Homeowners Across Ontario Need to be Aware of Door-to-Door Scams
In recognition of Fraud Prevention Month, EAPO and the Financial Services Regulatory Authority of Ontario (FSRA) hosted a webinar on Mortgage Scams.
FSRA licenses mortgage brokerages, brokers and agents to safeguard public confidence and trust in Ontario’s financial services sector. The session provided an overview about FSRA, mortgage fraud scams that are on the rise in Ontario and how consumers can protect themselves. The FSRA also discussed how it approaches oversight of the mortgage brokers they license and how consumers can make inquiries or complaints about the conduct of a mortgage broker.
Presenters :
Chris Zolis, CPA, CFF, CFE, MFAcc, MBA, DIFA
Head, Forensic Analysis and Investigations, Financial Services Regulatory Authority of Ontario (FSRA)
Gina Stephens
Director, Mortgage Broker Conduct, Financial Services Regulatory Authority of Ontario (FSRA)
Stuart Wilkinson
Chief Consumer Officer, Financial Services Regulatory Authority of Ontario (FSRA)
Website Links
Financial Services Regulatory Authority
Contact information:
Website: https://www.fsrao.ca/
Facebook: https://www.facebook.com/FSRAOnt
X: https://twitter.com/FSRA_News
LinedIn: https://www.linkedin.com/company/financial-services-regulatory-authority-of-ontario/life/
Toll free: 1-800-668-0128
Email: [email protected]
Subscribe to Mailing list: https://www.fsrao.ca/subscribe-our-mailing-list
FSRA Resources
FSRA’s Enforcement and Warnings
Make an informed choice when looking for services within the sectors we regulate. This page lists enforcement actions and warning notices for individuals or companies that are not following the law. Enforcement actions are formal legal actions initiated by FSRA against individuals or organizations. Warning notices are news items that inform you about individuals or organizations that FSRA believes may be involved in activities that could put you at risk.
FSRA’s enforcement and warnings
Code of Conduct for the Mortgage Brokering Sector
https://www.mbrcc.ca/Documents/View/8125
Consumer Research:
FSRA uses grants to strengthen consumer protection in Ontario. Grants can be awarded to support educational and research initiatives to help consumers with financial literacy, financial awareness, and the understanding of market trends in the province.
Research is important to understanding your needs and to be aware of any issues or trends in the sectors we regulate. We conduct research in many ways to get an in-depth understanding of what matters to you as a consumer. Our research will help us shape policies and strengthen our efforts to identify ways to respond to the needs of and risks to consumers.
https://www.fsrao.ca/consumers/consumer-office
Consumer research: Auto insurance, Financial advice, Mortgage brokering
https://www.fsrao.ca/consumers/consumer-office/fsra-consumer-research
REPORTING
Whistle-blower Program
If you are an individual or entity who has primarily non-public (i.e., insider) information about Misconduct in FSRA’s Regulated Sectors and want to come forward on a confidential basis, FSRA wants to hear from you.
https://www.fsrao.ca/fsras-whistle-blower-program
Complaint Form
https://www.fsrao.ca/complaint-form-0
Resources:
Teranet
Teranet is Canada’s leader in the delivery and transformation of statutory registry services with extensive expertise in land and commercial registries. It also provides insightful property intelligence and data solutions to thousands of customers in the real estate, financial services, government, utilities and legal markets.
https://www.teranet.ca/
Mortgage Broker Regulators’ Council of Canada
https://www.mbrcc.ca/
The Mortgage Brokers Regulatory Council of Canada (MBRCC)’s website includes a list of provincial regulators.
https://www.mbrcc.ca/Members
Autorité des marchés financiers -Québec
https://lautorite.qc.ca/en/general-public
FSRA reverse mortgages
https://www.fsrao.ca/industry/mortgage-brokering/regulatory-framework/supervision/mortgage-brokerages-must-enhance-policies-and-procedures-reverse-mortgage-brokering
