A Kelowna mortgage broker who forged paperwork to cover up a mistake has been fined $35,000.<\/p>\n\n\n\n
According to a Nov. 20 BC Financial Services Authority decision, mortgage broker Graham Campbell \u201cpanicked\u201d when he realized he\u2019d failed to lock in an interest rate for a client, but instead of coming clean, he altered a different pre-approval certificate and added his client’s name.<\/p>\n\n\n\n
The issue only became apparent when the client called the lender and was told there wasn\u2019t a mortgage approval with their name on.<\/p>\n\n\n\n
The decision said Campbell was contacted by a first-time homebuyer in early 2023.<\/p>\n\n\n\n
Campbell told the client he\u2019d secured a 4.89% interest rate, and it would be valid for several months.<\/p>\n\n\n\n
Three months later, the client found a place for $480,000 and put an offer in, subject to financing.<\/p>\n\n\n\n
The mortgage broker then realized he hadn\u2019t submitted the paperwork to hold the interest rate, and he\u2019d been looking at another client\u2019s file.<\/p>\n\n\n\n
However, he didn\u2019t own up to it.<\/p>\n\n\n\n
Instead, he spoke to the client telling them that more financial information was needed and saying their file was under review.<\/p>\n\n\n\n
\u201cHe did this knowing it was not true, and he did not tell (the client) that the rate hold application had not been submitted,\u201d the regulator said. <\/p>\n\n\n\n
He then got financing approved at the slightly higher rate of 5.14% and asked the client to request an extension for the subjects to be removed.<\/p>\n\n\n\n
She didn\u2019t get the extension and had the subjects removed. The client then asked for a copy of the pre-approval certificate.<\/p>\n\n\n\n
Campbell then gave the client a pre-approval certificate containing a different mortgage number, but in the client\u2019s name.<\/p>\n\n\n\n
\u201cMr. Campbell had altered an existing pre-approval certificate respecting a different client to make it appear as if it was related to (his client),\u201d the decision read.<\/p>\n\n\n\n
Days later, the client contacted the lender directly and was told there was no record of any mortgage application in her name.<\/p>\n\n\n\n
The client then complained to the regulator.<\/p>\n\n\n\n
The decision said Campbell offered to pay the difference between the rate he told the client he\u2019d gotten and the one he did, which was around $5,500.<\/p>\n\n\n\n
He also emailed the client and admitted his mistake and offered to do more to rectify the situation.<\/p>\n\n\n\n
Campbell told the regulator that when he realized he hadn\u2019t submitted an application to secure the lower interest rate, he \u201cpanicked\u201d and tried to come up with a solution.<\/p>\n\n\n\n
\u201cHe admits that his actions in misrepresenting the rate hold after realizing he had not secured it, and subsequently altering a pre-approval certificate, were a complete lapse in judgment on his part,\u201d the decision read.<\/p>\n\n\n\n
The decision said Campbell fully cooperated with the investigation and \u201cdemonstrated accountability and remorse\u201d for his conduct.<\/p>\n\n\n\n
\u201cMr. Campbell has since implemented updated administrative processes and is operating with improved dedicated compliance support,\u201d the regulator said.<\/p>\n\n\n\n
Campbell signed a consent agreement admitting to his behaviour and agreed to pay a $35,000 fine plus, $2,500 costs.<\/p>\n","protected":false},"excerpt":{"rendered":"
He said he ‘panicked’ when he realized he’d made a mistake.<\/p>\n","protected":false},"author":292,"featured_media":7753,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"guid":"","_duplicate_post":false,"rank_math_canonical_url":"","source":"","byline":"","published":"","updated":"","_infotelid":"","_prepressid":"","_multisite_post_sync":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1680,541,543],"tags":[],"region":[322,323,324,325],"class_list":["post-7752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-local","category-topnews","region-kamloops","region-kelowna","region-penticton","region-vernon"],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/infonews.ca\/inhome\/news\/7752\/kelowna-mortgage-broker-who-forged-paperwork-to-cover-up-mistake-fined-35000\/","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Kelowna mortgage broker who forged paperwork to cover up mistake fined $35,000","url":"http:\/\/infonews.ca\/inhome\/news\/7752\/kelowna-mortgage-broker-who-forged-paperwork-to-cover-up-mistake-fined-35000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/infonews.ca\/inhome\/news\/7752\/kelowna-mortgage-broker-who-forged-paperwork-to-cover-up-mistake-fined-35000\/"},"thumbnailUrl":"https:\/\/infonews.ca\/inhome\/wp-content\/uploads\/sites\/4\/inhome-hd-mediaitemid107353-7357.jpg?w=150&h=150&crop=1","image":{"@type":"ImageObject","url":"https:\/\/infonews.ca\/inhome\/wp-content\/uploads\/sites\/4\/inhome-hd-mediaitemid107353-7357.jpg"},"articleSection":"Featured","author":[{"@type":"Person","name":"Ben Bulmer"}],"creator":["Ben Bulmer"],"publisher":{"@type":"Organization","name":"iNhome","logo":""},"keywords":[],"dateCreated":"2025-12-08T03:00:00Z","datePublished":"2025-12-08T03:00:00Z","dateModified":"2025-12-08T03:00:00Z"},"rendered":"