Registrar of Mortgage Brokers issues stop order

"It is contrary to Canadian law to ask someone to pay upfront fees to obtain financing," said Saanich police Sgt. Dean Jantzen.

Two people have been ordered to stop engaging in mortgage brokering by B.C.’s Registrar of Mortgage Brokers.

Earl Gary Lacharity and Jeanine Verle Ratcliffe are named as the two individuals who, according to the registrar Carolyn Rogers, took advance fees for mortgage financing, despite neither being registered brokers.

In late September, Saanich police issued a warning that similar activity was taking place in the region.

“It is contrary to Canadian law to ask someone to pay upfront fees to obtain financing,” said Saanich police Sgt. Dean Jantzen at the time. Officers were also looking to speak with more victims.

Last week, Jantzen commented on Rogers’ order, saying: “That does pertain to the same investigation (our detectives are involved in.” He added that police have not released any names, however, and wouldn’t confirm these two individuals are involved in their investigation.

kslavin@saanichnews.com

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