TORONTO, Feb. 2, 2022 /CNW/ - The Financial Services Regulatory Authority of Ontario (FSRA) is warning consumers to avoid using Aproov Mortgage as it is not licensed to conduct mortgage business in Ontario.
Aproov Mortgage is operating and advertising through its website https://aproov.ca. It gathers consumers' personal details through mortgage applications on its website and claims to forward them to mortgage specialists. Only a licensed brokerage or someone working through a licensed brokerage can do assessments of consumers. There is no evidence that Aproov Mortgage is affiliated with a licensed brokerage.
FSRA encourages consumers to exercise caution if they are contacted by the company or anyone using the above website and claiming to represent Aproov Mortgage.
FSRA licenses mortgage brokerages, brokers, and agents to safeguard public confidence and trust in Ontario's financial services. If consumers obtain a mortgage through *certain individuals or companies not licensed by FSRA, they are not protected under the Mortgage Brokerages, Lenders and Administrators Act, 2006 and its regulations that govern Ontario's licensed mortgage brokerages, brokers and agents.
Consumers are encouraged to check the public registry to ensure they are working with a licensed mortgage broker, agent, brokerage, or administrator.
FSRA is continuing to work with those it regulates to ensure financial safety, fairness and choice for consumers and members. Learn more www.fsrao.ca.
*Certain financial institutions and their mortgage professionals, such as banks, may be exempt from obtaining a mortgage broker or agent licence.
SOURCE Financial Services Regulatory Authority of Ontario
For further information: For public inquiries, please email [email protected]; For media inquiries: Russ Courtney, Senior Media Relations and Digital Officer, Financial Services Regulatory Authority, C: 437-225-8551, Email: [email protected]