Neha Joneja is a Mortgage Agent Level 2 licensed in Ontario by FSRA and works through Mortgage Assurance Inc., FSRA Brokerage Licence #13812, Independently Owned and Operated. This page explains her licence, how she is paid, conflicts of interest, advertising terms and how to make a complaint.
Who is the brokerage?
Neha Joneja carries on mortgage business through Mortgage Assurance Inc., FSRA Brokerage Licence #13812, Independently Owned and Operated. Mortgage Assurance Inc.’s head office is at 5225 Orbitor Dr #19, Mississauga, ON L4W 4Y8. Neha’s local office is at 7900 Hurontario St, Brampton, ON L6Y 0P6.
What licence does Neha hold?
Neha Joneja is a Mortgage Agent Level 2, licence #pending, licensed by the Financial Services Regulatory Authority of Ontario (FSRA). She is licensed in Ontario; she is happy to help clients relocating from anywhere in Canada who are buying or refinancing in Ontario.
What is the difference between Level 1 and Level 2 agents?
Ontario has two classes of mortgage agent licence. At a high level:
- Mortgage Agent Level 1 agents arrange mortgages mainly with financial institutions, such as banks, credit unions and trust companies.
- Mortgage Agent Level 2 agents have completed additional education and can also arrange mortgages with private and other non-institutional lenders, in addition to banks, credit unions and other institutional lenders. Check FSRA for the current definitions.
Both classes must work through a licensed brokerage. For the exact scope of each licence class, see FSRA’s mortgage brokering information.
How can you verify a licence?
You can confirm any individual or brokerage mortgage licence in Ontario using the public licence search on FSRA’s website. Search by the person’s name or the brokerage name, and check that the licence is active and linked to Mortgage Assurance Inc.
How is Neha paid?
On most standard residential mortgages, Neha and the brokerage are paid by the lender when the mortgage funds, and in most of those cases there is no separate fee to you for her service. Some files, such as private or certain alternative lender mortgages, may involve brokerage or lender fees paid by the borrower. Any fee you would pay is disclosed to you in writing before you commit, along with the cost of borrowing.
How are conflicts of interest handled?
Because lenders pay compensation, and amounts can differ between lenders and products, a conflict of interest can arise. Neha must deal with you honestly and in good faith, recommend only mortgages that are suitable for your needs and circumstances, and disclose in writing any material conflict, her relationship with the lender, and the compensation she and the brokerage receive, as required by Ontario law. If anything in a disclosure is unclear, ask before you sign.
What do the terms on this website mean?
All approvals are O.A.C. (on approved credit) and subject to lender criteria. Rates, programs and lender policies are subject to change without notice. Calculators and examples on this site are for illustration only and are not an offer to lend or a commitment. Speak with Neha for numbers based on your situation.
How do you make a complaint?
- Contact Neha first: call (647) 530-1682 or email jonejaneha@gmail.com. Most concerns can be resolved directly.
- Contact the brokerage: if you aren’t satisfied, write to the principal broker of Mortgage Assurance Inc., Atmaram Kubal, at the head office, 5225 Orbitor Dr #19, Mississauga, ON L4W 4Y8. Every Ontario brokerage must have a process for handling complaints.
- Contact FSRA: if the matter isn’t resolved, you can file a complaint with the regulator through FSRA’s website.