IN THE MATTER OF the Mortgage Brokerages, Lenders and Administrators Act, 2006,
S.O. 2006, c. 29, as amended (the “Act”), in particular sections 19 and 21;

AND IN THE MATTER OF My Mortgage Auction Corp. (“MMAC”).

ORDER REVOKING LICENCE

MMAC is licensed as a mortgage brokerage (licence #13040) under the Act.

On June 15, 2023, and by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Chief Executive Officer”), the Director, Litigation and Enforcement (the “Director”) issued a Notice of Proposal to revoke the mortgage brokerage licence issued to MMAC. On June 15, 2023, the Director also issued an Interim Order suspending the mortgage brokerage licence issued to MMAC.

The Notice of Proposal was delivered to MMAC on June 15, 2023. Section 21(3) of the Act provides that any person on whom a Notice of Proposal is delivered has fifteen (15) days after the Notice of Proposal is received to request a hearing by the Financial Services Tribunal (the “Tribunal”).

On July 4, 2023, the Registrar of the Tribunal confirmed that MMAC did not request a hearing by the Tribunal in accordance with section 21(3) of the Act. Therefore, pursuant to section 21(7) of the Act, the Director makes the following order.

ORDER

The mortgage brokerage licence (licence #13040) issued to My Mortgage Auction Corp. is hereby revoked, for the reasons set out in the Notice of Proposal.

DATED at Toronto, Ontario, July 10, 2023

Original signed by

Elissa Sinha
Director, Litigation and Enforcement

By delegated authority from the Chief Executive Officer

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