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MQCC PrivateLenderCheck™

Canadian and International Customers





In accordance with multiple jurisdictions and regulatory requirements, let PrivateLenderCheck™ help with your peer-to-peer (P2P) and private investor-lender authentication and compliance requirements.

Fraudsters can sometimes solicit mortgage applications from trusting, unsuspecting mortgage applicants and well-meaning but unqualified mortgage brokers. To help prevent this sort of abuse, your mortgage broker should be participating in PRIVATELENDER.org, which gives real estate owners more control over what their broker does with private financial and personal information, when dealing with legitimate peer-to-peer (P2P) and private lenders.

Who we are:

PrivateLenderCheck is a division of PEMI® the Private Equity Mortgage Institute.

Un-managed Private Lending is Risky for Borrowers, Investor-Lenders & Brokers

Yes, Private Lending can be VERY RISKY! PrivateLender.org helps make it safe for you!

Avoid the incompetence, misrepresentation and the fraud - work with P2PLTM member of privatelender.org

What is a private lender? Any lender that is NOT: a bank, treasury branch, credit union, loan corporation, trust corporation,

insurance company nor any person engaged in the business of making loans. A private lender is a private individual who chooses to invests his or her accumulated wealth by loaning it to other persons on an occasional basis, either personally or through a privately held corporation.

Accreditation does not mean that the private lender's products or services have been endorsed by PrivateLender.org nor does it mean that PrivateLender.org endorses the products. Investors who seek to lend money privately are not obligated to seek accreditation, nor may they choose to seek accreditation.

Only Accredited Class® Private Equity Mortgage (PEMTM) Investor-Lender (APLTM) are proven to provide fully compliant, non-bank debt solutions with a focus on quality resulting in the higher levels of borrower satisfaction than others. Look for the APL designation whenever you are seeking non-institutional credit. Demand it.

Private Lender Mortgage Transaction Audit Services

Did your "private lender" convince you to get a mortgage or a so-called "private mortgage" and your client is not happy with it?

Were you aware or made aware of what you were getting yourself or your client into?

Are you concerned that your private lender was not licensed or, was not working in accordance to the regulatory requirements of their license, which caused your client to lose money?

Do a Private Lender Transaction Check!

PrivateLenderCheck is an initiative of MortgageQuote Canada Corp. If you have an existing mortgage and feel that you might be subject to loss caused by a private lender who did not act in their role with the requirements of their regulatory jurisdiction, then contact us.

  • For a fee, MortgageBrokerCheck will review and audit your mortgage transaction file and provide you with a report with information regarding the requirements of the mortgage licensing jurisdiction which governs your mortgage

    transaction and how your private lender can provide objective evidence that they fulfilled or did not fulfill their regulatory legal obligations to you.


This is great for Mortgage Brokers because even if they originated the transaction, they can show professionalism and ethics by helping their customer have the private lender transaction file audited on a 'without prejudice basis', in order to prevent or mitigate a claim of negiligence pursuant to errors and omissions guidelines.

Additional Resources

BORROWERS & LICENSED MORTGAGE BROKERS

Are you a licensed mortgage broker and want to connect with an Accredited Class® Private Equity Mortgage (PEM) Investor-Lender for one of your clients? Click Here

Are you looking to borrow money, secured by real estate? Find an Accredited Class® Private Equity Mortgage (PEM) Investor-Lender through our network of APL Authorized Agents, to help you now! Click Here




  • Did your mortgage broker convince you to get a mortgage or a so-called "private mortgage" and are not happy with it?


  • PrivateLender.org is home to Canada's first and only certified regulatory compliant private equity mortgage investor-lender network, consisting of accredited, non-accredited and Accredited Class® private investors; namely, private individuals and private corporations (non-institutional and non-regulated), who are able to invest private equity funds into real estate on an "unrestricted basis", primarily in the form of mortgage security.

Watch out for Predator Lenders

Be Wary - Be WarnedTM

What can a Predator Lender do to you?

As a consumer, you don't want to be led the wrong way by the wrong people. It wastes your valuable time and often your money. Suppose a person approaches you and says that they are a "private lender". How do you know that for sure? What if they are people "pretending" to be private lender so that they can obtain your personal private credit information in order to do identity fraud....or worse? The internet is riddled with examples of this type of criminal behavior.

Some fraudsters pass themselves off as private lenders in order to obtain upfront fees from unsuspecting borrowers, or they want to "phish" for credit information so that they can sell the information on the black market or perpetrate identity theft. As a consumer, you could be at great risk.

As a broker, your reputation is at stake and you open yourself to liability and lawsuits. 

PrivateLender.org helps you by identifying and certifying private lenders for veracity, efficacy, experience and ability.

Help us compile a list of Predator Lenders. Let us know about a situation that you or people whom you know, have experienced.


Money Loan Predators & Borrower Advisory


PrivateLender.org enables members of the general public to report predatory lending activity.

What are Money Loan PredatorsTM?

Money Loan PredatorsTM are people or companies in the financial services and credit industry whose goal is to deprive you of your money. 

Money Loan PredatorsTM come in different forms, you have lenders, bankers and brokers. There are other types too, for example: underwriters, lawyers, accountants, advisors, consultants and so on. 

At privatelender.org, our focus is on three types of  Money Loan PredatorsTM :Lenders, Brokers and Bankers

Report-A-PredatorTM

Tell us about your situation and help others from falling into the same situation.

 

Open Google Spreadsheet Form

What is predatory activity in lending, brokering and banking?

This happens when unscrupulous lenders, brokers or bankers work, either together or independently, to put you into compromising financial situations. 

GOOD VS. BAD

The good:

Don' t confuse good lenders, brokers and bankers from the bad ones. The good ones stick the rules and if mistakes are made which might negatively affect you at a financial level, you can sue the lender, broker or banker in an effort to remedy your situation. Often, lenders, brokers and bankers have something called: Errors & Omissions Insurance (EOE), which protects them in the event of lawsuits brought about due to their negligence. When you start a lawsuit, once the EOE insurers lawyers get involved and if it is determined that the lender, broker or banker truly made a mistake (either forgetting to do somthing or doing something wrong), then the EOE will settle the lawsuit and pay you money. 

The bad:

The bad lenders, brokers or bankers are tricky. Some are so smart that they do something wrong or purposefully not do something that is required of them, such that if you get financially hurt, they expect at least one of the following outcomes:

1 - you will take your losses, suffer and move on with life. Not telling anyone because:

a) you don't know that you have options (ie: sue under an EOE policy)

b) you are embarassed to let any one know that you are caught up in a bad financial mess

2 - you report the lender, broker or banker to the regulatory body and sue under the EOE, in which case the persons or company will simply claim that "they made a mistake" and expect the insurance company to pay you any damages.

The problem with EOE is that they only cover claims when a good lender, broker or banker make genuine mistakes. If the EOE insurer determines that the lender, broker or banker committed real fraud, then the policy might not cover the situation, in which case, you will need to sue the party and hope they have sufficient assets in order to pay for their actions.

 


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