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Why didn’t FSCO contact me before suspending my mortgage brokerage’s licence?

April 26, 2017brokerage contact fsco licence mortgage suspending

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Why didn’t FSCO contact me before suspending my mortgage brokerage’s licence?

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Before suspending a mortgage brokerage’s licence, FSCO staff attempted to contact each principal broker numerous times: • All principal brokers were advised via e-mail that FSCO would be conducting an errors and omissions insurance audit on October 15, 2008. • FSCO e-mailed all principal brokers who did not appear to have the required errors and omissions insurance coverage. • If an e-mail did not get delivered to the principal broker’s e-mail address, FSCO staff sent a fax or registered letter to the mortgage brokerage. • If a registered letter was undelivered or unclaimed, FSCO called the mortgage brokerage.