The Financial Services Regulatory Authority of Ontario (FSRA) is warning consumers that Vip Sris is not licensed to conduct mortgage business in Ontario. 

“It has been reported that an unlicensed operator going by the name Vip Sris, which is presumed to be fake, is conducting mortgage business with an invalid mortgage license M19005689 and issuing fake pre-approval letters to new home buyers. Buyers are presenting these fake pre-approval letters to builders as proof that they are able to secure the financing needed to buy the property,” said the regulator in a statement. 

FSRA says consumers should exercise caution if they are contacted by Vip Sris or anyone claiming to be acting on their behalf. Consumers are also advised not to obtain mortgages arranged through Vip Sris.