O. Reg. 392/22: MORTGAGE BROKERS AND AGENTS: STANDARDS OF PRACTICE
filed April 20, 2022 under Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c. 29
Skip to contentontario regulation 392/22
made under the
Mortgage Brokerages, Lenders and Administrators Act, 2006
Made: April 14, 2022
Filed: April 20, 2022
Published on e-Laws: April 20, 2022
Printed in The Ontario Gazette: May 7, 2022
Amending O. Reg. 187/08
(MORTGAGE BROKERS AND AGENTS: STANDARDS OF PRACTICE)
1. (1) Subsection 8 (1) of Ontario Regulation 187/08 is revoked and the following substituted:
Use of name, etc., in public relations materials
(1) A mortgage broker or agent shall clearly and prominently disclose, in all of the broker’s or agent’s public relations materials, the following information:
1. The broker’s or agent’s licensee name.
2. Whether the individual has a Mortgage Agent Level 1 licence or a Mortgage Agent Level 2 licence.
3. The authorized name and licence number of the brokerage on whose behalf the individual is authorized to deal or trade in mortgages.
(2) Paragraph 2 of subsection 8 (3) of the Regulation is revoked and the following substituted:
2. When referring to an agent, the title “Mortgage Agent Level 1”, “Mortgage Agent Level 2”, “agent en hypothèques de niveau 1”, “agent en hypothèques de niveau 2” or an abbreviation of any of those titles.
2. This Regulation comes into force on the later of April 1, 2023 and the day it is filed.