Your Bank Mortgage: Is It Fair And Does It Suit Your Needs? – The Globe and Mail

Your bank mortgage: Is it fair and does it suit your needs? – The Globe and Mail

With bank mortgage reps, there is no independent government watchdog that directly sets specific suitability and compensation disclosure rules, audits and monitors individual reps, and publicizes it when a bank rep breaks the rules. The banks themselves are responsible for “developing the policies and procedures to be followed” by their mortgage reps, says Rachel Swiednicki of the Canadian Bankers Association (CBA).