Disponible en français sur demande.

Mortgage Brokering Technical Advisory Committee

Meeting summary

Date: Thursday, May 11, 2023 
Time: 10:00 a.m. to 12:00 p.m.
Location: 25 Sheppard Avenue West, Suite 100, Toronto, ON M2N 6S6
Videoconference – Microsoft Teams 

This summary sets out the key points discussed at the May 11, 2023, meeting.


The Chair called the meeting to order and welcomed TAC members.

Renewals and new mortgage agent classes update

FSRA provided an update to the TAC on the new licensing classes which became effective on April 1st, 2023, a day after the renewal period closed. TAC members were informed that FSRA continues its messaging to the sector about the requirement related to the challenge exam and the private mortgage course ahead of the upcoming deadlines in October 2023 and March 2024.

Fee Rule update

FSRA shared Fee Rule status after initial industry comments received with the TAC and clarified new fees as well as start date.

Mortgage product suitability assessment Guidance

Mortgage suitability obligation rests on mortgage brokerages and through the mortgage brokers and agents who act on their behalf.

FSRA has put together guidance based on some feedback from MBRCC and discussed expectations with the TAC in order to get their feedback. 

Enforcement and escalated matters update 

Since January 2020 about 40-45% of FSRA’s legal work in enforcement was in the Mortgage Brokering sector.

Transparency of enforcement

As of April 2023, FSRA introduced a searchable enforcements database on its website for all actions taken in the mortgage sector, including more detailed notices for proposal. 

2023 Consumer research

The purpose of the study was to assess consumers’ experiences when dealing with mortgage brokers and their expectations for the sector, especially when engaging to receive non-conventional mortgages. The key focus was on vulnerable consumers. 

The findings are expected to be published soon.

Next meeting

The next meeting of the committee will be scheduled for Thursday September 14, 2023 from 1.00 pm – 3.00 pm.

Attendance record

Invited/ Attended

Company name

Attendance status

(A)ttended; (R)egrets; (S)ubstitute; (VC)Teleconference

Sadiq Boodoo

Approved Financial



Guido Di Franco

Richview Capital MIC Inc. / Mortgage Architects Experts


Kevin Fettig

CMI Financial Group


Carla Gervais

The Mortgage Advisors (Verico)


Elizabeth Gnoinski

Boss Mortgages – The

Mortgage Center


Neil Gross

Component Strategies



Victoria Joly

Distinctive Real Estate

Advisors Inc.


Alex Leduc

Perch (Mortgauge)


David Morrison

Morrison Financial


Dong Lee DLCG / Mortgage Architects VC

Anisa Sherwood Lancione

Mortgage Brokers City


Marie Taylor



Gina Stephens

Ministry of Finance


Monica Liang Ministry of Finance VC

FSRA members present:

Antoinette Leung, Chris Zolis, Dave Veeren (Secretariat), Elissa Sinha, Jason Harris, Jelena Pejic, Jennie Hodgson, Jessica Rose, Jisha Sarwar, Joel Gorlick, Nadiatou Fagbemi, Natalia Molka (Support), Rocca D’Angela, Serina Yau, Siddhartha Kalita, Stuart Wilkinson and Wendy Horrobin were present at the meeting.