As you may be aware from media reports, the Royal Canadian Mounted Police (RCMP) attended at BDMC‘s offices on Friday, April 13, 2018. As you know, FANN Mortgage Administrators Inc.(“FAAN Mortgage“), is an arm’s length party appointed in February, 2018 to provide management services to BDMC. FAAN Mortgage is obviously aware of the events that occurred on Friday and will cooperate fully with the authorities.
FAAN Mortgage is assessing the situation and continues to provide management services to BDMC with respect to BDMC’s administration business.
We will provide lenders with updates as information becomes available.
Yours very truly,
Building & Development Mortgages Canada Inc.,
by its Manager, FAAN Mortgage Adminstrators Inc.