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Ontario Coat of Arms
 
Financial Services
Commission
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 H & N Fortune Enterprises Inc., o/a Easy Mortgage Centre (“Easy Mortgage”)

 

ADMINISTRATIVE MONETARY PENALTY ORDER

On September 7, 2011, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to Impose an Administrative Monetary Penalty on Easy Mortgage.

Easy Mortgage requested a hearing before the Financial Services Tribunal (“Tribunal”) in accordance with the Act.  On April 2, 2012, a hearing was held before the Tribunal. By decision dated April 26, 2012, the Tribunal ordered the Superintendent to carry out the proposal to impose an administrative monetary penalty on Easy Mortgage with the amount varied from $2,000 to $1,500.

 

ORDER

An administrative monetary penalty in the amount of $1,500 is imposed on H & N Fortune Enterprises Inc., o/a Easy Mortgage Centre, pursuant to section 39 of the Act.

TAKE NOTICE THAT Easy Mortgage 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. Easy Mortgage must pay the administrative monetary penalty no later than 30 days after the date of the invoice.

If Easy Mortgage 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 are a debt due to the Crown and are enforceable as such.

 

DATED at Toronto, Ontario, May 8, 2012.

Original Signed By

Philip Howell
Superintendent of Financial Services

© Queen's Printer for Ontario, 2012