Mortgage brokers call for tougher regulations

The allegations of falsified client information that led to the dismissal of dozens of mortgage brokers by Home Capital has prompted calls for tougher regulations.

The call has been made not by regulators but by mortgage brokers like Dominion Lending Centres’ broker Walid Hammani who told CTV News: "These guys not only give us bad press, but they are also unfair competition.”

He likened the issue to drugs scandals in sport where a few bad apples bring everything into disrepute. Meanwhile, Blair Anderson of Anderson Associates noted that raising the bar on the qualifications to become a broker could help. 
 

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