Gerard Brand and Sovereign Mortgage Services Ltd. - Licences Suspended

Calgary, Alberta – On August 20, 2012, the Real Estate Council of Alberta suspended the authorization of Gerard Brand, mortgage broker. The suspension is in accordance with s.38(4.2) of the Real Estate Act and occurred as a result of Gerard Brand’s refusal to cooperate with a person conducting an investigation.

As a result of this suspension, Gerard Brand may not deal in mortgages as a mortgage broker in Alberta at this time.

On August 20, 2012, pursuant to s.35(2)(b) of the Real Estate Act Rules, the Executive Director of the Real Estate Council of Alberta also suspended the licence of Sovereign Mortgage Services Ltd., mortgage brokerage, operating in Calgary. The suspension of the mortgage brokerage resulted when its broker, Gerard Brand, was suspended.

As a result of this licence suspension, Sovereign Mortgage Services Ltd. 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 governing 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 professionals.

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