FBC GROUP is not licensed to conduct mortgage business in Ontario

TORONTO, June 29, 2021 /CNW/ - The Financial Services Regulatory Authority of Ontario (FSRA) is warning consumers that FBC GROUP operating out of Unit 223, 1325 Eglinton Ave E, Mississauga, Ontario, L4W4L9 is not licensed to conduct mortgage business in Ontario.

Consumers reported that after paying a fee for financing, FBC Group did not follow up with them. FSRA encourages consumers to exercise caution if they are contacted by the company or anyone claiming to represent FBC GROUP. Consumers are also advised not to obtain a mortgage arranged through FBC GROUP.

It has come to FSRA's attention that FBC Group is conducting mortgage business without a valid license through https://www.fbcgroup.ca/. In addition, the phone numbers (905)-629-3737 and 1-877-318-1537 listed on the website appear to be for other unrelated companies.

FSRA licenses mortgage brokerages, brokers and agents to safeguard public confidence and trust in Ontario's financial services. If consumers obtain a mortgage through individuals or companies not licensed by FSRA, they are not protected under the Mortgage Brokerages, Lenders and Administrators Act, 2006 and its regulations that govern Ontario's licensed mortgage brokerages, brokers and agents.

Consumers are also encouraged to check the public registry to ensure they are working with a licensed mortgage broker, agent, brokerage, or administrator.

FSRA is continuing to work with those we regulate to ensure financial safety, fairness and choice for consumers and members. Learn more www.fsrao.ca.

SOURCE Financial Services Regulatory Authority of Ontario