If you are a licensed Ontario mortgage broker, you can transfer your mortgage broker licence to another brokerage.
How to transfer:
You do not need regulatory approval to transfer to another mortgage brokerage as a mortgage broker. If you choose to transfer to another licensed mortgage brokerage. The Principal Broker at your new mortgage brokerage will need to initiate your transfer application via Licensing Link.
A link will be sent to you to confirm the transfer. Then, the Principal Broker will submit your application to transfer your licence.
Please note the following:
- There are no fees for transferring your licence.
- You can only practice as a mortgage broker under one brokerage at a time, as stated in the Mortgage Brokerages, Lenders and Administrators Act, 2006. This brokerage must be the one that is sponsoring your licence.
- You should always notify your former brokerage of the transfer to your new brokerage.
What if my mortgage broker licence has expired?
If you want to start practicing as a mortgage broker again. Visit the licence reinstatement page. You may qualify to have your licence reinstated, without having to apply for a new licence.