Better late than never

Better late than never

June 27, 2017

27 June, 2017

A mortgage broker sought our help with a delay in renewing his licence through FSCO. His brokerage firm had missed the deadline to pay the $800 renewal fee to FSCO, which in turn failed to process the renewal before his licence expired.

A mortgage broker sought our help with a delay in renewing his licence through FSCO. His brokerage firm had missed the deadline to pay the $800 renewal fee to FSCO, which in turn failed to process the renewal before his licence expired. The delay meant he would have to retake a course for his brokerage licence, which would take another month. In the meantime, he requested a refund of the $800 from FSCO but got no response. Ombudsman staff also received no response, until we escalated the matter to senior officials. At that point, FSCO verified that it had received the man’s renewal payment and agreed to issue his renewed licence immediately.