best wishes.
MQCC - FSRA Ontario (FSRAO) - 2020 Late entry query: Mortgage Brokering Technical Advisory Committee: Anoop Bungay
Members of the TAC should be senior members of their respective organization or profession who have operational experience and can represent their organization or profession on relevant issues related to the mortgage or related industry.
- Since at least as early as May 9, 2008, yours sincerely established pan-Provincial harmonized, federal-National-standard-
registered, consumer safety standards for both non-depository mortgage banking (both regulated and non-regulated) and non-depository credit intermediation (both regulated and non-regulated).
- yours sincerely established the federal-National-standard-
registered learning, education, training (LET) and competency and proficiency standards for regulated and non-regulated persons who seek to trade in "private lending" (known by its correct and proper terminology:
- Non-Bank, Non-Institutional, Non-Syndicated, Non-Regulated or Regulatory Exempt, Free Trading Finance; also known as Peer-to-Peer (P2P)/Private/Crypto/Secret/
Shadow Finance
- yours sincerely established the Private Equity Mortgage Institute PEMI® (www.peminstitute.org), which serves as a source identifier and consumer protection function to assure consumers, government and industry of minimum standards of quality, safety, efficiency and efficacy in matters relate to both non-depository mortgage banking (both regulated and non-regulated) and non-depository credit intermediation (both regulated and non-regulated).
- At least as early as April 9, 2005; yours sincerely created the world's first "BlockChain" company for trading in "crypto-financial" [ Non-Bank, Non-Institutional, Non-Syndicated, Non-Regulated or Regulatory Exempt, Free Trading Finance; also known as Peer-to-Peer (P2P)/Private/
Crypto/Secret/Shadow Finance ] products using the world's first commercial and regulatory-integrated application of "utility tokens, securities tokens and smart contracts" through application of the BIT™ trademark brand of COIN™ trademark system-network; a non-volatile utility token service that predates the volatile, experimental, lower level C++ computer program called 'bitcoin', by over 4.5 years.
- MQCC is continuously registered to the risk-based ISO 9001:2015 since at least as early as May 9, 2008 and the ONLY other Canada finance-related organization to make this claim is the BANK OF CANADA.
- Unlike the common and incorrect understanding, Peer-to-Peer real estate secured financial instruments (mortgages) were the first application of "BlockChain" and BIT™ brand COIN™ brand utility tokens; and in 2020, the "Observance, Discovery, Testing, Development, Creation, Re-Testing, Commercialization, Regulatory-Integration, National and International Standardization and Continual Improvement" of commercialized, regulatory-integrated, "BlockChain" and BIT™ brand COIN™ brand utility tokens celebrates 20 years.
- Yours sincerely also established the PEMPAC Private Equity Mortgage Professionals Association of Canada® (www.pempac.org) and formalized prescriptive standards for underwriting under the trademark brand name: GAMUS™ (www.gamus.org) (circa 2010); for both private lending and non-private lending.
- To learn more of how Anoop Bungay contributed to making Canada's mortgage sector, better, safer and more efficient with 20 years of "BlockChain" and BIT™ brand COIN™ brand utility tokens; see various correspondence spanning at least as early as 2016, with the Federal Ministry of Finance; here:
- Please see the attached 10MB pdf with my 2 page resume and Schedule A; if the PDF file is too large, you may see the CLOUD VERSION of CV here.
- You may read textbooks authored for the benefit of government, regulators, legal professionals, consumers, industry, elected and appointed officials, by yours sincerely, at either Amazon or Kindle as follows:
- Over 198 World Leaders from UN, OECD, WIPO, WTO Secretaries and Directors Generals, to Canada's Superintendent of Financial Institutions, to Ministry of Finance to Deputy Premiers of Provincial Governments and Ministers of Finance of Provincial Governments and on ward; through both direct and indirect contact.
A. K. (Anoop) Bungay, B. Comm., C-PEM®-P
Broker
MortgageQuote Canada Corp. (mortgagequote.ca)
Financial services for whom time is worth more than money.™
Alberta (AB) * British Columbia (BC) * Ontario (ON)
ON Brokerage License #12279
communication-policy.
"Proud Sponsor of the Canadian Dream"®
A finance sector process of MQCC™ Money Quality Conformity Control Organization, incorporated in September 2006 as MortgageQuote Canada Corp.: the World's First BlockChain Company™; the World's Most Trusted BlockChain Company™: www.mqcc.org; and Global Network Administrator (GNA™) of the Bungay International Technology (BIT™) Conformity of Organization and Individuals Network (COIN™) Global System-Network: The World's First and Most Trusted "Crypto" System-Network™; established at least as early as April 9, 2005 at www.privatelender.org.
An ISO 9001:2015 Registered Company
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Terms of reference
Introduction
FSRA is seeking mortgage industry representatives to participate on the Mortgage Brokering Technical Advisory Committee (TAC). TAC members will provide FSRA their observations on market conditions and operations. These include issues and challenges that consumers seeking credit and/or the industry face. The TAC would also provide input and suggestions for improving the mortgage brokering industry while supporting consumer protection.
The TAC will be an important part of FSRA’s stakeholder engagement process. It will assist FSRA in developing its policy and supervisory approaches for the mortgage brokering sector. The TAC will help FSRA stay current on developments in and issues facing the sector. This will enable stakeholders to provide timely advice and feedback.
TACs are different from Stakeholder Advisory Committees (SACs). Technical advisory groups and committees provide advice, input and feedback to FSRA management on matters related to the Rules of Practice and Procedure, Filing Requirements, Guidelines, operational policies and other matters. SACs serve as consultation bodies to the FSRA Board on FSRA's priorities and budget and other matters as the Board deems appropriate
Mandate
The TAC will be a standing forum for FSRA management and stakeholders to:
- Exchange information and views about the mortgage and real estate markets and any key developments;
- Discuss any emerging real estate finance issues, as well as innovation in the industry;
- Assess any impact to (a) consumer protection, (b) borrowers’ access to credit and (c) the business and operations of the industry;
- Provide input its annual supervision focus and business plan;
- Review current FSRA requirements and processes, and provide suggestions to modernize requirements and/or reduce burden; and
- Provide input to FSRA policy development, including guidance.
TAC membership
Nomination Process | To apply, send the following to MBConduct@fsrao.ca no later than October 29, 2020:
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|---|---|
Appointments and Term | FSRA will appoint members based on the skills and experience of the nominees, with an emphasis on ensuring adequate diversity in representation of different stakeholders noted below. Individual organizations cannot have more than one member on the TAC at a time. The first slate of members will have staggered terms of 1, 2 or 3 years. Subsequently, members will be appointed for 3-year terms. FSRA will post the names of TAC members on its website. |
Committee Size | FSRA is seeking 10 – 12 industry representatives to be members of the TAC. FSRA may choose to add or remove a member at any time. |
Member Representation | The TAC will have representation from stakeholders with different business models that are involved in different aspects of a mortgage transaction, including:
The TAC will also include at least:
|
Member Qualifications | Members of the TAC should be senior members of their respective organization or profession who have operational experience and can represent their organization or profession on relevant issues related to the mortgage or related industry. |
Member Responsibilities | FSRA expects TAC members to:
|
FSRA Members and Other Attendees | FSRA’s Head, Financial Institutions and Mortgage Brokerage Conduct or his/her designate will chair the TAC. FSRA’s CEO, other FSRA staff and Ministry of Finance staff may participate in the TAC as ex officio members or may attend meetings as needed based on issues discussed. The Chair may invite representatives from other government agencies as observers at meetings, with prior notification to TAC Members. |
TAC outcomes
- More proactive and proportional supervision to address misconduct causing consumer harm that arises from changing or emerging market conditions, business models or practices;
- More timely evolution of FSRA’s supervision and policy making to reduce unnecessary burden to the industry and to accommodate responsible innovation by the industry; and
- A regulatory framework for the mortgage brokering industry that appropriately balances consumer protection, industry efficiency and proportional supervision.
The TAC’s role is advisory in nature. FSRA will consider its advice and recommendations in supervision and policy development for the mortgage brokering sector. However, they may or may not result in action or policy change.
Confidentiality
The Freedom of Information and Protection of Privacy Act, R.S.O. 1990, c.F.31, as amended, will (unless otherwise specified by FSRA) apply to information provided by FSRA to the TAC and to material prepared by or for the TAC for presentation or delivery to FSRA.
TAC members may be required to sign a Non-Disclosure Agreement before assuming a position on the TAC or for specific meetings.
TAC members are permitted to obtain assistance from colleagues or collaborators. However, TAC members and those who assist them are required to maintain the confidentiality of all information provided to the TAC, or prepared by or for the TAC for presentation or delivery to FSRA, with the exception of information made public by FSRA, including any submissions by the TAC or its members as part of a public comment process sponsored by FSRA.
Meetings, agendas and deliverables
The TAC will meet three to four times each calendar year. The Chair may call additional meetings as required. The first meeting is expected to be held in November 2020.
FSRA staff will provide administrative support for the TAC, including meeting coordination, distribution of agendas, briefing materials, meeting summaries, and other related materials. FSRA will endeavour to provide the meeting agenda and materials to TAC members at least seven business days before each meeting.
Quorum for a meeting of the TAC will be more than 50 per cent of its members present either in person or via remote conferencing.
At each TAC meeting, FSRA will take minutes to record general discussion topics and formal recommendations. The minutes will be accepted and approved by the TAC at its next meeting or sooner by e-mail if requested. TAC minutes may also be posted on FSRA’s website. Periodically, the Chair may request an in camera session with TAC members to facilitate gathering of sensitive market intelligence to inform public policy. In these cases, minutes will not be recorded.
Initial Response Thread from FSRA, with Anoop Bungay Comments in return (ABC In Return™)
Initial Response
Hello,
Thank you for your interest in participating on the Technical Advisory Committee (TAC) for the Mortgage Brokering Sector. We have received your submission.
FSRA will select members based on their professional experience in mortgage brokering, mortgage investment and real estate financing, and their knowledge of relevant issues and senior level experience. FSRA will also consider the applicant’s submission regarding their interest and experience.
If you are selected for the TAC, you will be contacted directly regarding next steps.
Anoop Bungay Comments (ABC In Return™)
- conformity science "BlockChain"-based mortgage origination
- conformity science "BlockChain"-based mortgage underwriting
- conformity science "BlockChain"-based mortgage brokerage governance
- conformity science "BlockChain"-based mortgage brokerage management
- conformity science "BlockChain"-based mortgage brokerage operations
- conformity science "BlockChain"-based investor accountability
- conformity science "BlockChain"-based borrower accountability
- conformity science "BlockChain"-based regulatory accountability
- conformity science "BlockChain"-based errors and omissions insurance integration
- conformity science "BlockChain"-based sales, advertising, human resources
- conformity science "BlockChain"-based conformity and nonconformity corrective action; preventive action
- not a complete list
- MQCC™ CMHC BlockChain™ - Introductory Principles and Concepts; found at www.cmhcBlockChain.com
- MQCC™ SEC BlockChain™ - Introductory Principles and Concepts; found at www.secBlockChain.org
