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Why does the Mortgage Brokerages, Lenders and Administrators Act require that Mortgage Agents be licensed?

April 26, 2017ACT administrators agents brokerages lenders licensed mortgage require

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Why does the Mortgage Brokerages, Lenders and Administrators Act require that Mortgage Agents be licensed?

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The Mortgage Brokerages, Lenders and Administrators Act requires everyone who deals or trades in mortgages to be licensed, unless an exemption applies. This Act protects the public interest by requiring all Mortgage Agents to be qualified and regulated.