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Canadian mortgage brokers launch education approach.

M2 EQUITYBITES-January 28, 2014--Canadian mortgage brokers launch education approach

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28 January 2014 -- Toronto-based trade association The Mortgage Broker Regulators' Council of Canada (MBRCC) said it is helping consumers across the country gain a better understanding of the risks and responsibilities related to obtaining a residential mortgage.

The group said it has developed a pamphlet, as well as educational content for their website, to ensure that Canadians in all provinces have access to practical information and important considerations about mortgages.

Know Your Mortgage Risks & Responsibilities, the materials developed by the MBRCC, are part of their efforts to improve mortgage consumer education.

The information was developed for use in all MBRCC member provinces. The educational materials and the types of information borrowers received on mortgage risks and responsibilities vary from province to province.

MBRCC said it developed the pamphlet as a disclosure tool for mortgage brokers to provide to their clients during their initial discussions.

The MBRCC is an inter-jurisdictional association of mortgage broker regulators that seeks to improve and promote harmonisation of mortgage broker regulatory practices to serve the public interest.

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