How to Become a Licensed Mortgage Agent | Financial Services Regulatory Authority of Ontario

FSRA COVID-19 Updates

PENSIONS – 05/22/2020 – Updates to the Pension Sector Emergency Management Response Guidance – The Pension Sector Emergency Management Response Guidance previously issued on April 24, 2020 is now updated to reflect the Government of Ontario’s amendment to Regulation 909 and information on the impacts of COVID-19 market shocks as a plausible adverse scenario on funding valuation reports. Read more…

PENSIONS – 05/22/2020 – Limitations on Commuted Value Transfers and Annuity Purchases (DB Pension Plans) – We have issued new guidance on transferring commuted values and purchasing annuities when a pension plan’s transfer ratio has declined since the most recently filed valuation report by 10% and is now below 0.9. Read more…

MORTGAGE BROKERING SECTOR – 5/11/2020 – FSRA increases protections for consumers of mortgage-based investments – FSRA is launching new guidance to increase protections for consumers during periods of market volatility and disruption, such as the current COVID-19 pandemic. Read more…

PENSIONS – 4/28/2020 – Important Service Update for Pension Plans – In response to COVID-19, our Pension Officers are working remotely. Here is how you can reach them. Read more….

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In order to become a licensed mortgage agent in Ontario, you must be authorized by a mortgage brokerage and agree to deal in mortgages for that brokerage only. You must also:

Be 18 years of age or older
Be a resident of Canada
Have a mailing address in Ontario that can receive registered mail (not a PO box)
Successfully complete an approved course and exam

Mortgage agent education program

Before applying for your broker licence, you will need to take a course, approved by the CEO of FSRA, and pass an exam. Courses are available in English and French and are offered by a number of different providers. You must apply for your agent licence within 2 years of completing the course.

Please note that while some providers may offer different course formats, i.e., classroom or online, the standard curriculum remains the same.

Where to find a course

Mortgage Professionals Canada (MPC)

Canadian Mortgage Brokers Association - Ontario (CMBA)

Real Estate and Mortgage Institute of Canada Inc. (REMIC)

You may also take a mortgage agent education program offered by various community colleges in Ontario including: