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Activities that can cause Mortgage License Suspension in Alberta

On February 16, 2022, a Hearing Panel for the Real Estate Council of Alberta (RECA) suspended the mortgage associate licence of John Doe for the period of three months, beginning April 1, 2022

The Hearing Panel determined that John breached the following:

Real Estate Act Rules s.42

Licensee must not:

(a) make representations or carry on conduct that is reckless or intentional and that misleads or deceives any person or is likely to do so
(b) participate in fraudulent or unlawful activities in connection with the provision of services or in any dealings

The Hearing Panel also imposed fines and costs to John of:

  • $20,000 for breach of Rules s.42(a)
  • $20,000 for breach of Rules s.42(b)
  • $500 in costs for the investigation and proceedings

John was most recently registered as a mortgage associate with 1170245 Alberta Ltd. o/a Dominion Lending Centres Global.Jo