Government is introducing a new act for mortgage brokers to protect home buyers.
Buying a home is probably the biggest investment a lot of people make. The new act is called the Mortgage Brokerages and Brokers Act, and has received second reading in the House of Assembly. Corporations, partnerships, and sole proprietorships registered as mortgage brokers will have to meet new requirements as a mortgage brokerage. Individuals working in a business registered as a mortgage broker will need to apply for a mortgage broker licence. The act will also focus on education, require mortgage brokerages have a trust account to cover errors and insurance, strengthen requirements for disclosures owed to borrowers, authorize the development of a Code of Conduct and penalties.
Government is set to deliver Budget 2026 next Wednesday
RCMP say threats against a school in the Codroy Valley were "not credible"
Security will play a big role when Corner Brook hosts the NL Summer Games this August
Trails Tales Tunes festival in Norris Point next month will feature a number of west coast musicians
Happy Volunteer Week to members of the Bay of Islands Volunteer Search and Rescue
