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MortgageQuote Canada Corp. ( The World's Safest Banking & Finance Network (

Quality Management-in-Finance.

Wednesday, 14 September 2016

MortgageQuote Canada Corp.: ISO 9001:2015 or the Wells Fargo Online Financial Services Group & Home Capital Group: Balanced Scorecard Approach? What does over 10 Years of History Tell Us?

Conclusion: There is no contest. One is not the same as the other. And ISO 9001:2015 wins.
The shareholders of Wells Fargo and it's Board should consider licensing MortgageQuote's certifiable, regulatory compliant, integrated Quality Management System technology, immediately. It will be long term money well spent.

Some Canadian Mortgage Companies or Financial Services rely on the Balanced Scorecard at the Governance level; for example: Home Capital Group, which in 2015, had an anonymous "whistleblower" tip lead to the exposure of a massive 45 Licensed mortgage broker fraud related to $960M of mortgage originations.

 If it happens in two places, it happens in three places.

The Balanced Scorecard concept is a ostensibly about "measurement". If the Balanced Scorecard can not even allow for the measurement of fraud, regulatory noncompliance or nonconformity in finance - it is proven to be useless for at least some finance companies

For the finance sector, the Balance Scorecard appears to function as merely an academic construct born out of a thesis, supported by a 12 month study (Kaplan et. al. 1992). Deemed by some individual or consultant as appropriate for use in the very serious business of finance. Any modifications to the original model clearly did not work for Wells Fargo or Home Capital Group.

How do you not see 2M fake accounts? Or 45 fraudulent LICENSED mortgage brokers. What good is the measurement system...why would you need to wait for the selfless, charitable generosity of a whistleblower.....and for that matter...what good is licensing?

Company 1 - ISO 9000 Approach:

MortgageQuote Canada Corp.: ISO 9000 Family of Quality Management Standards


The MortgageQuote Canada Corp. (MortgageQuote) ISO 9001:2015 certified, integrated Quality Management System is designed to prevent statutory and regulatory nonconformity events.

2016 Outcome

After 10 years of compliance and 8 years of certification to an ISO 9001 Quality Management System, MortgageQuote is operating at 6 six sigma. Less than 1 defects (nonconformity) occurring out of a million opportunities.

Company 2 - Balanced Scorecard Approach

Wells Fargo and Balanced Scorecard


Source: Harvard (Case Study: Wells Fargo Online Financial Services (A) PUBLICATION DATE: June 12, 1998 PRODUCT #: 198146-PDF-ENG)

Wells Fargo, the industry leader in electronic banking, has implemented a Balanced Scorecard in its online financial services group (OFS) to track and measure performance. The OFS group develops and supports services that allow existing and future banking customers to perform transactions via the Internet. The new division faces rapid change and must invest heavily in new technology and in the development of innovative products and services. OFS was finding it difficult to balance the need for a clearly articulated strategy and measurable objectives with the flexibility required in its dynamic environment. Wells Fargo had a culture that embraced financial metrics. Yet OFS management believed that its business could not be measured and evaluated on the basis of financial metrics alone. For example, the group was not yet profitable, yet it provided a critical component to the bank's long-term strategy. The OFS group believed that the Balanced Scorecard would allow them to develop a set of integrated, multidimensional measures to assess performance against its goals and to communicate and update its strategy in a rapidly changing environment.

2016 Outcome

Wells Fargo Fined $185 Million for Fraudulently Opening Accounts. 

They created fake email accounts to sign up customers for online banking services. (The OFS - Online Financial Services Group). Source states: 5,300 Wells Fargo employees created 2 million phony bank accounts and racked up huge fees, raking in commissions from their employer for being such great salespeople for the bank's services; meanwhile, the fees associated with the 2 million fake accounts created the appearance of much greater earnings for the bank, which it trumpeted to its investors.

Wells Fargo says that it has been rooting out employees who ran this con for the past two years, having caught 5,300 of them so far (the bank employs 265,000 people). The fake accounts -- savings, checking, credit/debit cards -- were opened in the names of existing Wells Fargo customers, who had their accounts raided to create balances in the new accounts, and were then hit with fees that cleaned them out.

[Wells Fargo] bank is paying a $185M fine and reimbursing known victims to the tune of $5M.

Friday, 9 September 2016

Investors: Invest in Financial Sector Companies that have CERTIFIABLE Quality Management Systems that Prevent Home Capital Group and Wells Fargo Bank Situations


Do not invest in financial sector companies unless their Quality Management Systems are certifiable to function in accordance with Statutory and Regulatory requirements

Tell the finance sector company that you invest into (bank, lender, brokerage firm, wealth management advisor, discretionary funds manager), to license MortgageQuote Canada Corp.'s regulatory compliant, internationally accepted, ISO 9001:2015 certifiable Operations and Quality Management Systems technology for finance sector institutions and corporations.

Do not suffer the same fate as investor's who invested million's of dollars in Home Capital Group Inc. (whose shares have not recovered from a high of C$39.60 down to approximately C$28.00 - ove the course of the last 18 months) or Wells Fargo Bank (Whose have not recovered from a high of  USD$57.94 down to USD$48.72 over the course of the last 18 months).

Don't rely on "trumped up statements in annual reports to make you feel happy and then find out the company just got fined $160,000,000.00 USD for poor governance".

Welcome to the Future of Finance™

MortgageQuote Canada Corp.

Financial Regulatory Compliance & Operations Technology - Mortgages & Investments

MortgageQuote Canada Corp. (MQCC) is the world leader in providing real-time accountable, OSFI- (Canada), OCC- (USA) and Other Regulatory certifiably compliant, origination, operational processing, audit & reporting technology to the finance sector. In 2006, we developed what is today, the world's first bespoke ISO 9001:2015 certified, litigation tested, integrated Quality Management System designed to prevent regulatory non-conformance events for the scope of: "provision of mortgage banking (lending in Canada) and mortgage brokerage services". Our system creates certifiable levels of efficiency, quality, trust & confidence for the three critical risk management functions of a regulated financial sector company: Business (Operations) Level, Enterprise (Compliance) Level and Governance (Audit) Level. 

THIS is what we use to lend money, invest money and manage money. What does your bank or financial company use? 

What Problem does MortgageQuote Solve? See below for this latest edition of PROBLEMS IN FINANCIAL SERVICES REGULATORY COMPLIANCE:

Wells Fargo - Major Investor: Warren Buffet

  • 5,300 Wells Fargo employees created 2 million phony bank accounts and racked up huge fees, raking in commissions from their employer for being such great salespeople for the bank's services; meanwhile, the fees associated with the 2 million fake accounts created the appearance of much greater earnings for the bank, which it trumpeted to its investors.  "".
Whatever financial quality management and operating systems that Wells Fargo had running, they were clearly poor and a waste of Warren Buffet's and his fellow shareholder's momey. The Wells Fargo Directors must also be wondering.

The same type of problem (this time with mortgages, in terms of fraud and document verification and origination) happened to HomeEquity Bank

Home Capital Group Inc. - Long Time Investor: Mawer Management

Home Capital Group Inc. began suspending mortgage brokers after its board of directors received a letter from an anonymous whistle-blower last fall pointing it to problems with some of its mortgages, company officials confirmed Thursday.

The company, which operates as one of Canada’s largest alternative mortgage lenders through its subsidiary, Home Trust, revealed it hired an external investigator and launched a probe into its mortgages, finding evidence that some borrowers had submitted fake employment letters. In many cases, the borrowers actually worked at the companies listed in their mortgage applications, but claimed they made more money than they actually did, which allowed them to qualify for larger mortgages at better interest rates.
Home Capital said it ultimately cut ties with 45 brokers, the majority of whom worked for just two brokerages. In total, the brokers contributed more than $960-million to the company’s mortgage originations last year, with the bulk of the business in the company’s portfolio of insured mortgages.
Jeff Mo, portfolio manager at Mawer Investment Management Ltd., a long-time Home Capital investor. “Is management’s credibility damaged because of this? I would say slightly.... "
Source: The Globe and Mail
The price of Home Capital Group Inc. has gone down significantly over the past year.
Whatever financial quality management and operating systems that Home Capital Group had running, they were clearly insufficient for their investors and shareholder's money.  
If you invest in a financial company, learn from us. Visit to learn more.

Indeed, we, at MortgageQuote wonder: "who is the next Canadian version of Wells Fargo"?

Summary of Article: 

Ask these three questions before you invest in a Financial Sector Company:

1) Is your end-to-end, total business operations certified to ISO 9001:2015 standards? If not, why not?
2) Are you able to provide real-time accountability of every transaction, at every stage, from origination to funding to servicing?
3) Is a 3rd party auditor permitted to audit your business processes, annually to ensure that you are working in accordance with statutory, regulatory and process requirements?

If the answer is NO to any one of three, then DO NOT INVEST unless you ask them more questions about how they operate and they answer same, to your satisfaction. Contact to learn more.