Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Can Mortgage Brokers engage in leasing activities? If so, is leasing governed by the Mortgage Brokerages, Lenders and Administrators Act, 2006?

April 26, 2017ACT activities administrators brokerages brokers engage governed leasing lenders mortgage

0

Posted

Can Mortgage Brokers engage in leasing activities? If so, is leasing governed by the Mortgage Brokerages, Lenders and Administrators Act, 2006?

1 Answer

0

Posted

Mortgage Brokers can engage in leasing activities. Leasing is not governed by the Mortgage Brokerages, Lenders and Administrators Act, 2006. If a Mortgage Broker is engaged in another business, the Mortgage Brokerage should ensure the other business does not jeopardize the Mortgage Brokerage’s integrity, independence or competence. The Mortgage Brokerage should also not use any information that is obtained while carrying on business for any other purpose, without the written consent of the person who is the subject of the information.