January 2011

January 2011

Statutory declaration to be filed by every mortgage brokerage without an endorsement

January, 2011 – A statutory declaration must be filed on an annual basis by every mortgage brokerage without an endorsement confirming it did not receive or handle trust funds in its previous fiscal year.

• Statutory Declaration - Mortgage Brokerage
• Mortgage Brokerages compliance with legislation        

    
Notification required when mortgage brokers or associates transfer between mortgage brokerages

January, 2011 – Notification required when mortgage brokers or associates transfer between mortgage brokerages.

Brokers and associates that provide advance notification to the Superintendent that they are moving to another brokerage can avoid having their licence automatically suspended when all requirements are met.

• Advance notice of transfer between brokerages        

    
Mortgage brokers and associates that are seeking to have their suspended licence reinstated must complete and submit an application form

January, 2011 – Mortgage brokers and associates that are seeking to have their suspended licence reinstated must complete and submit an application form.

A licence issued to a broker or associate is automatically suspended when they are no longer authorized to broker mortgages on behalf of the brokerage listed on their licence.  To reinstate their licence, a form must be completed and submitted.        

• Reinstatement of a suspended licence

    
Notification form for brokers or associates when they are no longer authorized to broker mortgages on behalf of the brokerage

January, 2011 – Notification form for brokers or associates when they are no longer authorized to broker mortgages on behalf of the brokerage.

Notification must be provided to the Superintendent by a Mortgage Broker or Associate when they are no longer authorized to broker mortgages on behalf of the brokerage listed on their licence.  This notification must be provided within 7 days.

• Notice of no longer brokering on behalf of brokerage

    
Notification form for mortgage brokerages to inform the Superintendent when a broker or associate is no longer authorized to broker mortgages on its behalf

January, 2011 – Notification form for mortgage brokerages to inform the Superintendent when a broker or associate is no longer authorized to broker mortgages on its behalf.

Notification must be provided to the Superintendent by a Mortgage Brokerage when a broker or associate is no longer authorized to broker mortgages on its behalf.  This notification must be provided within 7 days.

• Notice of Termination - Brokerage