Welcome to REMIC’s mortgage and life insurance education blog; your source for licensing tips, industry updates, and professional training insights
Expropriation According to section 1 of the Expropriations Act, expropriation means “the taking of land without the consent of the owner by an expropriating authority in the exercise of its statutory powers”[i]. Considering that land ownership is a...
Here are some Do’s and Don’ts for advertising your mortgage business When a brokerage is developing policies and procedures that ensure its public relations materials are compliant, it may wish to include some of the following advertising tips from the Competition...
Why People Do Bad Things… like commit fraud Traditionally, when we think about bad behavior, fraud for example, we think about character. But psychologists who study bad behavior — who study, say, fraud in the business world — have found that that character doesn’t...
5 Defects to Avoid in a Contract A contractual defect is a significant flaw in a contract that affects the intention to create a legal relationship, causing the contract to be void or voidable. This type of defect can be caused by:• Misrepresentation• Duress• Undue...
What is Property Insurance? Property insurance is a policy of insurance that provides coverage for the homeowner against covered risks. Why is it necessary? Basic insurance to cover the replacement of the building (normally the house) and other structures on the...
Finance Minister Joe Oliver denies that Canada is in the midst of a recession, saying he’s still confident the economy will grow this year. Source: ‘We’re not in a recession’: Finance minister confident in Canadian economy | CTV News
TFSA and Mortgage Investing The TFSA (Tax Free Savings Account) limit increase, based on a 2011 Conservative election promise, is going to be a great boon to those who are in the middle class. Especially those who invest in high yield investment, such as...
Property Value Fraud The Appraisal Property value fraud can occur when criminals, in association with a dishonest appraiser, may have a property appraised at a higher value than it is worth. The criminal will then obtain a mortgage based on the inflated value and...
5 Steps in Fraud Prevention It is of vital interest to both the integrity of the mortgage brokerage industry and the mortgage industry as a whole that mortgage fraud be prevented whenever possible. As criminals use more sophisticated methods of committing fraud it is...
11 Ways Consumers Can Prevent Mortgage Fraud While there are several methods available to industry participants to assist in preventing fraud, there are also several approaches available to consumers. The following advice should be given to a mortgage agent’s...
Mortgage Fraud for Shelter Fraud for shelter is one of the most common forms of fraud in the mortgage industry. This type of fraud occurs when an individual wishes to purchase a home in which to reside with no intent to abscond with mortgage funds or fraudulently sell...
7 Advertising Techniques Brokers Should Avoid Brokerages must be keenly aware of the definitions of the terms used in this Regulation, especially in this climate of financial turmoil and the increase of oversight of lending and brokering practices. Several other...