$50K fine for woman who submitted fake documents on behalf of 5 mortgage clients

A former submortgage broker who admitted to faking income documents for several clients has been fined $50,000, according to the BC Financial Services Authority.

In a consent order posted on the BCFSA's website Wednesday, Ravinder Biln admitted to submitting fake letters of employment and pay stubs in support of five different mortgage applications.

The misconduct occurred while Biln – who conducted her business under the name Ravinder Kaur – was employed by Kraft Mortgages Canada Inc., doing business as Architects Kraft Mortgages Canada.

"Between September 2017 and June 2018, Ms. Biln created income documents in support of mortgage applications when she knew that the information contained in the documents was inaccurate and misleading," the agreed statement of facts reads.

"She then submitted the false information to lenders for the purpose of obtaining mortgage financing in five separate mortgage applications."

The consent order goes on to explain the details of the five applications, which involved a total of seven borrowers. It does not indicate whether the applications that included false documents were successful.

In each case, the agreed statement of facts indicates that Biln created one or more documents in support of the application – typically letters of employment and pay stubs – showing misleading information about the clients.

In four of the cases, the letters of employment were presented as being from employers that Biln knew did not actually employ the borrowers. In the fifth case, the letter of employment contained a start date that Biln knew was earlier than the borrower's actual start date "and was inaccurate and misleading as to her length of employment."

The names of the borrowers and employers are redacted in the version of the consent order posted online.

By agreeing to the consent order, Biln waived her right to a hearing or an appeal of her case. She also agreed to pay the BCFSA a $50,000 administrative penalty, which the document indicates is due "immediately."

Biln has not been licensed as a submortgage broker since March 2020, and "does not intend to return to the mortgage industry," according to the BCFSA.