How is a borrower/investor supposed to know if a Mortgage Broker/Agent is lying about being unbiased when searching for mortgages?
Each Mortgage Brokerage must disclose its relationship with lenders, including the number of lenders it has arranged mortgages with during the past fiscal year. Mortgage Brokerages have a duty to ensure the mortgage is suitable for the borrower, lender or investor. Mortgage Brokerages are also required to act with honesty and integrity as a condition of licensing.
Related Questions
- How is a borrower/investor supposed to know if a Mortgage Broker/Agent is lying about being unbiased when searching for mortgages?
- Is a Principal Broker or Mortgage Broker/Agent allowed to lend his/her own money to a borrower through the Mortgage Brokerage?
- As a Mortgage Broker / Banker, can I obtain a private investor loan for my borrower and still receive a commission?
