Friday, June 14, 2019

More B.C. Mortgage Brokers nailed

Dean Frank James WalfordThe registrar at the Financial Institutions Commission (FICOM), announced that his agency has issued a notice of hearing to Dean Frank James Walford for setting up mortgages in an unregistered capacity with assistance from registered submortgage brokers Grant Brian Curtis and Tanya Ann Smith.

Walford’s notice claims he and Loan Depot Canada submitted 90 B.C. mortgage applications to lenders on behalf of borrowers. Walford is accused of submitting documents that were found ... “not to be authentic and which resulted in economic loss to the lender.”
Last month, a major investigation was announced into registered brokers operating in unregulated capacities with unregistered brokers.

Jay Chaudhary, a previously suspended registered broker turned unregistered Vancouver mortgage broker, may have arranged over half a billion dollars in loans, many of which could be based on falsified and fraudulent documentation.