2024-2025 Mortgage Brokering Sector Supervision Focus

The 2024-2025 Plan maintains our areas of supervision focus from last year given that the top consumer protection risks have not changed.

As a result, the Plan has three focus areas to ensure that:

  • Brokerages and principal brokers have in place a strong conduct culture that supports fair treatment of consumers.
  • Consumers receive mortgage advice and products suitable for their individual needs and circumstances, especially with regard to private mortgages. This is crucial as the number of consumers turning to these more complex products continues to grow, as data from our first ever Private Lending Report shows.
  • Investors and lenders have confidence that mortgage administrators are appropriately handling and protecting investments in administrators’ care.

The Plan will also help the sector better understand their responsibilities, and FSRA’s expectations for conduct and compliance.

We urge mortgage professionals to closely read the Plan, and all relevant Guidance and publications to stay informed about their regulatory responsibilities.

2023-2024 Mortgage Brokering Sector Supervision Focus

FSRA continues to protect consumers’ interests when they shop for a mortgage or invest in one. We are releasing our annual Mortgage Brokering Sector Supervision Plan which will:

  • Help consumers receive mortgage recommendations suitable for their needs.
  • Ensure investors and lenders have confidence that mortgage administrators are protecting the investments and funds in their care.

It will also help industry better understand FSRA’s expectations and identify areas of improvement.

As always, mortgage professionals must keep their clients’ interests top of mind. We encourage the sector to review the Supervision Plan and our other materials to learn more about their licensing obligations and requirements.

2022-2023 Mortgage Brokering Sector Supervision Focus

The focus for 2022-23 is to ensure mortgage brokers and agents protect their clients and keep their interests in mind by:

  • reviewing private mortgage brokering
  • reviewing the conduct culture and compliance structure at large mortgage brokerages
  • conducting compliance reviews in scenarios where financially vulnerable consumers may be more prone to misconduct or abuse

These actions will help FSRA ensure that consumers receive suitable mortgage products and investment recommendations that are easy to understand and meet their needs.

FSRA expects principal brokers, brokers, agents and administrators to review the 2022-2023 supervision plan. They should also review other FSRA publications for more on their licensing requirements and obligations.

2021-2022 Mortgage Brokering Sector Supervision Findings

Previous supervision plans:

FSRA protects consumers in the mortgage brokering sector by overseeing the conduct of over 15,000 licensed agents, brokers, brokerages and administrators.

Learn more: