Real estate agent submitted ‘falsified’ documents: BCFSA [Video]

The agency that regulates real estate agents in B.C. has cancelled the licences of a man and his personal real estate corporation after he admitted to using an unregistered mortgage broker and submitting “falsified income and savings information” on two mortgage applications.

Jin Luo admitted to the misconduct in a consent order proposal submitted to the B.C. Financial Services Authority. The BCFSA accepted the proposal, a redacted version of which was published on its website this week. 

Luo met the unregistered mortgage broker – referred to throughout the document as “Individual 1” – at an open house. He did not take any steps to verify Individual 1’s registration, according to the consent order.

“J. Luo did not know Individual 1’s last name, knowing him only ever as ‘Jay,'” the document reads.

According to the document, Luo paid Individual 1 a total of $25,000 for assistance on two mortgage applications related to Luo’s personal properties.

Both applications …