Licensing Link for Mortgage Brokers - FAQs

Access the FSRA website at www.fsrao.ca. Click on Mortgage Brokerage, Lenders and Administrative Act (MBLAA) Licensing Link on the home page.

Mortgage Brokerages, Administrators, Agents, Brokers, and the general public.

• initiate applications for new Agents / Brokers
• pay for new applications and renewals with a credit card
• check on the status of applications submitted to FSRA
• generate reports on pending or licensed Agents / Brokers
• initiate declarations for their Directors and Officers

• complete the application process
• update address information
• renew their licence

• initiate declarations for their Directors, Officers, or Partners.

• confirm that a Mortgage Brokerage, Administrator, Agent, or Broker is licensed to conduct business in Ontario
• search the Agent / Broker listing by license number, last name, or city

24 hours a day, seven days a week.

This on-line service is designed to increase efficiencies, provide greater convenience and faster turnaround times for the licensing process in Ontario.

Unlike paper-based systems, Licensing Link helps to ensure the accuracy of applications, immediately identifying inconsistencies or missing information immediately and eliminating the frustrating process of resubmitting applications. Many licensing transactions can be completed instantaneously, avoiding delays in mailing and handling paper transactions. Brokerages and Administrators also have the convenience of payment by credit card.

The on-line application process for new applicants is initiated by the Brokerage who will electronically enter basic information about the prospective Agent / Broker. Once this profile information is captured in the system, the prospective Agent / Broker will receive an e-mail (containing a link to the application) indicating that they can complete an on-line application. Once completed the Agent / Broker will submit the application back to the brokerage for their review and submission to FSRA. Once submitted by the brokerage, FSRA staff will review the application. Brokerages can monitor the status of Agent / Broker applications through the company section of Licensing Link. Once the application has been reviewed and approved FSRA’s website listing of licensed Agents / Brokers will be automatically updated.

• access to the Internet and an e-mail address
• details of other licenses held with FSRA or other regulators
• qualification information – courses taken or exemptions

No. FSRA uses a certified third party payment processing service to process credit card payments. At no time will FSRA staff have access to the credit card information.

Extensive security features have been built into Licensing Link to protect the applicant’s information and privacy by using Secure Sockets Layer or SSL, which allows data flowing between two computers on the Internet to be encrypted. It is used on the Internet whenever a high degree of security is required, such as personal banking.

The safety of your information is paramount to us. That is why we have devoted a great deal of effort to ensure that our on-line security measures will safeguard your information. This is consistent with our responsibility to protect your privacy under the Ontario Freedom of Information and Protection of Privacy Act (FOIPOP).

FSRA has developed an area within the Licensing Link section on its website for demonstrating its features.

No. Legislation does not require that you carry a copy of your licence. FSRA’s Internet listing of licensed Brokerages, Administrators, Agents / Brokers is more reliable and up-to-date.

New licences require staff review, you will receive an email when your licence has been approved.

Renewals will be effective immediately upon completion of the application and the approved payment of the licensing fees.

Yes, these types of applications can be processed using Licensing Link but will require staff review and will not be processed automatically.

No. All sensitive data stored on the FSRA website is encrypted to prevent unauthorized use of the data. FSRA’s website is well secured using the most up-to-date hardware and software devices available.

Yes. Anyone entering Licensing Link, beyond the main licence information screen, can only do so using a PIN. This protects data from being altered by unauthorized persons.

The FSRA PIN consists of a 5 digit number, which will be provided during your initial application, or the first time you access Licensing Link to renew your licence or make changes to your profile information (e.g. address change). It acts as a password into Licensing Link and should be stored in a safe place for future use.

When Licensing Link issues your PIN, it will also ask you to provide a question to which only you can provide the answer. If at any time you forget your PIN, we can then pose this question back to you. A correct answer will allow you to retrieve your PIN.

No. Any Agent / Broker submitting a request for a name change is required to provide legal proof before a change can be made, e.g. copy of marriage certificate, etc.

Yes. Changes can be made to Agent or Broker address information at anytime. A hardcopy application is required for Brokerage or Administrator profile changes.

Agents / Brokers: When an Agent or Broker licence is approved by FSRA an email will be sent to the individual with a link to the information posted on the web listing.

General Public: A listing of all licensed Agents / Brokers is available on FSRA’s website, at www.fsrao.ca, click on Licensing Link on the home page, then select Mortgage Brokers Sector, click on Searchable Listing to access the search screen.

Paper applications/renewals will only be accepted if the applicant is unable to use Licensing Link due to a disability or other extenuating circumstance. Contact the Licensing and Market Conduct Division at [email protected], or call 416-250-7250, toll-free: 1-800-668-0128, to discuss arrangements and avoid having your application returned.

Brokerages and Administrators have a continuous licence, and will pay a regulatory fee every other year instead of a renewal fee.

The Brokerage fee will be payable upon submitting the application for a broker’s licence for the principal broker to FSRA, and at the time for renewing the principal brokers licence.

Yes, a separate licence and regulatory fee is required. The applicable fee is payable when submitting the first Officer / Director declaration via Licensing Link during the Administrator application process.

Agents / Brokers have a one year licence term, with a common renewal date of April1.

Brokers designated by the Brokerage as the Principal Broker will not be required to pay a fee. This is to avoid one person brokerages (sole proprietors and corporations) that represent 50% of the brokerages, from paying a fee twice (as a Broker and Brokerage).

To simplify the payment and reconciliation processes Brokerages will be required to submit fees on behalf of the Agents / Brokers in their employ.

No, Brokerages will be required to submit fees on behalf of the Agents / Brokers in their employ.

Fees can be paid quickly and securely using the online credit card payment facility.

Refunds will not be issued to unsuccessful applicants.

There is a link to Licensing Link in the bottom left hand corner on FSRA’s website homepage (www.fsrao.ca). Click on the Licensing Link box, click on Mortgage Brokers Sector, click on Licensing Link, log-in using the UserID provided by FSRA and your password, select new application.

No, the errors and omissions insurance policy for the Mortgage Brokerage must cover a minimum of $500,000 for any one occurrence involving the Mortgage Brokerage, or any Mortgage Broker or Mortgage Agent who is authorized to deal or trade in mortgages for the Mortgage Brokerage. The Mortgage Brokerage also requires $1,000,000 in coverage for all other occurrences that may happen during a 365-day period.

Contact the head office of your Brokerage; or access the FSRA website at www.fsrao.ca. If you have any questions, please e-mail us at [email protected], or call 416-250-7250, toll-free: 1-800-668-0128.