Mortgage Fraud | Mortgages | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
sp_Search Search
Advanced Search
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Search Search
Go to Bottom
No permission to create posts
sp_Feed Topic RSS sp_TopicIcon
Mortgage Fraud
October 30, 2015
9:34 pm
Norman1
Member
Members
Forum Posts: 7192
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline
Go to Top
1sp_Permalink sp_Print

A recent Globe & Mail article about mortgage fraud in Canada:

Globe & Mail: How mortgage fraud is thriving in Canada's hot housing market

The article provides some context for the earlier articles from the Financial Post and MoneySense about that suspension of mortgage brokers by Home Capital.

October 31, 2015
3:33 am
Loonie
Member
Members
Forum Posts: 9395
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline
Go to Top
2sp_Permalink sp_Print

Goodness! There are so many issues here.sf-surprised I'm amazed people would put themselves in such a compromised position, and apparently do it regularly.

Looks like Home Capital did the right thing.

TD? - not so much.

And Home Capital / Oaken gives us better interest rates - and sometimes nice chocolates too.sf-wink

October 31, 2015
10:43 pm
Norman1
Member
Members
Forum Posts: 7192
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline
Go to Top
3sp_EditHistory sp_Permalink sp_Print

Loonie said

Goodness! There are so many issues here.sf-surprised I'm amazed people would put themselves in such a compromised position, and apparently do it regularly.
....

Well, overreaching home buyers, commissioned mortgage brokers, and a willingness to bend the truth are a potent mix!

In the Globe & Mail article, Stuart Levings, CEO of mortgage insurer Genworth MI Financial Inc., makes this observation:

"You know how it is these days, folks just want that home. They could qualify if they looked at a lower-priced home."

No permission to create posts
sp_Feed All RSS
Go to top

Please write your comments in the forum.