MORTGAGEBROKER mbabc.ca fall 2015 | 33
criminalrate
BY RAY BASI
%
Being Overly
Interested Can Be
a Bad Thing
How charging too much interest could
cost you money and freedom
Y
ou are a registered mortgage broker,
have just lent money on a mortgage transaction,
and are going to earn more than 60 per cent
interest. Should you be pinching yourself to
ensure you are not dreaming or worried that you
are risking criminal, civil and regulatory consequences? We
will discuss each of these possible consequences and conclude
with some takeaways for the mortgage broker to consider.
