Mortgage Brokering Technical Advisory Committee
Meeting summary
Date: Thursday, November 23, 2023
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 November 23, 2023 meeting.
Welcome
The Chair welcomed TAC members to the meeting and thanked committee members for their engagement and feedback between meetings. The Chair expressed appreciation for members whose terms are up.
Private mortgage campaign
FSRA shared the goals and discussed the approach of the campaign. FSRA sought recommendations from the Committee on organizations that FSRA can work with to promote the campaign.
Mortgage broker and agent licensing suitability Guidance
The Committee was presented with an overview of the Mortgage broker and agent licensing suitability Guidance. FSRA highlighted the importance of assessing suitability for mortgage agent and broker licensing.
Roundtable discussion: Licensing requirements
FSRA highlighted the upcoming licensing requirements, deadline for license renewal for all mortgage agents and brokers and deadline for Annual Information Return filing. FSRA also shared statistics of the completion of challenge exam and private mortgage course as of October 31, 2023.
Roundtable discussion: Prevalence of brokers/agents working outside of their authorized brokerage
FSRA and the Committee discussed prevalence of brokers and agents working outside of their authorized brokerage and the potential measures that brokerages and principal brokers, as well as in collaboration with FSRA, can implement to effectively prevent and deter this behavior.
Next meeting
The next meeting of the committee to be determined.
Attendance record
|
Invited/Attended |
Company name |
Attendance status (A)ttended; (R)egrets; (S)ubstitute; (VC)Teleconference |
|---|---|---|
|
Sadiq Boodoo |
Approved Financial Services |
A |
|
Guido Di Franco |
Richview Capital MIC Inc. / Mortgage Architects Experts |
VC |
|
Kevin Fettig |
CMI Financial Group |
VC |
|
Carla Gervais |
The Mortgage Advisors (Verico) |
VC |
|
Elizabeth Gnoinski |
Boss Mortgages – The Mortgage Center |
A |
|
Neil Gross |
Component Strategies Consulting |
R |
|
Victoria Joly |
Distinctive Real Estate Advisors Inc. |
A |
|
Anisa Sherwood Lancione |
Mortgage Brokers City |
VC |
|
Alex Leduc |
Perch (Mortgauge) |
VC |
|
Dong Lee |
DLCG / Mortgage Architects |
R |
|
David Morrison |
Morrison Financial |
A |
|
Marie Taylor |
FCT |
VC |
FSRA members present:
Rocca D’Angela, Nadiatou Fagbemi, Jennie Hodgson, Wendy Horrobin (Online), Antoinette Leung, Kelly Le, Cheryl Mak, Jelena Pejic, Jessica Rose (Online), Elissa Sinha (Online), Gina Stephens, Serina Yau
Available in French upon request