Asset Capital Mortgage Corporation - Mortgage Brokerage Suspension

Calgary, Alberta - On September 6, 2011, pursuant to s.35(2)(c) of the Real Estate Act Rules, the Executive Director of the Real Estate Council of Alberta suspended the licence of Asset Capital Mortgage Corporation, mortgage brokerage, operating in Edmonton. The suspension of the mortgage brokerage resulted when its broker was unable to perform the duties and responsibilities of a broker as outlined in the Real Estate Act Rules.

As a result of this suspension, Asset Capital Mortgage Corporation may not deal in mortgages as a mortgage brokerage in Alberta at this time.

The Real Estate Council of Alberta (RECA) is an independent, non-government agency, responsible for regulating real estate, mortgage broker, and real estate appraisal industry professionals under Alberta’s Real Estate Act. RECA is mandated to protect consumers and to provide services that enhance and improve the industry and the business of industry members.