The brokerage has an established process for resolving complaints and has a designated person who is authorized to receive and resolve complaints (O. Reg. 188/08 s.41 (1) & (2))

The brokerage keeps record of all complaints received along with responses to the complainants in the following format – Electronic

 

No matter how hard we try to do the best we can for our clients or investor, there will always be those occasional situations where clients or investor are simply not happy with their experience of acquiring a mortgage through Real Mortgage Associate. This policy exists for two reasons:

 

·         To ensure we meet the needs and expectations of our clients or investor when responding to their concerns

·         To comply with the MBLAA (2006) and Regulations (188/08 s.41 (1) & (2))

 

Definition of Complaint

 

It is important to define what we mean by “Complaint” in this policy. During the course of interactions with Clients (defined as either an Investor or Borrower), Brokers and Agents should strive to communicate effectively at all times, and ensure proper notes are taken regarding conversations with clients to avoid confusion at a later date. Issues will arise, and most of these will usually be dealt with during your interactions with the client directly. If, however, a situation arises where the client remains unhappy, and states that they wish to lodge a complaint (or “speak to your boss/manager/broker” etc.) then the following policy applies.

 

Complaints Officer

 

The Principal Broker of the firm is the designated Complaints Officer. Any and all complaints should be brought to the immediate attention of the Complaints Officer.

 

Registration of Complaint

 

Upon notification by the client that they wish to file a complaint, you must escalate the situation to the Complaints Officer. Should the client wish to deal directly with the Complaints Officer, provide their contact information to the Complaints Officer or, if the client insists, provide the Client with the name of the Complaints Officer and provide the following information to the Client:

 

Telephone number:

Email address:

Mailing address:

 

 

Processing of Complaint

 

Upon receipt of a complaint from a Client, the Complaints Officer will take immediate action to investigate. Should the complaint relate to a completed file, the Complaints Officer will pull existing documentation on file with the company. The Complaints Officer will review the documentation, and then forward the complaint to the specific agent or broker for comment. Should the complaint relate to a file in progress, the Complaints Officer will immediately contact the agent or broker responsible for the file and forward the complaint for comments.

 

Should the agent or broker responsible for the file not be forthcoming in dealing with the matter, the Complaints Officer will take all reasonable steps to deal with the matter.

 

Should the complaint relate to an issue relating to the Mortgage Brokerage Lenders and Administrators Act, all efforts will be made to determine if the transaction was in compliance with the legislation. If a breach of the legislation is discovered, remedial Action will be taken immediately.

 

Should the complaint be of such a nature that a claim against Real Mortgage Associates Inc.’s errors and omissions insurance policy is possible, the Complaints Officer will notify the insurer of the potential claim.

 

 

Response Process – Verbal Complaints

 

The Complaints Officer will respond to Clients verbally regarding any complaint within 48 hours of receipt. If the Client remains agreeable to this process, then the Complaints Officer will continue to report to the Clients as is reasonable given the circumstances of the complaint.

 

Should the complaint still remain unresolved in the mind of the Client, the Complaints Officer will advise the Client to document their complaint and forward it directly to the Complaints Officer in writing, via letter mail or email.

 

 

Response Process – Written Complaints

 

The Complaints Officer will respond to Clients verbally regarding any complaint within 48 hours of receipt, and will follow up with a written response as quickly as reasonable under the circumstances (and allowing for proper investigation).

 

Any written response must also tell the Client who made the complaint that, if they are not satisfied with the proposed resolution and if the Client believes that the complaint relates to a contravention of the Act or a regulation, the Client may refer the complaint to the Superintendent of the Financial Services Commission of Ontario. A copy of the official FSCO Mortgage Business Activity Complaint Form must also be included with any written response.

 

At no time will any Mortgage Broker or Agent respond directly to a written complaint. Written complaints must be forwarded immediately to the Complaints Officer.   All responses to written complaints must come directly from the Complaints Officer.

 

 

Documentation Requirements

 

All documentation relating to any complaint must be retained in accordance with proper file handling requirements and within the original mortgage transaction file as per the policies in this manual.

 

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