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Mortgage Bytes follow below...
Canada's FINTRAC rules have hit the mortgage broker industry like a piano falling from the sky. Almost three weeks after FINTRAC started in the mortgage industry, we're getting emails from brokers at top brokerages still confused about their obligations. This includes brokerages that tout their compliance records, which shall remain nameless. It's a good thing no one's getting audited for a while because industry failure rates might be north of 1 in 4.
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