Apr 1, 2016, 12:56 PM
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Mortgage Broker Regulator's Council of Canada
MBRCC Secretariat
5160 Yonge Street
16th Floor, Box 85
Toronto, ON M2N 6L9
Email: mbrcc-ccarch@fsco.gov.on.ca
Telephone: (416)
Fax: (416)
Policy Manager
Hello ,
My name is Anoop Bungay and my firm is Canada's undisputed leader in process compliance and quality management in Canada's Finance Sector, for the scope of: Mortgage Banking and Mortgage Brokering. Specifically, since May 2008, MortgageQuote Canada Corp. is Canada's first and only company in the finance sector that "operates a Quality Management System which complies with the requirements of ISO 9001:2008 for the following scope: Provision of mortgage banking and mortgage brokerage services." Bank of Canada and CIBC also have ISO 9001-family certifications (we share the same auditors as CIBC), but neither company has certification in the field of mortgages.
WHAT DO WE WANT?
In the interests of public service, risk reduction and liability cost reduction, we seek to have mortgage regulators and errors and omissions insurance companies require that all mortgage brokers who seek to trade in either mortgage transactions or specifically, PRIVATE LENDING mortgage transactions, to utilize MortgageQuote's ISO 9001:2008 certified, litigation-tested, proprietary, Integrated Mortgage Processing and Quality Management System for processing their transactions.
Real Life Business Problem that we Solve (source page):
We are only interested in sharing the technology in collaboration with regulators or EOE insurance providers, (both insurers and EO insurance brokers).Experienced Errors and Omissions Insurance professionals state that that the biggest complaint of a mortgage brokerage firm and their agents, when subject to either a valid or frivolous E&O claim, is that the broker or agent 'did nothing wrong', but cannot effectively prove it - in an objective manner. Well now you can.Our ISO 9001:2008 certified, regulatory compliant, litigation-tested, proprietary, Integrated Mortgage Processing and Quality Management System mortgage operations engine is designed to ensure mortgage brokers operate in a manner that minimizes E&O claims and if a claim arises, is the basis of proving whether or not a mistake was made. There are over 1000 steps to a mortgage transaction and at MortgageQuote, each and every step is documented and managed for quality by real-time validation.The system is designed to minimize errors, omissions, "willful blindness" events and related processing errors by licensed agents and unlicensed employees. The MQCC "engine" is is both a management system and quality management system for a mortgage brokerage firm.While the system works for all types of mortgage transactions, we have found it is very effective for controlling the quality of private mortgage transactions which tend to be more profitable than non-private mortgage transactions. And an area of the industry that would best benefit from a system such as this.
WHY MBRCC?
Your member regulator's are too busy regulating; MBRCC is uniquely created to address a query like ours for the benefit of your members, who trust your organization to represent their interests.
In your role at the Secretariat and your position as Policy Manager, you are uniquely positioned to understand the nature of MortgageQuote's "inventive solution" and it's implications on an ecosystem that, until now, has not been able to provide a definitive, third-party, internationally
Feel free to visit our website (www.mortgagequote.ca) and explore what we have done.
Your initial thoughts?
Anoop Bungay
If you have questions, please contact me at your convenience. In order to prevent errors and omissions, email is the preferred choice of communication.
Thank you for choosing MortgageQuote Canada Corp., 'Proud sponsor of the Canadian dream.'®
Sincerely yours,
MortgageQuote Canada Corp.
Alberta (AB) * British Columbia (BC) * Ontario (ON)
ON Brokerage License #12279
"Proud Sponsor of the Canadian Dream"®
An ISO 9001:2008 Registered Company
PRIVILEGE AND CONFIDENTIALITY NOTICE
This communication and any attachment are confidential and may be subject to broker-client/lender-client privilege. Any other distribution, copying or disclosure is strictly prohibited. If you have received this communication or any attachment in error please notify us by reply and delete the communication or attachment.
