B.C. mortgage broker fined $50K, suspended 3 months for 'misleading' applications
CTV
A B.C. mortgage broker has agreed to pay more than $50,000 to a professional regulator after admitting to submitting "misleading" applications to lenders.
A B.C. mortgage broker has agreed to pay more than $50,000 to a professional regulator after admitting to submitting "misleading" applications to lenders.
In a consent agreement posted on the BC Financial Services Authority website last week, Hou Yin "Jeffrey" Ho admitted to conducting mortgage business "in a manner prejudicial to the public interest."
Seven instances of the misconduct occurred between September 2014 and April 2015, while the rest occurred in 2017, according to the document.
In two of the early cases, Ho or his assistant submitted applications that "failed to state that the borrowers were seeking concurrent financing for the potential purchase of other properties," the consent agreement says.
The other five early cases had the same problem, according to the agreement, but they also "stated that the properties were owner-occupied when Mr. Ho ought to have known that the properties would be converted into rental properties if the potential purchase of the other property completed."
The 2017 cases were prepared by Ho's assistant. In those instances, Ho's misconduct stemmed from his failure to exercise "proper due diligence" in supervising his assistant.
The consent agreement indicates Ho's assistant submitted three false tenancy agreements, two of which were signed by the borrower, and presented them to lenders as if they were genuine.
The London Knights extended their winning streak to 13 games Friday night with a dramatic comeback win over the Owen Sound Attack at Canada Life Place.
Prime Minister Justin Trudeau is a Swiftie. His office confirmed to CTV News Toronto that he and members of his family are attending the penultimate show of Taylor Swift's 'The Eras Tour' in Toronto on Friday evening.
Investigators are working to piece together what caused an explosion and fire at a six-plex in the southeast Calgary community of Mahogany.
London fire crews and police are on scene of a house fire in east London. Crews were called to the 1800 block of Culver Drive, east of Third Street and south of Oxford Street, around 11:30 a.m.
A teen who pleaded guilty in the death of 17-year-old Tyson MacDonald on Prince Edward Island last year has been sentenced to two years in custody.
An additional 160,000 students in Ontario will get access to free meals, Prime Minister Justin Trudeau announced at a Brampton, Ont. school Friday.
The Liberal government is pulling out the federal wallet to put more money into people's pockets over the holidays, but its recently announced affordability measures create winners and losers.
A jury has found two men guilty on human smuggling charges in a case where a family from India froze to death in Manitoba while trying to walk across the Canada-U.S. border.
Calgary is under a snowfall warning with total amounts of 15 to 25 centimetres expected.
Pat King, one of the most prominent figures of the 2022 'Freedom Convoy' in Ottawa, has been found guilty on five counts including mischief and disobeying a court order.
An 81-year-old was killed in a dog attack this week in Bonfield, Ont. Police believe three dogs were involved.