Mortgage Administrator Regulatory Fee

1. What’s different?

The regulatory fee has changed based on the Assessments and Fees consultations held late 2018 to early 2019 and is now determined based on Rule 2019-001 Assessments and Fees

This change was necessary to support FSRA as an independent regulator, and its priority to transform existing regulatory processes through a new organizational design, with enhanced capacity and staff expertise.

2. What period does the regulatory fee cover?

The annual regulatory fee covers the period from April 1st, 2020 to March 31st, 2021.  It is payable by all licensed mortgage administrators wishing to maintain their license after March 31, 2020.

3. How often will I receive future invoices for regulatory fees?

The regulatory fee is an annual fee. Your next invoice will be sent on July 9, 2020 and will cover the period from April 1st, 2020 and ends on March 31, 2021.

4. When is the due date for regulatory fee?

Payment is due within 30 days of the date on the invoice.

5. Why are you contacting me now?

When FSRA announced changes to regulatory requirements on March 27, 2020 in response to COVID-19, we committed to providing 15 days notice prior to sending any remaining invoices. We have provided that notice now and will resume collection on July 9, 2020.

6. What payment methods are available?

The fee payment can be made by cheque, money order, internet or telephone banking or through the automated teller machine using the “Remittance Advice” portion of your invoice. Please include the “Remittance Advice” portion of your invoice with your payment, to ensure that it is applied to the proper outstanding invoice.

7. To whom should cheques be made payable?

Financial Services Regulatory Authority of Ontario

8. Where do I send the payment?

Please send your payment to:
Financial Services Regulatory Authority of Ontario
PO Box 9572, STN A
Toronto, ON M5W 2K3

9. What needs to be entered online to make the payment?

For customers paying online, the “Customer ID number” needs to be entered to identify the payment. This information is under “Remittance Advice” on the invoice. It has to be only six digits, without any letters.

10. Who do I contact for more information?

If you have general questions please contact the FSRA Contact Centre at 416-250-7250 or 1-800-668-0128.

Please also refer to the frequently asked questions for the mortgage brokering sector on the FSRA web site.