SYS-CON MEDIA Authors: Kevin Benedict, Gilad Parann-Nissany, Michael Bushong, Eric Brown

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Warning Notice - Unlicensed Mortgage Brokering Activity

Joseph Tukacs and JCT Capitol Investment Group are not licensed to do mortgage brokering business in Ontario

TORONTO, April 1, 2014 ​/CNW/ - The Financial Services Commission of Ontario (FSCO) is warning consumers that an individual called Joseph Tukacs and a company called JCT Capitol Investment Group are not licensed to do mortgage brokering business in Ontario.

FSCO has been notified that the company is soliciting lenders and borrowers on its website, jctcapitol.com. Mr. Tukacs has also solicited consumers through his LinkedIn page. The following phone number is associated with the unlicensed activity: 289-237-9006.

Consumers should exercise caution if they are contacted by anyone matching this description.

If consumers arrange a mortgage from a mortgage brokerage, broker or agent that is not licensed in the province, they are not protected under the Mortgage Brokerages, Lenders and Administrators Act, 2006, which holds Ontario's mortgage brokerages, administrators, brokers and agents to specific standards.

FSCO's website contains a list of all mortgage brokerages, administrators, brokers and agents licensed to do business in Ontario as well as tips on shopping around for a mortgage.

A licensed Ontario mortgage brokerage, administrator, broker or agent can provide information and advice on the risks involved in borrowing, lending or investing for different mortgage products. 

ADDITIONAL INFORMATION

What to Do If You Think You are a Victim of a Scam or Fraud

SOURCE Financial Services Commission of Ontario

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