What advertising requirements must be met as of July 1, 2008?
The advertising requirements that were in effect under the Mortgage Brokers Act are still in effect under the Mortgage Brokerages, Lenders and Administrators Act, 2006. The existing requirement that advertising cannot be false, misleading or deceptive continues. Starting January 1, 2009, additional advertising requirements will take effect. The new advertising requirements for Mortgage Brokerages specify that a Brokerage must use its name and licence number in all advertising. If an ad refers to a Mortgage Broker/Agent, it must include the individual’s name and indicate whether the individual is a Mortgage Broker or Agent.
