The Financial Services Commission of Ontario (FSCO) is warning consumers that Vaughan, Ont.-based Titan Equity Group LTD is not licensed or registered to conduct syndicated mortgage brokering business in Ontario.
Titan is soliciting syndicated mortgage investments via their website, offering investments as “PMIs” or “pooled mortgage investments.” The investments are available through cash or registered funds (RSP, RESP, TFSA, LIRA, LIF, RIF) or a combination of both. Titan advertises between 8 to 12 per cent fixed contractual returns, with terms between one and five years.
FSCO says consumers should exercise caution if they are contacted by anyone from Titan.
“It is important to note that syndicated mortgage investments may not be guaranteed and are made at the risk of the investor,” FSCO says.