The Globe and Mail reports in its Saturday, May 27, edition that the Financial Services Commission of Ontario says it disciplined two mortgage brokers who funnelled business to Home Capital Group (HCG), marking the first disclosure of action taken against dealers who submitted fraudulent loan applications to the lender. A Bloomberg dispatch to The Globe reports that FSCO conducted its own review into HCG in relation to it severing ties in 2015 with 45 brokers who used falsified client income on applications. FSCO found that Mortgage Alliance broker Gagandeep Duggal and Mortgage Architects agent Zaheer Mohammad were not complying with the rules. FSCO spokesman Malon Edwards says, "FSCO takes allegations of fraud very seriously, and is committed to protecting consumers in the mortgage brokering sector." He says most of the brokers and agents that were part of its HCG review continue to be licensed. The level of proof is higher for a regulator to discipline a broker than for a company to cut ties with mortgage dealers, he says. Mr. Duggal still works at Mortgage Alliance. Mortgage Architects terminated Mr. Mohammad after the FSCO released its findings last year.