All level 2 mortgage agents must renew their licences with the Financial Services Regulatory Authority of Ontario (FSRA) each year before March 31.

About licence renewals 

Your brokerage can begin the annual licence renewal starting February 1.  

FSRA will send you an email 60 calendar days before the expiration date to let you know you will need to renew your licence. This is a courtesy reminder – it is your responsibility to know when your licence will expire and to ensure your email address is up to date with FSRA. 

Note: while some renewals are processed quickly, others may require additional review. Discuss with your brokerage to submit your renewal application as soon as possible to avoid having your licence expire. Your brokerage can apply to renew your licence at any time during the 60-day window.

Fee for renewing a licence 

The applicable fee for renewing a level 2 mortgage agent licence is $883 annually. The Principal Broker of your brokerage will submit the renewal fee to FSRA after reviewing your licence renewal application. You may need to discuss with your Principal Broker whether you need to provide your brokerage with your licence renewal fee so it can be paid on your behalf. 

What if I have an inactive licence? 


If you want to start practicing as a level 2 mortgage agent again, review how to reinstate your level 2 mortgage agent licence. 

What if I miss the deadline for renewing my licence? 



If you don’t renew your licence before the expiration date, your licence will lapse and it will no longer be active. This means you will not be authorized to deal in mortgages in Ontario.


If you want to continue practicing as a mortgage agent after your licence lapses, review how to reinstate your mortgage agent level 2 licence.

Requirements for renewing the licence 

To qualify for licence renewal, you must: 

  1. Have an active licence as a level 2 mortgage agent in Ontario.
  2. Be currently authorized by an established mortgage brokerage in Ontario to deal in mortgages.
  3. Have completed the mandatory Ontario Continuing Education (CE) Course for Agents in a year that ends with an even number 
  4. Reconfirm your suitability to hold a licence and meet all licensing requirements. 

By reconfirming your suitability to hold a licence, you will need to verify that:

  • You are familiar with the laws of Ontario relating to the licensing of level 1 mortgage agents, level 2 mortgage agents and brokers
  • You will hold yourself out publicly and carry out business in good faith as a level 2 mortgage agent in the name in which you are licensed.
  • You are not engaged in any other business or occupation that would jeopardize your integrity, independence or competence. 
  • You are of good character and reputation. 
  • You have provided any new information about bankruptcies, lawsuits, criminal records, decisions from other regulators or licensing bodies and other employment information. 
  • You are a suitable person to receive a licence and meet all licensing requirements.

New Criminal Record check process

FSRA is changing its licensing processes for background criminal checks to ensure the processes remain up to date. Criminal record checks are part of FSRA’s rigorous licence qualification process to protect consumers by ensuring only suitable individuals sell or offer financial products and services in Ontario.

FSRA now requires licence applicants to complete their criminal record checks through our approved vendor, Triton Canada (Triton). If you have disclosed information about a criminal matter, or FSRA has received information that you may be involved in a criminal matter, you may be required to complete a background check after you have submitted your renewal application.

If required, FSRA will notify you, and will send a link to Triton’s website to complete the background check. Once completed, you will need to provide the 8-digit confirmation number found in your Triton invoice to FSRA. A fee of $19.15 applies for Triton’s service, and the background check is valid for 90 days.

Please monitor your email frequently for any information requests from FSRA. If you have any further questions about the new background check process, please contact us.

Frequently asked questions – Background check process

Ready to renew? 

After your Principal Broker initiates the licence renewal process, you will receive an email from FSRA with the link to renew your licence. Please note the email will come after your Principal Broker confirms to FSRA the link can be sent to you.

You must complete the following steps:  

  1. Click on the renewal link received. This link will take you to Licensing Link. 
  2. Enter your Licensing Link PIN, which was provided to you on your first mortgage agent application. If you have forgotten your PIN, you can reset it by following the instructions on the Licensing Link page.
  3. Complete your licence renewal application and click "Submit."

Your brokerage's Principal Broker will then review your licence renewal application and submit it with the required fee.

Please note that unless the status of your licence is showing as “Pending” or with an expiry date of March 31, 2024 on the public registry, your application has not been submitted to FSRA. Please contact your Principal Broker to follow up on the status of your application.

Please note you will need to complete a private mortgages course from a FSRA approved course provider by March 31, 2024. See FSRA’s mortgage brokering hub for information about the transition period. 

New private mortgages course and challenge exam 

All level 2 mortgage agents must complete the Challenge Exam or Private Mortgages Course before renewing their licence in March 2024. The Challenge Exam is only available to level 2 agents who have five years or more continuous licensing experience as of April 1, 2023. The Challenge Exam must be completed by October 31, 2023, and may only be attempted once. Individuals who do not pass the Challenge Exam must complete the Private Mortgages Course. 

In February 2023, all active mortgage agents received an email advising the if they are eligible to take the Challenge Exam or must complete the Private Mortgages Course  to maintain their licence after March 31, 2024.

Level 2 mortgage agents who do not meet the new education requirements will transition to the level 1 mortgage agent licence upon licence renewal on April 1, 2024. If you transition to a level 1 mortgage agent licence, you will only be able to transact in mortgages where the lender is a financial institution. 

Visit FSRA’s information hub for the New Licensing Requirements Transition   to learn more about new licensing requirements. 

Frequently asked questions - MB Renewals