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Quality Management-in-Finance.

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




Team;

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.  "BoingBoing.net".
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 www.mortgagequote.ca 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 MortgageQuote.ca to learn more.
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