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File a Mortgage Broker Complaint

File a Mortgage Broker Complaint

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BCFSA protects the public and enhances the mortgage broker industry by enforcing mortgage broker suitability requirements, and reducing and preventing market misconduct under the Mortgage Brokers Act and Mortgage Broker Act Regulation.

When an individual makes a complaint about a mortgage broker, BCFSA may investigate and take disciplinary action if it is necessary.

To learn about BCFSA’s processes for handling complaints and inquiries related to matters within our authority, please review the information on this page.

  • If your concern involves any legal matter you should consider obtaining legal advice. You can contact the Lawyer Referral Service of the B.C. branch of the Canadian Bar Association at (604) 687-3221 or toll free at (800) 663-1919.

  • In order to address your complaint some or all of the details may be sent to the Mortgage Broker, upon receiving your consent. This allows the Mortgage Broker the opportunity to provide a complete response to the complaint for our review.

    Allegations of any sort of misconduct should be accompanied by some evidence to allow us to begin an inquiry. If such evidence cannot be provided, our ability to conduct any type of review of the matter may be limited.

    Please note that the Freedom of Information and Protection of Personal Information Act applies to BCFSA records and information.

  • If a complaint involves an issue that is about a registered Mortgage Broker, but is a matter which does not generally fall within our authority, you can still submit it. You will receive correspondence acknowledging we have received it, but no inquiry will be conducted.

    The complaint will be logged and kept in our files. These complaints help to identify trends which we may bring to the attention of the Mortgage Broker or industry involved in order to rectify problems voluntarily. If BCFSA considers it appropriate, orders and penalties may also be considered.

Can BCFSA Investigate My Complaint?

Many complaints cannot be investigated because they are submitted with incomplete information or do not fall within the type of complaints BCFSA has the authority to investigate. This can lead to disappointment for the person making the complaint.

BCFSA can investigate any complaints involving a breach of the Mortgage Broker Act and the Mortgage Broker Act Regulation.

  • BCFSA Cannot Investigate:

    • Bank and Credit Union employees;
    • Property in another jurisdiction (outside of B.C.);
    • Contractual matters;
    • Issues for which you are seeking restitution/monetary damages; and
    • Criminal Offences.

    If your complaint does not fall within the scope of Mortgage Broker Act or the Mortgage Broker Act Regulation, you may wish to contact another regulatory body.

  • BCFSA Can Investigate:

    • Registered Mortgage Broker in B.C.;
    • Mortgages services in B.C.;
    • Mortgage property in B.C.;
    • Prohibited fees;
    • Unregistered activities broker/lender;
    • Disclosure issues (Form 9 — Lender Disclosure Statement, Form 10 — Conflict of Interest Disclosure, Cost of Credit Disclosure);
    • Misrepresentations; and
    • Fraudulent activities including misleading information to borrowers/lenders.

  • I’m Still Not Sure if My Complaint is a Matter that Can be Resolved by BCFSA

    If you have questions about the duties and obligations of mortgage professionals and are wondering if you should file a complaint with the BCFSA, you can contact BCFSA’s Practice Standards Advisors.

    Learn More about Practice Standards Advisors