Here are some important things you need to know. 

Effective April 1, 2024, there are new requirements when upgrading your licence. After this date, you won’t be able to use your mortgage agent experience from before April 1, 2023 to upgrade to a level 2 agent or mortgage broker licence.

Remember to submit your renewal applications by March 31

After April 1, 2024:

To upgrade from an agent level 1 to level 2 licence, you must meet the following criteria:

  • Education: complete the mortgage agent program and private mortgage course in the two years leading up to your upgrade application.
  • Experience: hold a mortgage agent level 1 licence for 12 of the last 24 months.

To upgrade from mortgage agent level 2 to a mortgage broker licence, you must meet the following criteria:

  • Education: complete the mortgage broker course and private mortgage course in the three years leading up to your upgrade application.
  • Experience: hold a mortgage agent level 2 licence for 24 of the last 36 months.

Your brokerage must approve your upgrade request before submitting it to FSRA.
You are responsible for meeting all requirements before applying to upgrade. There are no fees to apply to upgrade.

Visit FSRA’s website to learn more about licensing and education requirements.

Using legal names during the licensing process

Here are some tips for agents, brokers and principal brokers when completing applications:

  • Use the applicant’s full legal name including their middle name.
  • Review applications closely and thoroughly before submitting.
  • Submit the application before education requirements expire. For example, both applicant and brokerage should complete and submit their sections within two years of the applicant completing the mortgage agent program.

Licence transfer notifications

Brokerages can receive notifications when an agent or broker transfers out of their brokerage.

To activate notifications:

  1. Log in to Licensing Link.
  2. From the Main Menu, choose "Modify Company Specific Settings."
  3. In the "Send Copy of every e-mail" text box at the bottom, enter the email address where you want to receive notifications. 

Please note this will let you receive all emails related to the brokerage’s Licensing Link activity, including transfer-related notifications.