The Financial Services Commission of Ontario (FSCO) has identified several mortgage Brokerages and individuals that have failed to pass audit inspections for carrying satisfactory E&O insurance coverage.   

Please visit the following link to see the Brokerages that failed to comply as of this date:

http://www.fsco.gov.on.ca/english/licensing/mebonline/enforce/mortgage/brokerages/default.asp

FSCO will continue ongoing audits and compliance in the industry and as FSCO's audits have only just begun, there is no doubt that the industry will undergo incredible scrutiny driving out even more individuals and brokerages operating today. 

This blog was written by Elizabeth Blair, a Licensed Mortgage Agent with Mortgage Edge in Richmond Hill, Ontario.  Elizabeth services mortgage clients in Mississauga and all over the Greater Toronto area.  You can contact Elizabeth directly by phone at (905) 510-5785

by email at eblair@mortgageedge.ca

or you visit her website at:    www.missmortgage.ca 

Elizabeth is licensed with the Financial Services Commission of Ontario and is also a Member of IMBA (the Independent Mortgage Brokers Association of Ontario) www.imba.ca