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NSW mortgage broker banned

banned banned
Malavika Santhebennur 1 minute read

An NSW mortgage broker has been banned from engaging in credit activities for five years and had her ACL cancelled for falsifying home loan applications to lenders.

The Australian Securities and Investments Commission (ASIC) has banned Bonnyrigg Heights mortgage broker Nee Tanner from engaging in credit activities for five years.

ASIC found that Ms Tanner was “reckless in providing supporting documents for home loan applications that were false or materially misleading”.

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Several documents Ms Tanner submitted to lenders to demonstrate employment or income in support of home loan applications were found to be false, according to the regulator.

The corporate regulator has also cancelled the credit licence of NT Financial Services Pty Ltd (NTFS), for which Ms Tanner was the sole director and responsible manager.

Ms Tanner’s banning is recorded on ASIC’s Banned and Disqualified Persons Register.

Ms Tanner and NTFS have the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.

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Commenting on the banning, ASIC said: “Mortgage brokers and credit licensees must act diligently and comply with the credit legislation.”

[Related: Broker breaches guidance expected in ‘early 2021’]

NSW mortgage broker banned
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Malavika Santhebennur

Malavika Santhebennur

Malavika Santhebennur is the features editor on the mortgages titles at Momentum Media.

Before joining the team in 2019, Malavika held roles with Money Management and Benchmark Media. She has been writing about financial services for the past six years.

 

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