If they pass the Mortgage Broker Education Program, FSCO must establish that they reside in Ontario and work at a licensed brokerage to issue an individual the license allowing them to
practice as a mortgage broker in Ottawa, ON.
Not exact matches
(1) The following shall be exempt from the Credit Services Organization Act: (a) A person authorized to make loans or extensions of credit under the laws of this state or the United States who is subject to regulation and supervision by this state or the United States or a lender approved by the United States Secretary of Housing and Urban Development for participation in a
mortgage insurance program under the National Housing Act, 12 U.S.C. 1701 et seq.; (b) A bank or savings and loan association whose deposit or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or a subsidiary of such a bank or savings and loan association; (c) A credit union doing business in this state; (d) A nonprofit organization exempt from taxation under section 501 (c)(3) of the Internal Revenue Code; (e) A person licensed
as a real estate
broker or salesperson under the Nebraska Real Estate License Act acting within the course and scope of that license; (f) A person licensed to
practice law in this state acting within the course and scope of the person's
practice as an attorney; (g) A
broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (h) A consumer reporting agency; (i) A person whose primary business is making loans secured by liens on real property; (j) A person, firm, corporation, or association licensed
as a collection agency in this state or a person holding a solicitor's certificate in this state acting within the course and scope of that license or certificate; and (k) A person licensed to engage in the business of debt management pursuant to sections 69 - 1201 to 69 - 1217.
«Credit Services Organization» does not include any of the following: (i) a person authorized to make loans or extensions of credit under the laws of this State or the United States who is subject to regulation and supervision by this State or the United States, or a lender approved by the United States Secretary of Housing and Urban Development for participation in a
mortgage insurance program under the National Housing Act (12 U.S.C. Section 1701 et seq.); (ii) a bank or savings and loan association whose deposits or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation, or a subsidiary of such a bank or savings and loan association; (iii) a credit union doing business in this State; (iv) a nonprofit organization exempt from taxation under Section 501 (c)(3) of the Internal Revenue Code of 1986, [FN1] provided that such organization does not charge or receive any money or other valuable consideration prior to or upon the execution of a contract or other agreement between the buyer and the nonprofit organization; (v) a person licensed as a real estate broker by this state if the person is acting within the course and scope of that license; (vi) a person licensed to practice law in this State acting within the course and scope of the person's practice as an attorney; (vii) a broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (viii) a consumer reporting agency; and (ix) a residential mortgage loan broker or banker who is duly licensed under the Illinois Residential Mortgage License Act
mortgage insurance program under the National Housing Act (12 U.S.C. Section 1701 et seq.); (ii) a bank or savings and loan association whose deposits or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation, or a subsidiary of such a bank or savings and loan association; (iii) a credit union doing business in this State; (iv) a nonprofit organization exempt from taxation under Section 501 (c)(3) of the Internal Revenue Code of 1986, [FN1] provided that such organization does not charge or receive any money or other valuable consideration prior to or upon the execution of a contract or other agreement between the buyer and the nonprofit organization; (v) a person licensed
as a real estate
broker by this state if the person is acting within the course and scope of that license; (vi) a person licensed to
practice law in this State acting within the course and scope of the person's
practice as an attorney; (vii) a
broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (viii) a consumer reporting agency; and (ix) a residential
mortgage loan broker or banker who is duly licensed under the Illinois Residential Mortgage License Act
mortgage loan
broker or banker who is duly licensed under the Illinois Residential
Mortgage License Act
Mortgage License Act of 1987.
In addition to the courts, Dennis has built a successful
practice in representing individuals and companies before administrative tribunals such
as the State of Illinois Liquor Control Commission, the Sheriff's Merit Board and the Illinois Department of Financial and Professional Regulation, where he recently succeeded in overturning a
mortgage broker's license suspension.
To
practice as a
mortgage associate in Alberta, students are required to take the Mortgage Associate Program (MAP), consisting of two courses: a fundamentals course offered by Real Estate Council Alberta and a practice course offered by our partners the Alberta Mortgage Brokers Asso
mortgage associate in Alberta, students are required to take the
Mortgage Associate Program (MAP), consisting of two courses: a fundamentals course offered by Real Estate Council Alberta and a practice course offered by our partners the Alberta Mortgage Brokers Asso
Mortgage Associate Program (MAP), consisting of two courses: a fundamentals course offered by Real Estate Council Alberta and a
practice course offered by our partners the Alberta
Mortgage Brokers Asso
Mortgage Brokers Association.
287 DOS 98 Matter of DOS v. Uqdah Realty & Management Corp. — deposits; jurisdiction; fraudulent
practices; failure to pay judgment; vicarious liability; notary public; disclosure of agency relationship;
broker violated 19 NYCRR 175.1 when he deposited escrow funds into his operating account;
broker committed conversion when his operating account fell below deposit amount;
broker engaged in fraudulent
practices when he illegally retained buyer's trust funds and attempted to qualify prospective buyer for
mortgage by falsely stating their employment;
broker failed to disclose his agency relationship to his client; failure to pay judgment; corporate real estate
broker vicariously liable and charged with actual knowledge of violation of law because of representative
broker's cognizant misconduct
as corporate officer;
broker is not required to deposit a refundable commission in an escrow account unless contractually demanded; corporate
broker and representative
broker's license revoked; restitution of deposit of $ 12,000 plus interest; notary public commission revoked based on misconduct
as a real estate licensee
79 DOS 99 Matter of DOS v. Pagano - disclosure of agency relationships; failure to appear at hearing; proper business
practices; unauthorized
practice of law; unearned commissions; vicarious liability; fraudulent
practice; jurisdiction; ex parte hearing may proceed upon proof of proper service; DOS has jurisdiction after expiration of respondents» licenses
as acts of misconduct occurred and the proceedings were commenced while the respondents were licensed; licensee fails to timely provide seller client with agency disclosure form prior to entering into listing agreement and fails to timely provide agency disclosure form to buyer upon first substantive contact;
broker fails to make it clear for which party he is acting;
broker violates 19 NYCRR 175.24 by using exclusive right to sell listing agreement without mandatory definitions of «exclusive right to sell» and «exclusive agency»;
broker breaches fiduciary duties to seller clients by misleading them
as to buyer's ability to financially consummate the transaction;
broker breaches his fiduciary duty to seller by referring seller to the attorney who represented the buyers when he knew or should have known such attorney could not properly protect seller's interests; improper for
broker to use listing agreements providing for
broker to retain one half of any deposit if forfeited by buyer
as such forfeiture clause could, by its terms, allow
broker to retain part of the deposit when
broker did not earn a commission;
broker must conduct business under name
as it appears on license;
broker engaged in the unauthorized
practice of law in preparing contracts for purchase and sale of real estate which did not contain a clause making it subject to the approval of the parties» attorneys and were not a form recommended by a joint bar / real estate board committee;
broker demonstrated untrustworthiness and incompetency in using sales contract which purported to change the terms of the listing agreement to include a higher commission;
broker demonstrated untrustworthiness and incompetency in using contracts of sale which were unclear, ambiguous, vague and incomplete;
broker failed to amend purchase agreement to reflect amendment to increase deposit amount;
broker demonstrated untrustworthiness in back - dating purchase agreements;
broker demonstrated untrustworthiness in participating in scheme to have seller hold undisclosed second
mortgage and to mislead first mortgagee about the purchaser's financial ability to purchase;
broker demonstrated untrustworthiness by claiming unearned commission and filing affidavit of entitlement for unearned commission; DOS fails to establish by substantial evidence that respondent acted
as undisclosed dual agent; corporate
broker bound by the knowledge acquired by and is responsible for acts committed by its licensees within the actual or apparent scope of their authority; corporate and individual
brokers» licenses revoked, no action taken on application for renewal until proof of payment of sum of $ 2,000.00 plus interests for deposits unlawfully retained
The Bureau believes, however, that many creditors and
mortgage brokers will mitigate this potential cost by adjusting their business
practices surrounding the receipt of applications to gather other important information prior to, or at the same time
as, they obtain the six items that together constitute an «application.»
The Bureau believes, however, if this were to impose substantial costs, creditors and
mortgage brokers would mitigate this by adjusting their business
practices surrounding the receipt of applications to gather other important information prior to, or at the same time
as, they obtain the six items that together constitute an «application.»