Does a Mortgage Brokerage need to disclose in writing if it is limiting a Mortgage Agent’s ability to submit specific transactions in Filogix?
The Mortgage Brokerage is required to disclose in writing to a borrower the number of lenders on whose behalf the Brokerage acted as a representative during the past fiscal year. Upon request, the Mortgage Brokerage is required to disclose the name of the lender, if any, with whom the Brokerage arranged more than 50 per cent of the total number of mortgages completed during the previous fiscal year.
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