Asset Capital Mortgage Corporation, Gregory Brodeur and Larry Zachow - Suspensions Remain in Effect

Calgary, Alberta – On September 1, 2011, pursuant to s.38.1(1)(c) of the Real Estate Act Rules, the Executive Director of the Real Estate Council of Alberta suspended the licence of Gregory Brodeur, a mortgage broker, and Larry Zachow, a mortgage associate, both of whom were registered with Asset Capital Mortgage Corporation in Edmonton. 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, a mortgage brokerage.

Asset Capital Mortgage Corporation, Gregory Brodeur and Larry Zachow must immediately cease holding themselves out as authorized mortgage brokers in Alberta. Any borrowers or lenders that have dealt with Gregory Brodeur and/or Larry Zachow since September 1, 2011 are asked to call RECA at 1-888-425-2754.

Consumers are reminded to ensure they are working with authorized mortgage brokerages and brokers. When dealing with unauthorized individuals or companies, consumers do not have the protection of the Real Estate Assurance Fund nor of the errors and omissions insurance coverage that all authorized Alberta mortgage brokerages require.

To confirm the licensing status of a brokerage or individual, please use the “Search for an Industry Member” function on the RECA website at www.reca.ca or contact RECA toll-free at 1-888-425-2754.

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.

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