IN THE MATTER OF the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c. 29, as amended (the “Act”), in particular sections 16 and 21;
AND IN THE MATTER OF Karen Graham.
Karen Graham (“Graham”) was licensed as a Mortgage Agent (licence# M18001531) under the Act. On July 24, 2023, Graham submitted an application to renew her mortgage agent licence.
On November 21, 2023, 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 refuse to renew Graham’s mortgage agent licence.
A Request for Hearing (Form 1), dated December 18, 2023 was delivered to the Financial Services Tribunal (the “Tribunal”) in accordance with section 21(3) of the Act respecting the Notice of Proposal.
The Tribunal held an oral hearing on June 18, 2024.
The Tribunal, in its Reasons for Decision dated July 23, 2024 (the “Decision”), ordered the Chief Executive Officer of FSRA to carry out the Notice of Proposal to refuse Graham’s July 2023 mortgage agent licence application.
The application to renew the mortgage agent licence (licence # M18001531) issued to Karen Graham is hereby refused, for the reasons set out in the Decision.
DATED at Toronto, Ontario, August 27, 2024.
Original signed by
Elissa Sinha
Director, Legal and Enforcement
By delegated authority from the Chief Executive Officer
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