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.
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.