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“The market in the Lower Mainland is like a wildfire, because people are borrowing in a huge way,” said Singh. “And foreign buyers have impacted the market, because of the loopholes in the lending system. How can people buy a $2.5-million home when they have hardly any income?”

Singh said that Ficom is unfairly cracking down on him because of a half-dozen erroneous notice of tax assessment documents that he believes borrowers submitted to him, knowing they were false, when he was an inexperienced broker.

“I don’t want to hide anything because I’m not guilty. The training for mortgage brokers is almost zero,” Singh said. “It is the clients that are doing wrong, because they don’t have any fear. I think it is a big gang operating in the market.”

Singh believes lenders are often complicit in accepting fraudulent loan applications.

“They have well-trained staff. How can they miss all these cases?”

In another case, involving tax documents, an agreed statement of facts in a 2016 Ficom consent order states that while working for Dominion Lending Centres Gold Financial Services, Jorawar Gosal “altered” borrowers’ Canada Revenue Agency documents in order to inflate incomes for mortgage applications. Gosal was reached at the phone number listed in an online ad that says he is a real estate agent in Surrey. In a brief call, Gosal said that he is not a real estate agent, and that he has no comment on Ficom’s consent order.

Details of a Ficom cease and desist order, which Ficom filings say was issued without a hearing due to the seriousness of the allegations, indicate Ficom staff investigated Rani Kaur Gill, an unregistered broker. Calls by Postmedia to Gill’s listed number have not been returned.