Suitability Is About Judgement

Posted on May 14, 2026May 14, 2026 by Andy MacDonald

In a recent post / article I talked about the failure of many mortgage brokers and agents to comply with Section 24 and 25 of Ontario Regulation 188/08. These sections deal with disclosure and suitability. At a basic level, disclosure is about information, while suitability is about judgement. The incompetent mortgage brokers and mortgage agents of the world often fail at both levels, but I find that even the fully competent ones get trapped in the mindset that they need to get the ...

Suitability & Disclosure… the low hanging fruit!

Posted on April 29, 2026April 29, 2026 by Andy MacDonald

Until recently, the mortgage brokerage sector has largely been ignored by regulators and litigators. Everyone was making money in mortgages and even poor advice was profitable. No one complains when times are good but now that the market has turned, we are seeing just how bad the advice was that many borrowers and investors received from their mortgage broker or agent. As Warren Buffet famously surmised, “Only when the tide goes out do you discover who’s been swimming naked”. Let’s just s...

Testimonial: Scott McMahon

Posted on March 20, 2026March 20, 2026 by admin

Andy provided a thoughtful and technically sound opinion in a litigation matter that I hired him for involving mortgage financing and closing risk. His analysis was thorough and credible, and it underscored issues that tend to be overlooked in proceedings of this nature. His report was an important and effective part of our advocacy. I would readily work with him again. Scott McMahonO'Flynn Weese LLP | Barristers & Solicitors

Testimonial: Joseph Juda

Posted on February 4, 2026February 4, 2026 by admin

Andy is knowledgeable, patient, and generous with his time when discussing mortgage related issues. I’ve been impressed by his depth of knowledge and his willingness to thoughtfully walk through questions, making him a trusted resource for lawyers. Joseph Juda B.A. (Hons.) J.D.Klein & Schonblum AssociatesBarristers and Solicitors

“It Wasn’t Me”

Posted on January 16, 2026January 16, 2026 by Andy MacDonald

In the last year I’ve started doing a lot of work as an Expert Witness for litigation involving mortgages, mortgage brokers, or mortgage agents in Ontario. A common theme I’ve heard a lot of defendants argue is that they weren’t acting as a mortgage broker or agent for the transaction in question. Someone else was arranging the mortgage. Maybe it was a bank, another financial institution, or another mortgage broker. The defendants will argue they were just on the periphery helping th...

Testimonial: Mike Holder

Posted on January 14, 2026January 14, 2026 by admin

I recently renewed a mortgage this past December and was weighing whether to go fixed or variable. Andy was quite responsive and provided me with additional insights that I found helpful. He went over and above what I was expecting from him. Mike Holder, Mississauga

Core Memories

Posted on January 8, 2026January 8, 2026 by Andy MacDonald

The holidays are a great time to spend with family and reflect on what is important in life. This year my now 23-year-old daughter reminded me of what she described as one of her “core memories” growing up. The year was 2013 and she was doing competitive figure skating for the first time. The Port Credit club was hosting a competition and one of the options was a “Family Ice Dance”. This required a child and parent to perform the Canasta Tango on ice. Having played hockey all my life, I was ...

Who are you relying on for advice?

Posted on December 5, 2025December 5, 2025 by Andy MacDonald

I was recently hired to offer my expert opinion on a litigation case where a handful of investors agreed to participate in a syndicated private second mortgage on a commercial building. There were many red flags with this transaction but the thing that stuck out the most to me was the lack of experience amongst the multiple mortgage brokers and agents that were involved in the transaction. Most of them had only been in the business for a few years. There was some phuckery involved in the transa...

Testimonial: Steven M. Polak

Posted on November 25, 2025November 25, 2025 by admin

I have had the pleasure of working with Andy MacDonald as an Expert Mortgage Broker on a case that I worked on. Andy was responsive, timely, thoughtful and well informed. He provided us with real assistance in understanding the issues in the case and informing the Court process. His report and opinion were well written and well thought out. Thank you Andy. Sincerely, Steven M. Polak Partner, Lerners LLP

Testimonial: Robert D’Orazio

Posted on October 24, 2025October 24, 2025 by admin

Andy, Your insight and guidance have been invaluable to my family and I to help us navigate through some very important and generational decisions. Thank you for the wisdom and transparency that fostered a trust that is so important at times like these and during decision making of such consequence. We are forever grateful. Robert D’Orazio Oakville, Ontario