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Mortgage brokers and submortgage brokers are registered for two years, and registration must be renewed for additional two year periods at least 30 days prior to registration expiry. Every submortgage or individual mortgage broker who operates as a sole proprietor or partner must satisfy renewal of registration education requirements prior to renewing or reinstating registration.
- Becoming a New Mortgage Broker - BCFSA
Getting started with your registration. Before you register...
- Mortgage Broker Frequently Asked Questions - BCFSA
BC Financial Services Authority is a Crown agency...
- Becoming a New Mortgage Broker - BCFSA
Getting started with your registration. Before you register as a new mortgage broker, you will need to register your company with BC Registries and appoint a Designated Individual (“DI”) who will be accountable for and speak on behalf of the organization. To qualify to act as a Designated Individual, a person must:
- About The Licence
- Requirements For Getting A Licence
- Ready to Apply For A licence?
A mortgage broker is a professional who deals or trades in mortgages for a licensed mortgage brokerage. They may also be responsible for supervising the activities of one or more mortgage agents (levels 1 and 2). All individuals acting as mortgage brokers must have a licence from FSRA. Mortgage brokers may work with the following lenders: 1. Financ...
If you wish to become a licensed mortgage broker in Ontario, you must: 1. Be 18 years of age or older. 2. Be a resident of Canada. 3. Have an Ontario mailing address that can receive registered mail (not a post office box). 4. Have a valid email address. 5. Be authorized by a mortgage brokerage to deal in mortgages. 6. Complete an approved mortgage...
If you have met all the requirements for becoming a licensed mortgage broker, the Principal Broker of your brokerage then initiates your licence application through Licensing Link. To successfully complete your licence application, you must: 1. The Principal Broker of your brokerage will initiate your licence application through Licensing Link. The...
BC Financial Services Authority is a Crown agency responsible for the supervision and regulation of the financial service sector, including credit unions, insurance, mortgage brokers, pensions, real estate professionals and trusts. We’re committed to providing oversight and to fair, transparent processes that benefit the public, and to ...
- This guidance is a combination of Interpretation and Approach under FSRA’s Guidance Framework.
- These amendments will be reflected in the consolidated regulation in due course.
- Subsections 8(1) and 8(3)2 of O. Reg.187/08: Mortgage Brokers and Agents: Standards of Practice were also amended to address the new licensing requirements.
- Consumers include borrowers, lenders / investors, and prospective clients.
To protect yourself, be sure to work with a licensed mortgage brokerage, mortgage broker, mortgage agent and mortgage administrator. Under the Mortgage Brokerages, Lenders and Administrators Act, 2006 (MBLAA) all individuals and businesses in Ontario who carry out regulated mortgage brokering activities must be licensed with the FSRA unless otherwise exempted by the Act.
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Mortgage broker. Mortgage broker. *Experienced individuals include those that have been licensed for at least 24 of the past 36 months and have completed additional licensing qualifications). **To obtain a mortgage broker license, a person must successfully complete a probationary period of 3 months. This probationary period must be supervised ...
