April 10, 2012
The Financial Services Commission of Ontario (FSCO) is warning consumers that Whitcor Consultant is not licensed to do mortgage brokering business in Ontario.
This company has also advertised under the name Whitcor Consulting.
If consumers arrange a mortgage from a mortgage brokerage, broker or agent that is not licensed in the province, they are not protected under the Mortgage Brokerages, Lenders and Administrators Act, 2006 , which holds Ontario’s mortgage brokerages, administrators, brokers and agents to specific standards.
A licensed Ontario mortgage brokerage, administrator, broker or agent can provide information and advice on the risks involved in borrowing, lending or investing for different mortgage products.