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The Manitoba Securities Commission administers The Mortgage Brokers Act. This act seeks to protect mortgage investors and borrowers by regulating mortgage brokers and mortgage salespersons as defined by the Act. There are two categories of mortgage broker registration: mortgage brokers and restricted mortgage brokers.
- How to Register
Explore this section to learn about the requirements for...
- Property Manager
Property Manager. Individuals and companies engaging in...
- Real Estate
The real estate division registers real estate brokers,...
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Search for brokers and individuals licensed in Manitoba....
- How to Register
Apr 26, 2011 · Deposit to trust account. 10 (1) A mortgage broker must ensure that all trust money received by the broker, or by any of the broker's authorized officials or salespersons, must be deposited in the broker's trust account not later than the next banking day after the date of receipt. Dépôt au compte en fiducie.
The Mortgage Brokers Act is now Manitoba law and regulates the activities of mortgage brokers. In order to be a mortgage broker, the business or individual arranging your mortgage must be registered with The Manitoba Securities Commission. Registration ensures that the person you are dealing with has the proper training and resources necessary ...
19 (1) Every withdrawal from a mortgage broker's trust account must be made. (a) by cheque; or. (b) by an electronic transfer of funds that provides a record of the amount withdrawn, the date of the withdrawal and information sufficient to identify the account or person to whom the money was paid. 19 (2) Each.
Dec 31, 2021 · 57. The following Acts and parts of Acts are repealed: (a) The Mortgage Brokers and Mortgage Dealers Act, being chapter 26 of the Statutes of Manitoba, 1971. (b) An Act to amend The Mortgage Brokers and Mortgage Dealers Act, being chapter 18 of the Statutes of Manitoba, 1973.
Real Estate. As the independent office that protects home buyers and sellers by promoting fair and efficient business practices, the Real Estate Division registers real estate brokerages, property management brokerages, salespersons, representatives, and mortgage brokers and sets the registration and business practice requirements for all registrants in the province of Manitoba.
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21 (1) Except as permitted by this Act or the regulations, a registered mortgage broker shall not. (a) accept deposits from the "public" in Manitoba, as the word is defined, for the purposes of the Canada Deposit Insurance Corporation Act (Canada); (b) receive deposits of money repayable upon demand or after notice;