Verico the Mortgage Station, Loan Sharks In Lefroy

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Are the loansharks at "Verico the Mortgage Station" a financial risk to seniors?

We asked Steven Ranson, Pres./CEO, of HomeEquity Bank CHIP Reverse Mortgage

The brokers at Verico the Mortgage Station trade heavily in the setup of CHIP Reverse Mortgages offered by the HomeEquity Bank. This means they attract seniors who want to stay in their own homes throughout at least most of their retirement. So, you would think that the Detective, Inspector, and Chief of the South Simcoe Police Service who are choosing to ignore the evidence of loansharking, as committed by Renee Dadswell, a broker at Verico the Mortgage Station, would be a bit more concerned about ensuring that seniors are not defrauded of their life savings.

Instead, they seem more concerned about ignoring evidence, jumping to conclusions, fawning over the wealthy brokers, listening to only one side of the case, and being insulting in their written report.

I am now in a position of waiting for a response to my complaint that is written and is being sent to the Office of the Independent Review Director. I am also in a holding pattern as I write and await a reply to my letter to the Ontario Provincial Police seeking an investigation of what I feel is an outside influence in this investigation by biased and seemingly compromised detectives of the South Simcoe Police Service.

So, I wrote to Steven Ranson, President, and CEO, of HomeEquity Bank, asking if he feels it is safe for his company’s customers to deal with the brokers of Verico the Mortgage Station.

Mr. Ranson:

As you are aware, our first couple of articles in support of our documentary “Pandemic Profiteers” have been released and are drawing considerable attention from both the general public and now mainstream media.

Our next step will be to release a short video version of that content. As you will see on our Facebook page, our videos are quite popular with Google.

Through our investigative journalism, we are exposing the crimes committed by Renee Dadswell; and by David Flude and Lisa Purchase through association and collaboration.

The story is also expanding exponentially as our evidence shows clearly that based on a cost of $499.75 charged over a 46-day period on a loan of $2,000.00, it is impossible that I was charged the 1% per month or 12% per year that was believed by one gullible detective who chose to accept on blind faith the claims of the brokers at Verico the Mortgage Station to such a point that he did not even speak or communicate in any way with me.

The Inspector who brushed me off also claimed that the brokers provided a document to the easily swayed detective that he said showed the rate was the lower figures and that I had signed it.

As the math shows, that is both impossible and a lie, so we are now looking at potential charges of falsifying evidence and obstruction. There will also likely be a deeper investigation into the motives behind the decision by South Simcoe Police to accept this easily exposed deception.

Of course, I don’t have to tell you, nor any of the hundreds of mortgage brokers who are now visiting our story, sometimes several times a day, that the math shows the rate charged was 10% per month or 120% per year regardless of what the detective chose to see.

The brokers at Verico the Mortgage Station may have motivated a detective to see things their way, and that detective might have pulled the wool over the eyes of his Inspector. However, this is going much higher than the inner commercialism of the Mayberry Police Department.

I have already started a draft of a complaint to be filed with the Office of the Independent Police Review Director later this week and to the Ontario Provincial Police Financial Crimes Division. The math simply does not lie, and that evidence cannot be perverted by incompetence or corruption.

All the detectives and top brass at the South Simcoe Police are accomplishing is to make our story bigger by attracting more viewers who share our story after seeing for themselves the corruption behind the obvious deception. The math is what we did in grade five.

Most people are afraid of the police, which is likely why the South Simcoe Police Service thought they could just tell me to go away.

However, I have taken on corrupt police officers while reporting on similar stories in Ontario and England and I won both times based on the evidence. In both cases, the exposure was very public and damaging to every person and business that was caught in the orbit of the story.

My intent here is not to take on the police, but to help ensure that the vulnerable in our community are not taken advantage of by illegal financial deception that is made possible by well-greased palms; more specifically, young first buyers, new immigrants, and seniors.

It is the security of the seniors that brings me to contact you. Your product, the reverse mortgage, is sold exclusively to potentially vulnerable seniors, and as you can see from the attached pictures, your product is pushed hard at Verico the Mortgage Station.

Deposit by Renee Dadswell

The CHIP Reverse Mortgage advertising is prominent on the building.

Mortgage disbursement record showing the amount paid to Renee Dadswell

This promise of retiring at home would draw in seniors.

What I fail to understand is why your bank would continue to do business with these brokers, especially after having seen with your own expertly trained eyes how much interest was in truth charged to me while these brokers sold me the services of your company.

I know that various people from your company are frequently visiting our page, but if you are unaware, I am referring to the details and evidence included in our article located at HTTPS://

Our media company focuses on helping those in our community who do not have a voice or who are overlooked. As can be seen on our testimonials page, HTTPS:// we are highly respected for the work we do and the people we help.

Our most recent video, about proposed Draconian bylaws that would make homelessness a crime, is drawing a lot of attention from mainstream media.

We see this story about Verico the Mortgage Station to be associated with the issue of homelessness as many people are losing their homes to unethical dealings like we are exposing in our story. That is why it is drawing national interest, and more of it every day.

The Reverse Mortgage already has a bad image due to some media reports about unethical dealings in the United States that I do not believe are associated with your company.

Unfortunately, in this cancel culture world, most people do not research all the facts before making a decision. As was shown by the pandemic, most people get their “facts” and “news” from websites, memes, and outraged “experts” who like to point and accuse vacuously.

I did do research on your company, and clearly, I was not scared off as I have a mortgage with the Home Equity Bank.

So, I question why your company continues to work with the brokers at Verico the Mortgage Station or why you allow them to fly your banner on the window of their offices.

I have no desire to harm your company, but we cannot ethically avoid including what is in the window of the Verico the Mortgage Station windows, nor withhold information regarding who Renee Dadswell, David Flude, and Lisa Purchase represent or what products they sell.

I offer you the opportunity to clear the air for your potential customers through an on-camera interview that we can undertake at your earliest convenience.

I reserve the right to include all or part of this correspondence within articles pertaining to our documentary “Pandemic Profiteers” and within the program itself.


John Ironside

Producer / Director
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