MQCC is the Global Network Administrator GNA™ for PRIVATLENDER.ORG: Canada's Private Lending Network®; The World's Private Finance Network™

Which revolutionized mortgage origination by introducing: Professional Liability and Errors and Omissions Prevention-Integrated, Fully Indemnified Private Lender Origination for Mortgage Brokerages whose Professional Liability, Errors and Omissions Insurance companies do not classify and recognize  and insure the brokerage for "primarily trading in non-bank or Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow goods (products) and services (methods)"; and therefore the organization does not possess the minimum standards of competence nor proficiency and systems, technology and infrastructure, management and supervision expected of a practitioner or organization that primarily trades in, and is insured primarily for, trade in Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow goods (products) and services (methods). Register at edu.MQUCC.org to learn more; or simply send your deals to MQCC™ and Learn as you Work™.


All you need is an email account to ENTER THE BLOCKCHAIN™ (www.EnterTheBlockChain.com); or simply email your files to underwriting@mortgagequote.ca to enjoy the benefits (subject to organization regulatory intake agreements signed by your broker of record or CEO).


This is just some examples of why MQCC™ is good for you. Read this website and related websites and textbooks to learn fully and completely.

Learn more about MQCC™ SAFER™ PRIVATE Finance Intermediation for government and non-government licensed and regulated intermediaries (brokers, agents, sub-brokers) for mortgages and loans at broker.mortgagequote.ca.

BROKERS - APPLY NOW for your Customers (Applicants, Borrowers or Investors)

Enter the Errors and Omissions Insurance Integrated, Fully Indemnified, MQCC™ SAFER™ Private Finance System-Network at here or visit:

Benefits of MQCC™ SAFER™ Private in your Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow Finance Transactions

Benefits:

in Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow Finance Transactions

for Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow Finance Transactions

in Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow Finance Transactions

related to Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow Finance Transactions

for errors and omissions, professional liability insurance risk management and underwriting integration and assurance.

For the benefit of the following class of financial sector participants or entities:

For the benefit of the following roles of financial sector participants or entities:

For the following goods (products) and services (methods):

MQCC™ PrivateLender.org® SAFER™ Private Program for Mortgages And Loans

Mortgage and Loan Related Resources

for

Borrower - Investee

www.privatelender.org: Global Private Lending Network®

www.mortgagequote.ca

www.bitmortgage.com®

www.PEMInstitute.org Private Equity Mortgage Institute®

And see the Borrower Articles found in the MQCC Blog™: Blog.MortgageQuote.ca

More references websites are found in the footer of this website.

Investor

General Investor Website:

investor.mortgagequote.ca

www.privatelender.org

www.bitmortgage.com®

www.PEMX.com®

www.PEMInstitute.org Private Equity Mortgage Institute®

www.GAMUS.org GAMUS: Generally Accepted Mortgage Underwriting Standards™

www.CMHCBlockChain.com: MQCC™ Canada Mortgage/d’Hypothèques Conformity (CMHC) BlockChain

MQCC™ FCP Fiduciary Capital Partners™ Website:

fcp.mqcc.org

Investing for Professional Active and Retired Athletes Website:

pa.mqcc.org

And see the Investor Articles found in the MQCC Blog™: Blog.MortgageQuote.ca

More references websites are found in the footer of this website.

Broker

Government Regulated Mortgage Brokers Website:

broker.mortgagequote.ca

www.bitmortgage.com®

www.PEMInstitute.org Private Equity Mortgage Institute®

www.GAMUS.org GAMUS: Generally Accepted Mortgage Underwriting Standards™

www.CMHCBlockChain.com: MQCC™ Canada Mortgage/d’Hypothèques Conformity (CMHC) BlockChain

And see the Broker Articles found in the MQCC Blog™: Blog.MortgageQuote.ca

More references websites are found in the footer of this website.

Regulator

Government and Regulator Website:

www.mqcc.org

And see the Regulator Articles found in the MQCC Blog™: Blog.MortgageQuote.ca

More references websites are found in the footer of this website.

Insurer

Errors and Omissions; Professional Liability Insurers Website:

www.mqcc.org

www.PEMInstitute.org Private Equity Mortgage Institute®

www.GAMUS.org GAMUS: Generally Accepted Mortgage Underwriting Standards™

www.CMHCBlockChain.com: MQCC™ Canada Mortgage/d’Hypothèques Conformity (CMHC) BlockChain

And see the Insurer Articles found in the MQCC Blog™: Blog.MortgageQuote.ca

More references websites are found in the footer of this website.

Canada - Regulatory Protocols - License, Licensing and Licensure

Requirement to be Licensed

Real Estate Secured Broker Licensing Requirements 

Jurisdictions of Alberta, British Columbia and Ontario

MQCC License Lookup™ 

License Lookup™

Are you Licensed to Trade? Your name must appear in the registry for the province in which the mortgaged property is located. Read below for details.


MQCC License Lookup™

  


Alberta click here for RECA registry

British Columbia click here for FICOM registry

Ontario click here for FSCO registry  

Saskatchewan has some exceptions - contact us for details.

Broker Licensing Requirements - Other Provinces, Territories, Jurisdictions in Canada

AB - Alberta - must be registered with RECA

BC - British Columbia - must be registered with FICOM

ON - Ontario - must be registered with FSCO

Other - Registration Required - SK, MB, QC, NS, NFLD, NB  

Other - No Registration Required - PEI, NT, NU, NWT, YK  

This information is subject to change without notice.

Broker Licensing Requirements - AB, BC, ON (NEED TO BE LICENSED™)

Requirement to be Licensed

In Alberta, BC and Ontario, only Licensed Mortgage agents/brokers/sub-brokers within the jurisdiction of the property may interview mortgage applicants, obtain mortgage application information and prepare a mortgage application then submit same to a lender. There is no such thing as an unlicensed co-broker. (This is NOT legal or regulatory advice).

Designated Co-Brokered Transactions

All private mortgage transactions are designated as "co-brokered" transactions. MortgageQuote acts for the investor-lender and the originating mortgage brokerage acts for the mortgage applicant, so your jurisdiction's co-broker regulations will apply.

Co-Broker, Lead Generation Rules & When a License is Required

(licensed users only please)



In Alberta, British Columbia and Ontario, (where MortgageQuote.ca is licensed), the mortgage origination business is overseen by regulatory bodies. An individual AND his or her parent company must BOTH be licensed, registered and be "in good standing" to trade or deal in mortgage transactions in one of those jurisdictions. The July 1, 2011 changes to the Agreement on Internal Trade (AIT), allow for individuals already licensed in one province, to have their occupational educational qualifications recognized by another province. Notwithstanding, in order to practice in another province, an individual is required to REGISTER with the regulatory body of the other province - so long as they are in an occupation that requires registration. "Mortgage Brokering" is an occupation that requires registration. 


The recent laws have only made it easier to transfer educational requirements from one provincial jurisdiction to another, however for mortgage industry members, the requirement to register in order to trade in another province, remains. Failure to license/register and to transact in mortgages is unlawful, will void Errors and Omissions claims and will expose you and your mortgage brokerage to lawsuits for fraudulent origination or worse; by both the borrower, the lender, the regulatory authority or all.

 


Jurisdictional License Reciprocity

The below links from the various regulators should help clarify any confusion for you. 


Alberta's Occupational Standards Recognition Policy for Mortgage Brokers (from other jurisdictions) - click here for details.

 

British Columbia (BC) Bulletin RE: Licensing Reciprocity for Current Licensees in Other Provinces - click here for details.


Ontario (ON) Bulletin RE: Licensing Reciprocity for Current Licensees in Other Provinces - click here for details. 


License/Registration Test

The questions we ask to determine your license and registration requirements for any transaction, is the following:


1.1 - 'where is the location (jurisdiction) of the primary property being mortgaged?'

1.2 - 'Is the Application Referral Source, namely you, registered with the governing mortgage broker regulatory body of that jurisdiction?'


In order to ensure compliance to this requirement, it is important to ensure that you are licensed, registered and in good standing with one of the registrars. See the License Registry section below, to confirm you and your company are duly licensed, registered and in good standing.


License Registry

For Alberta mortgage transactions, your name and company information should appear in this registry: click here for RECA registry.


For British Columbia mortgage transactions, your name and company information should appear in this registry: click here for FICOM registry


For Ontario mortgage transactions, your name and company information should appear in this registry: click here for FSCO registry and Search for FSCO Declaration of Compliance requirement.  



If your name appears in either registry, this means we are able to receive mortgage applications from you.


If your name does not appear in either registry and you have taken educational courses to become a mortgage Associate or Sub-Broker and you are in the business of mortgage brokering, please ask your company compliance officer for assistance.


If your name does not appear in the either registry and you have NOT taken educational courses to become a mortgage Associate or Sub-Broker see Options for Unlicensed Individuals, below.


If your name or company name does NOT appear in the registry, and you are a licensed mortgage in another province, then you may qualify for extra-provincial registration. See Jurisdictional License Reciprocity links section, to learn more.


Options for Unlicensed Individuals

If you are not able to provide confirmation of license and registration, you have the following options:


4.1  - refer your client to a colleague who is duly registered in the jurisdiction of question, in order that they may send the file to our office for action. 


4.2 - register yourself and, if necessary, your brokerage firm, with the regulatory body in the jurisdiction of question. 


4.3 - you may still refer your file to MortgageQuote.ca Private Lending Services, and you would be treated as an unlicensed and unregistered 'simple referral source'.  You would not be able to communicate mortgage options or negotiate terms with the applicant because you are not licensed to trade in mortgages within the jurisdiction. MortgageQuote.ca will need to undertake the communication, negotiation and fulfillment of the transction, directly with the borrower. This means you would be paid a referral fee of upto 20% of the paid origination fee to MortgageQuote.ca. The actual amount will be determined upon review of the work required for the file. Visit referrals.mortgagequote.ca to learn more.


4.4 - you would like to be in the mortgage business, the visit www.mortgagejobs.org to learn more.



Is this a new thing?

If you are a mortgage broker and this situation affects you; you may not have encountered this issue until today. If you have historically been dealing in mortgages in other provinces and no other lender has brought this to your attention, we cannot fully explain that. What we can say, however is the following:

The best thing is to ask your Designated Broker or Designated Individual for guidance, or read the rules of the Regulator's website in the province which you are not licensed in - but should be. 



Ask your Errors & Omissions Insurer

One final note: Errors & Omissions insurers policies usually cover mortgage brokers for the provinces in which they and their licensed employees are duly registered. You should ask your EOE provider for guidance.  

Source: When a License is Required (private MQCC® link)

Co-Broker Requirements, Lead Generation Rules & When a License is Required

Co-Broker Requirements  

Alberta Regulatory Co-Broker Requirements


REFERRALS – INDUSTRY MEMBER REQUIREMENTS


Purpose: This bulletin outlines the obligations of an industry professional when they make a referral.


This bulletin applies to all industry professionals.


A “referral” means “the act of recommending or directing a person for service, assistance, or business to another person or business.” A referral in exchange for a fee or other compensation is a common practice in the real estate and mortgage brokerage industries.


Real estate, property managers and mortgage professionals must disclose that they may receive a fee or compensation to the person they are referring.

Industry professionals can only disclose client confidential information with the consent of that person.


Consent of client to disclose confidential information The person you are referring must consent to the sharing of their information for the referral. You can only share the information with the person the client agrees to share the information.


Confidential information means “any information concerning the client including the client’s financial or personal situation, the client’s real estate and the transaction involving the client.” Many referrals will involve disclosing only basic information, like name, email address and phone number. Other referrals may require more

information about a person, such as the person’s real estate, property management, mortgage or appraisal requirements, or their financial situation.


In all cases, industry professionals must receive written consent from the person whose information they will be giving to a third party before releasing that information.


Referral disclosure requirements


If an industry professional may receive a referral fee or other compensation, they must first disclose to the person subject of the referral the following:


that the industry professional will be giving the person’s confidential information to a third party service provider


what information the third party will receive such as name, phone number or email, or other confidential information


that the industry professional may receive a referral fee or other benefit from the service provider for making the referral


This disclosure must be in writing and include an acknowledgement by the client that they consent to this referral. If they do not agree, do not make the referral.

The written disclosure and acknowledgment must be part of the brokerage file. Industry professionals should know to whom they are making the

referral. If referring a client to another industry professional it is the referring industry professionals’ responsibility to take reasonable steps to ensure the person has a licence to carry out the service for the referral client.


The easy way to determine if an industry professional holds a licence with RECA is to visit RECA’s website at www.reca.ca and use “Search for

an Industry Professional”. 


If referring a client to an industry professional outside of Alberta, there are several ways to determine whether that third party holds a licence in their

jurisdiction.


The Association of Real Estate Licence Law Officials (ARELLO) is an international organization that provides a “Real Estate Licence Verification” search tool on their website www.ARELLO.com. Most Canadian provinces and US states are members of ARELLO and supply ARELLO with current information.


If you cannot verify the licence status of an industry professional on www.ARELLO.com, search the website of the licensing authority in the province or state of the third party. If the website does not give an online licence search function, contact the licensing authority directly.


Do not make the referral unless you can confirm that the third party holds a licence for what you are referring your client. 


You may only pay and receive referral fees through your brokerage 


Referrals of clients you make are on behalf of the brokerage with which

you hold a licence. The brokerage must receive all referral fees or benefits from any referrals.

 


BC Co-Broker Requirements  

 

Mortgage brokers enter into co‐brokering arrangements with other mortgage brokers when they share the responsibility to originate mortgages with other mortgage brokers.  Co‐brokering differs from making mortgage referrals, as referral sources pass on potential client information to other registered brokers without participating in the origination process.


Activities which are included in the origination process include:


Meeting with borrowers;

Taking mortgage applications;

Conducting due diligence to confirm the identity of potential borrowers and to verify the application information provided to lenders;

Obtaining required consents from clients to perform credit bureau searches;

Shopping mortgage applications to lenders;

Providing mortgage commitments to borrowers and ensuring that conditions are satisfied;

Ordering appraisals; and

Preparing disclosure documents and ensuring that they are reviewed and executed by required parties.


Mortgage brokers and submortgage brokers must ensure that they do not co‐broker a mortgage transaction with a person in Alberta, British Columbia and Ontario who is not registered under the Act, or with a person in another jurisdiction, who is not licensed or registered as a mortgage broker in that other jurisdiction.


Both brokers in a co‐brokering arrangement are equally liable for the mortgage transaction, and will share regulatory responsibility for compliance issues.  However, if an individual in a co‐brokering arrangement is not registered, and there are regulatory compliance issues with the transaction, it is likely that the registered broker will be the focus of disciplinary proceedings.


In addition, brokers should be aware that compliance problems are more likely to occur in co‐brokered transactions with unregistered individuals.  In some cases, brokers who co‐broker mortgages with unregistered individuals may be participating in fraudulent transactions.  


For example, FICOM (BC Regulator) has recently received reports from industry members that an unregistered individual is presenting fully completed mortgage application forms to registered mortgage brokers and asking that they present the applications to their lenders.  When mortgage brokers ask to meet with the borrowers, the unregistered individual will leave, and seek out another mortgage broker to process the application.  While the true nature of the transaction is not known, there is a strong possibility that the transaction is fraudulent, and may even involve identity theft or straw buyers.   


Records

A broker must ensure proper management and control of all documents and records, including those related to mortgage deals, as well as licensing, registrations, and related regulatory requirements. RECA has guidelines as to what records a broker must keep. This applies to co-broker transactions, too. Source.


Mortgage brokers may verify the registration status of another mortgage broker or submortgage broker by checking licensing.mortgagequote.ca


Ontario Co-Broker Requirements  


Disclosures FAQ


17. If I co-broker a mortgage with another Mortgage Broker, who has the responsibility of providing disclosure and forms to the client?

 

If a mortgage is co-brokered, both Mortgage Brokers are responsible for providing the client the required disclosure, and for maintaining mortgage files for the required period of time. If agreed upon, these responsibilities can be delegated to one of the Mortgage Brokers. However, all required disclosures and forms must be maintained by both Mortgage Brokers.


25. Who can referral fees be paid to?


A referral fee for a “simple referral” –- which is a referral where only contact information is provided to a potential borrower, lender or investor –- may be paid to individuals and businesses who are not licensed as Mortgage Brokerages. (See sections 1 and 2 of Ontario Regulation 407/07 - Exemptions from the Requirements to be Licensed.) 


Referral fees for “simple referrals”, as well as referrals that involve more than providing contact information, may be paid to licensed Mortgage Brokerages that refer mortgage business to other Mortgage Brokerages. Referral fees cannot be paid directly to Mortgage Brokers or Agents. They must be paid to the Mortgage Brokerage and be fully disclosed in writing to the borrower, lender or investor.




Lead Generation Rules


Visit referrals.mortgagequote.ca



When a License is Required

Alberta



Mortgage Brokerage - When is a Licence Required?

Purpose: This bulletin explains when you need a mortgage broker licence for receiving referrals.

This bulletin applies to mortgage brokerages, brokers and associates. It also applies to real estate brokerages, brokers, associate brokers and associates that refer potential borrowers to a lender or mortgage broker.


Your real estate broker licence does not let you deal in mortgages

Real estate industry professionals often want to help their clients to get a mortgage to buy a property. Although that is commendable, you must be careful not to carry on mortgage broker activities without a mortgage broker licence. The Real Estate Council of Alberta (RECA) considers encouraging a client to go to a particular financial institution for a mortgage is soliciting—a mortgage broker activity.

The Real Estate Act (Act) does not apply to banks and financial institutions. RECA governs the activities of persons in Alberta that deal in mortgages on behalf of others. A real estate broker licence does not authorize you to deal in mortgages. If you deal in mortgages, you need a mortgage broker licence from RECA.

How we define mortgage

Mortgage has a broad meaning under the Act. It is an interest in land established in writing that secures performing a duty or paying a debt. A lessee’s interest in a leased property is leasehold mortgage. It is registering a mortgage on title to secure payment for a loan.

Dealing in mortgages includes these activities

Examples of referrals where you need a mortgage broker licence

In the 2002 case of Toronto Dominion Bank v. Real Estate Council of Alberta, the court reviewed the definition of mortgage broker and, in particular, what it means to solicit a person to borrow or lend money to secure it by a mortgage.

The judge concluded the following five referral scenarios were cases of soliciting business for financial institutions and needed a mortgage brokerage licence:

Referring a client to a lender without promoting the lender

A real estate broker refers his client to a specific lender. The real estate broker does not promote the lender or give any specific information to the client, but asks the client to tell the lender who referred him. The client uses that lender and mentions the name of the real estate broker as requested. The lender pays the real estate broker for the referral.

Referring a client to a lender by promoting the lender

A real estate broker refers his client to a specific lender. The real estate broker promotes the lender by saying things like, the lender has quick service, a good mortgage program, competitive rates, or that his former clients have had good dealings with that lender. The real estate broker asks the client to tell the lender who referred her. The lender pays the real estate broker for the referral.

Referring a client to a lender in person

The real estate broker refers his client to a specific lender. The real estate broker delivers the client’s mortgage application to the lender, arranges a meeting between the client and the lender, or attends the mortgage application session with the client. The lender pays the real estate broker for the referral.

Referring a client to an on-site lender 

A lender has an employee at the real estate office. The real estate broker actively recommends the on-site lender and steers clients toward the lender’s on-site employee for pre‑approval or mortgage financing. The lender pays the real estate broker for the referral.

Referring a client to a lender, you have a special agreement with 

A real estate brokerage has an agreement with a specific lender. The lender offers the clients of the real estate brokerage a special mortgage program (for example, special mortgage rates or a “cash back” payment after closing). Sometimes the lender’s employee is at the real estate office. The real estate broker actively refers his clients to the lender and the mortgage program. The lender pays the real estate broker for the referral.

The judge concluded her decision by saying that real estate brokers who want to encourage their clients to go to a particular lender can get a mortgage broker licence.

Referring a client to a mortgage brokerage

A real estate broker refers his client to a specific associate at a mortgage brokerage. The mortgage brokerage deals with one lender. The mortgage broker meets with the client, collects the appropriate information and submits the application to a lender. The real estate broker’s role was to refer the client to the mortgage broker. The lender pays the real estate broker for the referral.

Examples of referrals where you do not need a mortgage broker licence

Referring a client to a mortgage brokerage

A real estate broker refers his client to a specific associate at a mortgage brokerage. The mortgage brokerage deals with multiple lenders. The mortgage broker meets with the client, collects the appropriate information and submits the application to a lender. The real estate broker’s role was to refer the client to the mortgage broker. The lender pays the real estate broker for the referral.

The difference between this example and the examples where the lender cannot pay a referral is the mortgage brokerage deals with multiple lenders. The real estate broker did not solicit a mortgage on behalf of a specific lender.

Related information

Legislation

Information bulletins

 

Dealing in Mortgages as a Mortgage Broker

Purpose: To explain when a person needs a licence from the Real Estate Council of Alberta to deal in mortgages.


This bulletin applies to all mortgage broker professionals.


Does a person need a licence to deal in mortgages?


A person who deals in mortgages on behalf of another and for compensation, or holds oneself out as a mortgage broker, must obtain a mortgage broker licence from the Real Estate Council of Alberta (RECA), unless they are exempt by the legislation.

The Real Estate Act (Act) does not apply to a person who deals in mortgages on his or her own behalf. 

Generally, a licence to deal in mortgages is required if the property, the borrower or the location of the mortgage broker is in Alberta.

What is a mortgage?

The Real Estate Act (Act) defines “mortgage” as a loan secured by a mortgage or any charge on real property or a lease of real property or any charge on real property for the purposes of securing the repayment of money or another consideration.

What does “dealing” in mortgages mean?

Dealing in mortgages occurs when a person, on behalf of another person, does any of the following:

You require a licence from RECA to conduct the above activities. 

What does holding oneself out mean? 

A person who advertises they are a mortgage broker, or acts in any manner that leads the public to believe they are a mortgage broker, is “holding oneself out” as dealing in mortgages.

“Holding oneself out” as a mortgage broker can include using the term “mortgage broker” to describe oneself, collecting borrower information, or leading a client to believe they are in the business of a mortgage broker.

When a licence is not required?

A licence to deal in mortgages is not required for the following:

A person who lends their money secured by a mortgage does not require a licence under the Act. Their employees do not require a licence either.

RECA has adopted the definition of “employee” in the Alberta Employment Standards Code.

Certain corporations do not require a licence under the Real Estate Exemption Regulation.

Unlicensed assistants

In mortgage brokerages, unlicensed assistants must not deal in mortgages.

Examples

Related information

Legislation

Information bulletins


Ontario

The Financial Services Commission of Ontario licenses mortgage brokers, agents, brokerages and administrators in Ontario. Licensed mortgage professionals have met specific education, experience and suitability requirements.


Learn More

 

British Columbia 


Mortgage Broker Registrations - When is Registration Required?


See Links below for BC


Under the Mortgage Brokers Act (the Act), companies, partnerships and sole proprietors, unless exempted under section 11 of the Act, need to be registered as mortgage brokers to engage in mortgage broker activity. The Act defines a “mortgage broker” as a person who does any of the following: 


a) carries on a business of lending money secured in whole or in part by mortgages whether the money is the mortgage brokers own or that of another person; 

b) holds himself or herself out as, or by an advertisement, notice or sign indicates that he or she is, a mortgage broker; 

c) carries on a business of buying and selling mortgages or agreements for sale; 

d) in any one year, receives an amount of $1,000 or more in fees or other consideration, excluding legal fees, for arranging mortgages for other persons; 

e) during any one year, lends money on the security of 10 or more mortgages; and 

f) carries on a business of collecting money secured by mortgages.


Additional Reading for BC Province: See below items:  

These items are found in the attachment links found below underneath: Government Licensed Mortgage Broker Company - Additional Information


Or, call FICOM-BC the regulator at 604 660-3555 or 866 206-3030 toll free.

 

Government Licensed Mortgage Broker Company - Additional Information


Register with MQCC®  to learn more as per below:


Ċ Alberta - Co-Broker - Referrals-Industry-Members-Requirements.pdf

View Download 59k v. 1 Feb 11, 2016, 1:22 PM Anoop Bungay

Ċ CO‐BROKERING REQUIREMENT FOR BOTH MORTGAGE BROKERS IN A CO‐BROKERING MB-10-005.pdf

View Download 171k v. 1 Feb 11, 2016, 12:33 PM Anoop Bungay

Ċ FICOMBC-LicReciprocity-11-004.pdf

View Download 149k v. 1 Oct 24, 2017, 11:24 AM Anoop Bungay

Ċ MB-08-001-Simple Referral Permissions.pdf

View Download 29k v. 1 Dec 31, 2015, 5:32 PM Anoop Bungay

Ċ MB-10-004-BC_Requirement to be Licensed.pdf

View Download 174k v. 1 Dec 31, 2015, 5:32 PM Anoop Bungay

Ċ Registrations-BC.pdf

View Download 142k v. 1 Dec 31, 2015, 5:32 PM Anoop Bungay

Ċ Sample Internal Co-Broker Policy.pdf

View Download 41k v. 1 Feb 11, 2016, 2:32 PM Anoop Bungay

MQCC Blog™: Articles and Open Secrets™

Blog.MortgageQuote.ca

Visit www.BitCoin.eco to learn more.

 MQCC SAFER™ Peer-to-Peer (P2P)/Private/ Crypto/Secret/Shadow Finance: Be The Bank® Series "Private Lending" Program

Available at Amazon® and Google Play®

 Legislator, Regulator & CEO Conformity Handbook: British Columbia (BC), Canada; Finance Sector Edition: Spring 2020

Available at Amazon® and Google Play®

HISTORICAL YIELDS

Notes:

Visit MQCC Doubling Calculator™ www.doublingcalculator.com to learn more.

1. Canadian Dollars

2. % Returns are before MQCC Asset Owner and MQCC Intellectual Property Rights Licensing Fees

3. Canadian Dollars

4. Primarily Fully Secured, free trading, non-public market, primary, direct, land title-secured securities

5. Primarily Non-Bank, Non-Institutional, Non-Syndicated, Non-Regulated or Regulatory Exempt, Free Trading Finance; also known as Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow Finance (visit www.ip2pfa.org to learn more.

Notes:

Visit MQCC Doubling Calculator™ www.doublingcalculator.com to learn more.

1. Canadian Dollars

2. % Returns are before MQCC Asset Owner and MQCC Intellectual Property Rights Licensing Fees

3. Canadian Dollars

4. Primarily Fully Secured, free trading, non-public market, primary, direct, land title-secured securities

5. Primarily Non-Bank, Non-Institutional, Non-Syndicated, Non-Regulated or Regulatory Exempt, Free Trading Finance; also known as Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow Finance (visit www.ip2pfa.org to learn more.

Private Equity Mortgage (PEM®) Average Yields versus Other Yields - 2009 to 2021+

Private Equity Mortgage (PEM®) Average Yields versus Other Yields - 2009 to 2019
MQCC™ BLOCKCHAIN INTEREST Money Machine™; BLOCKCHAIN P2P WEALTH RETURNS™, INTEREST BLOCKCHAIN™ Returns, COMPOUND INTEREST BLOCKCHAIN™, INTEREST CLOCKER™, DOUBLING CALCULATOR™ - INTEREST ALGORITHM™ - www.doublingcalculator.com

REGULATORY and INDUSTRY OUTREACH


Dear FSRA, My name is Anoop Bungay, Founder of MQCC

Financial Services Regulatory Authority of Ontario

https://www.fsrao.ca › default › files › comments

PDF

Nov 3, 2020 — My name is Anoop Bungay, Founder of MQCC™; Money Quality Conformity Control. Organization incorporated in Alberta as MortgageQuote Canada ...

You've visited this page many times. Last visit: 16/11/22


FSRA Proposed 2021-22 Statement of Priorities

https://www.fsrao.ca › engagement-and-consultations

Oct 13, 2020 — MQCC™ offers its leadership to you and your industry regulatees, on a Pan-Sector basis. Best wishes, Anoop Bungay. MQCC - FSRA Ontario (FSRAO.ca) ...


Docket No. OP-1747 - Board of Governors of the Federal ...

Federal Reserve Board (.gov)

https://www.federalreserve.gov › August

PDF

Aug 9, 2022 — Training (P2PLET™) program and visit Calgary, Alberta, Canada and meet yours sincerely, A. K. (Anoop). Bungay (on a peer-to-peer basis); the ...

4 pages


REFERENCE 1: Original Message to Mortgage Professionals Canada


MQCC® Meta Quality Conformity Control Organization - via twitter @mymortgagequote

·

Oct 19

Hello team,

Please sees this message to Current & Future #TopManagement @ #MortgageProfessionalsCanada

@MortgageProsCan

 from #MQCC® Home of OFFICIAL AUTHENTIC ORIGINAL™ OAO™ #BITCOIN™ #BITMORTGAGE® CRYPTDO™ #crypto peer2peer financial goods & services https://mqcc.page.link/mqcc-mpc


MQCC Comments RE_ Consultation on the proposed insurance prudential supervisory framework.pdf

REFERENCE 2 (with PDF Attachment): Original Message to BCFSA (Blair Morrison) & CC to Deb White, CEO (President) of CMBA-BC


---------- Forwarded message ---------

From: Anoop Bungay <anoop.bungay@mortgagequote.ca>

Date: Thu, Feb 10, 2022 at 7:01 PM

Subject: Letter to CMBBC - BCFSA - 10-Feb-22 - Canadian Mortgage Brokers Association BC - BC Financial Services Agency BCFSA Top Management

To: <president@cmbabc.ca>, <bcfsa@bcfsa.ca>



Dear Deb White and Blair Morrison,


As a matter of public historical record and an "FYI"; please see attached.


Best of 2022 to you and yours.


/s/



Anoop Bungay


Letter to CMBBC - BCFSA - 10-Feb-22 - Canadian Mortgage Brokers Association BC - BC Financial Services Agency BCFSA Top Management.pdf

2022 Message to Andrew Moor, CEO of EQ Bank

MQCC.org™_ Meta Quality Conformity Control Organization™ incorporated as MortgageQuote Canada Corp. Mail - Hello from Anoop Bungay - MQCC CEO to EQBANK CEO - 2022 Followup -.pdf