Saskatoon real estate agents accused of mortgage fraud

Mortgage broker: HELOC payments jumping sharply Mortgage broker Ron Butler says the latest rate hike will put pressure on homeowners and is causing people to dip into savings.

A pair of Saskatoon real estate agents have been charged with multiple counts of fraud following a two-year police investigation.

The investigation started more than two years ago, according to police, after "falsified banking documents that were submitted with several mortgage applications," Saskatoon Police Service (SPS) said in a news release.

Investigators found eight applications which included false documents at one financial institution, SPS said.

The SPS economic crime section subsequently executed search warrants in the 200 block of Palliser Court, 3400 block of McClocklin Road, and the 1100 block of 8th Street East.

Investigators found additional fraudulent documents connected to mortgage applications at several other financial institutions, SPS said.

On Wednesday a 42-year-old man turned himself in at SPS headquarters in connection to the investigation. He is charged with 17 counts of fraud over $5000.

Another man, 36, turned himself in on Jan. 9. He is charged with two counts of fraud over $5000.