Ontario regulator warns borrowers about GTA mortgage lender

Ontario’s mortgage broker licensing agency is warning consumers not to do business with lender/realtor Sam Kamra and urging victims of suspected fraud to report to police. The notice signals credible fraud risk to consumers rather than a broader market development. Near-term impact is likely limited to affected individuals and any parties exposed to Kamra’s activities.

Analysis

Ontario’s mortgage broker licensing agency is warning consumers not to do business with lender/realtor Sam Kamra and urging victims of suspected fraud to report to police. The notice signals credible fraud risk to consumers rather than a broader market development. Near-term impact is likely limited to affected individuals and any parties exposed to Kamra’s activities.