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Ontario Coat of Arms
Financial Services
of Ontario

5160 Yonge Street,
Box 85
Toronto ON  M2N 6L9

REGARDING the Mortgage Brokerages, Lenders and Administrators Act,
2006, S.O. 2006, c.29 (the “Act”), in particular sections 7, 38 and 39

AND REGARDING Unity Mortgage Corporation (“Unity”)



On February 24, 2012, the Superintendent of Financial Services (“Superintendent”) issued and served a Notice of Proposal to Impose an Administrative Monetary Penalty. Unity had until March 19, 2012, after service of the Notice, to request a hearing before the Financial Services Tribunal (“Tribunal”) in accordance with the Act.

The Registrar of the Tribunal has confirmed that no request for a hearing has been received from Unity or anyone on the brokerage’s behalf in respect of the proposal to impose the administrative monetary penalty.

The Superintendent is satisfied that:

  1. Unity is contravening or not complying with or has contravened or failed to comply with section 7(4) of the Act and section 42 of Regulation 188/08, in that Unity failed to have errors and omissions (“E&O”) insurance as required for the period April 2, 2009 to February 9, 2011;
  2. Unity contravened section 45 of the Act by furnishing false or misleading information to the Superintendent.

Section 39(7) of the Act provides that the Superintendent may carry out the proposal to impose an administrative monetary penalty when no hearing has been requested.



Administrative monetary penalties are imposed on Unity Mortgage Corporation, as follows:


TAKE NOTICE THAT Unity will be receiving shortly an invoice from Ontario Shared Services, a part of the Ministry of Government Services, with information as to where and how to make the payment. Unity must pay the administrative monetary penalty no later than 30 days after the date of the invoice.

If Unity fails to pay the administrative monetary penalty in accordance with the terms of this Order, the Superintendent may file the Order with the Superior Court of Justice and this Order may be enforced as if it were an order of the court. An administrative monetary penalty that is not paid in accordance with the terms of an order imposing the penalty is a debt due to the Crown and is enforceable as such.


DATED at Toronto, Ontario, March 29, 2012.

Original Signed By

Philip Howell
Superintendent of Financial Services

© Queen's Printer for Ontario, 2012