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HOUSING: Alberta amends Real Estate Act to help combat mortgage fraud
        (AlbertaIndex, March 21) --- George Rogers, MLA for Leduc-Beaumont-Devon, introduced Bill 24 - the Real Estate Amendment Act, 2007 - in the Legislative Assembly on March 20 to help the Real Estate Council of Alberta prevent mortgage fraud and other real estate misconducts.

        The proposed amendments are aimed at strengthening the ability of the Real Estate Council to investigate cases of mortgage fraud. The amended act also makes a criminal record check a prerequisite for a real estate agent, mortgage broker or appraiser to be licensed.

  provincial committee with representation from government, lenders, law enforcement and the real estate industry made a number of recommendations to the government of Alberta in December 2005 aimed at fighting mortgage fraud in Alberta.

        Among its recommendations, the Advisory Committee on Mortgage Fraud urged the government to allow increased sharing of information related to mortgage fraud.

        The Real Estate Council is an independent, non-government agency responsible for regulating industry professionals in the real estate, mortgage broker and real estate appraisal industries under Alberta's Real Estate Act.



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