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If my mortgage brokerage surrenders its licence, will FSCO cancel the administrative monetary penalty?

April 26, 2017administrative brokerage cancel fsco licence monetary mortgage penalty Surrenders

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If my mortgage brokerage surrenders its licence, will FSCO cancel the administrative monetary penalty?

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No. You have a legal right to a hearing should you wish to dispute the penalty, if you request one within the time stated in the notice. Otherwise, you are required to pay the penalty.