FSRA takes enforcement action against 2748294 Ontario Inc. o/a Flex Home Loans and Michael Yosher

TORONTO, March 31, 2026 /CNW/ - The Financial Services Regulatory Authority of Ontario, FSRA, has imposed an Order to revoke the mortgage administrator license issued to 2748204 Ontario Inc. o/a Flex Home Loans ("Flex Home Loans"), effective 90 days after the issuance of a compliance order.

FSRA has also imposed an administrative penalty in the total amount of $8,000 against Michael Yosher ("Yosher").

Flex Home Loans carried on business as a mortgage lender in Ontario while not being licensed or exempted from the requirement of being licensed, contrary to section 4(2) of Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c. 29, as amended (the Act). Flex Home Loans' conduct affords reasonable grounds to believe that it is not suitable to be licensed under the Act. Yosher made false declarations in two licence renewal applications, contrary to sections 45(1) and 45(2) of the Act.

FSRA issued these orders as a result of a settlement with Flex Home Loans and Yosher.

Learn more:

Access our enforcement database to see how FSRA is working to protect consumers through its monitoring and enforcement activities. 

For media inquiries:

Lilian Kim 
Sr. Media Relations Officer
Financial Services Regulatory Authority
[phone]
Email: [email protected]

SOURCE Financial Services Regulatory Authority of Ontario