Contributory mortgage broker
Up one levelContributory mortgage brokers are individuals or body corporates registered under the Securities Act (Contributory Mortgage Regulations) 1988.
A contributory mortgage broker is someone that offers an interest in a contributory mortgage to the public, or manages interests (that have been offered to the public) in a contributory mortgage.
A contributory mortgage is an investment vehicle that amalgamates a number of investor contributions into a larger sum, which is then advanced to a borrower.
Contributory Mortgage Brokers must be registered under the Securities Act (Contributory Mortgage) Regulations 1988 and their names can be searched at www.companies.govt.nz
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