Search result for: mortgage fraud
Mortgage fraud occurs when individuals intentionally deceive lenders, borrowers, sellers, and others to obtain mortgage financing. It undermines the integrity of the mortgage industry and...
Calgary, Alberta — on November 20, 2023, the Real Estate Council of Alberta (RECA) cancelled the licence of Casurt Roy Morgan. Morgan cannot reapply for...
RECA recently warned consumers who are private lenders about recent fraudulent activity. RECA is currently investigating instances where private entities and related businesses have presented...
by Gary Siegle, RECA Regulatory Compliance Advisor, Mortgage Brokers To protect consumers and lessen instances of fraud, the mortgage industry is regulated in Canada, with...
Calgary, Alberta — on June 26, 2023, the Real Estate Council of Alberta (RECA) cancelled the licence of Bhalinder Singh Dhaliwal. Dhaliwal cannot reapply for...
by James Porter, RECA Investigations Manager At the Real Estate Council of Alberta (RECA), we are here to both protect consumers and promote the integrity...
Please note this Hearing Panel Decision was appealed on August 16, 2023 and some of the administrative penalties were amended. You can find the Appeal...
by Gary Siegle, RECA Regulatory Compliance Advisor, Mortgage Brokers While perhaps not as prevalent as in larger jurisdictions with accelerated real estate markets, Alberta’s real...
Calgary, Alberta—March marks the beginning of Fraud Prevention Month (FPM) across Canada. The Real Estate Council of Alberta (RECA) is taking action to raise awareness...
Calgary, Alberta—On November 30, 2020, the Administrator of the Real Estate Council of Alberta (RECA) suspended the real estate licence of Gagandeep Singh. Mr. Singh...
RECA has opened a new consultation about proposed changes to the Real Estate Act Rules regarding mortgage broker standards of practice. The consultation is based...
When consumers get desperate, fraudsters make their move. In tough economic times, more and more Albertans are struggling to make mortgage payments and could become...
All Alberta mortgage brokerages are required to have insurance against liability for errors and omissions, and additional coverage for loss resulting from fraudulent acts in...
Online form: Anonymously submit a fraud tip to RECA Purpose RECA’s mandate includes protecting against, investigating, detecting, and suppressing mortgage fraud as it relates to...
The Real Estate Council of Alberta (RECA) is reviewing mortgage brokerage standards and Rules to enhance consumer protection, ensure our standards of practice are strong,...
As an independent governing authority, RECA sets, regulates, and enforces regulatory standards for real estate, property management, condominium management, and mortgage brokerage licensees across the...
Remembering Graham Downey It is with great emotion we announce that Graham Downey, former Chair of Council, passed away in December. Graham was a real...
The new report Money laundering is a global issue that recently caught our country’s sober attention. Last May, the B.C. government released a report about...
Council received a report on the RECA Communications Audit Downey, Norris & Associates presented the results of RECA’s Communications Audit. The objectives of the audit...
1. Council elected Brian Klingspon as Chair and Bonny Clark as Chair-Elect Brian and Bonny will serve in these positions from November 1, 2017 to...
Christine Zwozdesky - Chair, Real Estate Council of Alberta We want to hear from you on Openness and Transparency I hope many of you have...
Bridge loans are a financial tool used in real estate transactions which offer short-term financing to bridge the gap between purchasing a new property and...
Calgary, Alberta—on June 18, 2024, the Real Estate Council of Alberta (RECA) suspended the real estate associate licence of Eric Andrew Drinkwater under s.53 of...
Calgary, Alberta –the Real Estate Council of Alberta (RECA) is warning consumers about the activity of Azher Haleem Chaudhary, AKA Azher Haleem (Chaudhary). Since 2017,...
RECA releases information to the media and the public when we have announcements, issue a consumer alert, suspend a licensee, or when licensees take a...
Calgary, Alberta –the Real Estate Council of Alberta (RECA) is warning consumers who are private lenders about recent fraudulent activity. Private lending includes the business...
Unless otherwise indicated, all numbers in this report are based on 2022 fiscal year-end data. In order to fulfil RECA’s consumer protection mandate, we require...
Calgary, Alberta – On June 15, 2023, the Mortgage Broker Industry Council of the Real Estate Council of Alberta (RECA) approved an application by Harsimran Kaur Saini under Section...
Calgary, Alberta—on March 28, 2023, the Real Estate Council of Alberta (RECA) cancelled the real estate associate licence of Caren Sylvia Kelley. Kelley cannot reapply...
RECA releases information to the media and the public when we have announcements, issue a consumer alert, suspend a licensee, or when licensees take a...
