Canadian Maple Leaf Licensing Info: FSCO (Ontario) #11363,
and serving all other provinces.
 

GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
^
50% - Moderately

Collusion


Synonyms:con, defraud, plot
Filed Under: financial-banking, legal-contracts, mortgages, real-estate
Tags: banking, contract, legal, mortgage, realty
 

Definition of collusion

collusion
1. A private and fraudulent agreement made by two or more parties to purposely defraud others.

Related Terms and Acronyms:

  • clean sheeting   A type of insurance fraud where an individual deliberately fails to disclose a pre-existing condition in order to receive coverage, sometimes with the help of an insurance broker.
  • fidelity bond   Insurance that protects a business from losses due to employee fraud, such as theft, forgery or fraudulent trading.
  • insurance fraud   An illegal attempt by an individual or entity to receive insurance benefits that they would otherwise not be entitled to or for an insurance company to deny a legitimate insurance claim.
  • swap   An agreement between two businesses to exchange commodities, payments or other financial products to reduce the risk of volatile market conditions or to obtain a better price or rate. For example, interest rate swaps, where floating rate interest is exchanged for fixed rate interest, protects a corporation against rises in rates or allows it to take advantage of a better rate. A cross-currency swap enables two parties to enter into an agreement in which one exchanges its currency for the other's to meet their separate requirements.
  • unauthorized insurance   A fraud where a scammer sells a victim an insurance policy that doesn't exist.
  • unfair claims practice   The act of an insurance company avoiding or reducing valid insurance claims.

Search the Glossary

Mortgage Calculator
How does an adjustment in the size of your down payment change how much you'll end up paying for your new home? The difference can be staggering. Use our mortgage calculator and see how a simple change can save you tens of thousands of dollars.
Mortgage Calculator
 
Mortgage Rates
Wait! Before you apply for a mortgage through your bank, make sure you aren't leaving money on the table. Compare the best mortgage rates in Canada right now. It'll only take a minute, but you'll be surprised just how much you can save!
Mortgage Rates
 
Compare Today's Best Rates
We have nothing to hide and that's why we post all of Canada's current mortgage rates for you to compare. We strive to maintain our spot at the top of that list each and every day with the best mortgage rate available.
Compare Rates