A stark warning for the mortgage industry has emerged from British Columbia, where a broker has been permanently barred and fined $80,000 following an investigation into systemic fraud. Amandeep Duggal, operator of Duggal Mortgages, admitted to submitting eight mortgage applications containing falsified income documentation, including fabricated T4s and Notices of Assessment. Despite borrowers sometimes providing accurate data, the broker submitted inflated figures to lenders without verification, collecting over $56,000 in commissions.
This case highlights the critical importance of integrity in the mortgage process, particularly as regulators shift toward stricter enforcement. With Ontario’s Financial Services Regulatory Authority (FSRA) also actively pursuing enforcement against off-book dealings, GTA borrowers and industry professionals should take note of the tightening regulatory landscape. For a deeper look at the investigation and the upcoming changes to mortgage standards, read the full report at [MPA Magazine](https://www.mpamag.com/ca/mortgage-industry/industry-trends/bc-broker-fined-80000-and-barred-for-falsified-applications/582037).
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