Mortgage Broker is the magazine of the Canadian Mortgage Brokers Association and showcases the multi-billion dollar mortgage-broking industry to all levels of government, associated organizations and other interested individuals.
Issue link: http://digital.canadawide.com/i/309414
update MortgageBroker mbabc.ca spring 2014 | 13 New Members Corporate Memberships Capri Mortgage Scott Mason Dominion Lending Centres Bluetree Mortgage Andrew Macrae EQ Lending Corp. Daman Lehal Statesman Capital Corp. Michael Balakshin Verico Andrychuk Mortgage Company Inc. Allan Andrychuk Individual Memberships Steven Abramson Harper Grey LLP Gordon Alteman Bona Fides Financial Services Inc. Daniel Audy Verico LendingMax Corp. Mistel Baker Xeva Mortgage Etienne Beaudoin Canada Mortgage & Housing Corp. (CMHC) BC Region Marianne Branham Dominion Lending Centres White House Mortgages Jerry(Prabhjot) Brar TMC - Jerry Brar Mortgages Paul Brar Canada Mortgage & Housing Corp. (CMHC) BC Region Steve Cross First Circle Financial Services Colin Dawes Dominon Lending Centres Michael Duffy iFund Diversified Lending Corp. David Ford DLC Canadian Mortgage Experts Kyle Green Mortgage Alliance Meridian Mortgage Services Janice Hehr Mortgage Architects Tim Hill DLC - Primex Mortgages Aron Hochhauser McMillan Christina Horvath DLC Primex (eap) Mortgages May Hsu Pan-Canadian Mortgage Group Delphine Hunter LendingMax Lance Jakubec Canada Mortgage & Housing Corp. (CMHC) BC Region Ranjeet Janda AK Mortgage Plus Graeme Kaine Mortgage Alliance Catherine Kelland iFund Diversified Lending Corp. Mohammed Khan AAA Canadian Mortgages Inc. Kinga Labunski Verico Nova Financial Services Inc. Adam Lawrenson Adlaw Appraisals Ltd. Annie Lazos Invis Inc. Hans Lee Verico Tom Brothers Financial Ryan Lee Paradigm Mortgage Jamie Liu Verico Tom Brothers Financial Brenda Liu M.C.I. Mortgage Consultants Inc. Krystine McInnes White House Mortgages, DLC Brandee McWhinney DLC Canadian Mortgage Experts Anil Minhas Mortgage Alliance Company David Nguyen TMG e Mortgage Group Canada Inc. Myles Nowik Universal Mortgage Architects Diane Peters e Mortgage Centre Josephine Picco Dominion Lending Centres/City Wide Mortgage Services Mike Poettcker Marlborough Stirling Canada Christina Pughe Verico Complete Mortgage Services Jeff Puhl Brookfield RPS Mercedeh Sadeghieh Dominion Lending Centres Scott Snider Invis - Team Rob Regan-Pollock Wayne Strandlund Fisgard Capital Corp. Vern Stromkins Delta Pacific Management Corp. Nigel Trevethan Harper Grey LLP Andy Vickers e Mortgage Group John Wallace Invis Inc. Practices and Consumer Protection Act, which requires a reporting agency to wipe from a consumer's credit bureau report "any other information adverse to the individual's interest six years aer the event that gave rise to the information". Someone had complained to Consumer Protection BC that enquiries by collection agents were recorded on her credit report and made available to persons who pulled her credit bureau history. However, she claimed that the debts that the collection agents were enquiring about were more than six years old, and that it was improper for the credit- reporting agency not to wipe the enquiries from her credit bureau report. Consumer Protection BC issued a compliance order against Trans Union and Trans Union then sought judicial review of the order from the Supreme Court of BC. Trans Union argued that the enquiries from collection agents were not tied to a particular debt, and that the Act required that an enquiry be removed six years from the date of the enquiry and not six years from the date of the debt. So how did the BC Supreme Court rule? e decision of Consumer Protection BC was upheld. e bottom line is that consumers should expect enquiries from collection agents to be cleaned from their credit bureau report six years from the date of the debt that is connected to the collection agent. Mortgage brokers wishing to assist borrowers with credit repair should check to ensure that this six-year rule is applied properly to their client's bureau. • — S.G. Peoples Trust Company.indd 1 14-01-17 1:07 PM p12-13_6YearRule+FICOM.indd 13 14-05-08 2:38 PM