The Financial Services Regulatory Authority of Ontario (FSRA) issued a consumer warning advising the public not to do business with Donald Newton Mason, Mason Built Financial Inc., Mason Built Financials and 1000111224 Ontario Inc., stating they are not licensed to conduct mortgage brokering business in Ontario. FSRA cautioned that obtaining mortgage products from or arranged through unlicensed individuals or entities can leave consumers with fewer legal protections and may result in unsuitable mortgage recommendations. FSRA reported that these parties have been soliciting consumers in person and by phone or email, and may pose as mortgage experts and/or investors in Ontario. The warning notes reports that consumers, including seniors, have been urged to downsize and invest the proceeds of home sales with these parties. FSRA reminded consumers that anyone dealing and/or trading in mortgages in Ontario must be licensed by FSRA and encouraged consumers to check FSRA’s public registry; those who believe they may have been victims of fraud were advised to contact local police.
Financial Services Regulatory Authority of Ontario 2025-05-09
Financial Services Regulatory Authority of Ontario warns consumers against unlicensed mortgage brokering by Donald Newton Mason and related entities
The Financial Services Regulatory Authority of Ontario (FSRA) warned against Donald Newton Mason, Mason Built Financial Inc., Mason Built Financials, and 1000111224 Ontario Inc., stating they are unlicensed for mortgage brokering in Ontario. FSRA highlighted risks of dealing with unlicensed entities, including reduced legal protections and unsuitable mortgage advice. Consumers, especially seniors, have been targeted to downsize and invest home sale proceeds with these parties. FSRA urged verification of licensing through its public registry.