Shawn Stillman Quoted on Mortgage Broker News – Toronto real estate ripe for laundering money

https://www.mortgagebrokernews.ca/news/toronto-real-estate-ripe-for-laundering-money-255966.aspx

In the broker channel, Shawn Stillman, says there are more measures in place to parry suspicious activity, but, like Smith, he noted A lenders are more susceptible fraudulent activity.

 “Most of our lenders don’t allow us to do mortgages through corporate entities and it has to be held in a personal name, so for the most part we don’t run into issues with corporations,” said the principal broker of Mortgage Outlet. “The major banks, through their branch network, will do mortgages in corporate names and they probably see a lot more instances of suspicious activity than we do in the broker channel.”