March 18, 2022 – Stefanie Rae Davidson: Lifetime Withdrawal from Industry

Calgary, Alberta—On March 17, 2022, the Mortgage Broker Industry Council of the Real Estate Council of Alberta (RECA) approved an application by Stefanie Rae Davidson under section 54 of the Real Estate Act to permanently withdraw their licence, effective immediately.

At the time of their application, Davidson was the subject of an investigation under the Real Estate Act Rules. The issues under investigation regarding Davidson were with respect to:

  • multiple breaches of failure to enter into a written service agreement, contrary to s.73(1) of the Real Estate Act Rules
  • providing incompetent service, contrary to s.41(b) of the Real Estate Act Rules
  • failure to fulfil her fiduciary obligations, contrary to s.41(d) of the Real Estate Act Rules
  • multiple breaches of accepting remuneration outside of her brokerage, contrary to s.70(1)(c) of the Real Estate Act Rules

The review into these matters is complete. No finding of conduct deserving of sanction or a referral to a hearing has been made by RECA’s Registrar on any of the issues under investigation.

The investigation found no evidence of fraud or criminal activity, therefore there were no barriers to approving the application under the Real Estate Act s.54(4).

Under the Real Estate Act, the approved withdrawal application results in Davidson’s lifetime prohibition as a licensee, effective immediately. It also results in the discontinuance of the aforementioned conduct proceedings.

For more information, please see the approval letter issued by the Chair of the Mortgage Broker Industry Council.

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