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File a mortgage broker complaint
Can BCFSA investigate my complaint?
BCFSA oversees mortgage services in B.C. If you have evidence that a mortgage services provider has not followed legislation, or is providing services without being licensed to do so, we want to hear from you.
We review every complaint BCFSA receives. We receive concerns about a wide range of misconduct and focus our efforts on matters that indicate serious misconduct, repeated non-compliance, or a risk of significant consumer harm. This means while all complaints are assessed, not every complaint will result in an investigation.
If we determine your concern does not require further investigation, we will inform you and, where appropriate, direct you to other options for resolving your issue, such as contacting a licensee’s managing broker or seeking your own independent professional advice. We retain all complaints to help identify emerging risks.
Examples of complaints that may not warrant further investigation include:
- minor or technical related issues that can be resolved by the brokerage (e.g. advertising related concerns)
- service based issues (e.g. unwanted solicitation)
- issues related to a licensee’s behaviour where no material harm is present.
This approach allows us to focus on matters that pose the greatest risk to consumers while continuing to monitor concerns across the industries we regulate.
When BCFSA decides not to investigate a matter, the complainant will be notified of the file closure. The information received will also be retained to help identify and monitor regulatory risks.
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.
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.
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
Ready to submit your complaint?
YES: I am ready to submit a complaint.
Submit a complaint (will open in a new tab)NO: I’m not sure if BCFSA can address my complaint.
See if another regulator can address your concerns:
Find other regulators (will open in a new tab)OR: BCFSA’s Practice Standards Advisors can help explain the responsibilities of real estate professionals.
Learn more about Practice Standards Advisors (will open in a new tab)NO: I prefer to file a complaint that doesn’t include my name.
If you don’t have evidence, or if you prefer not to proceed with a formal complaint but believe BCFSA should be aware of an issue, you can submit your concern using our anonymous complaint form.
Make an anonymous complaint (will open in a new tab)