The government and FSRA have implemented new licensing classes for mortgage agents and brokers effective April 01, 2023. Visit the New Licensing Requirements Transition - Information and Resources page for details.


All individuals and businesses who conduct mortgage brokering activities in Ontario must be licensed with the Financial Services Regulatory Authority of Ontario (FSRA). FSRA regulates the mortgage brokering industry in Ontario under the Mortgage Brokerages, Lenders and Administrators Act, 2006.

All mortgage broker and agent licences (including Principal Broker licences) expire on March 31 each year. Renewal applications can be submitted to FSRA starting February 1 through Licensing Link.

Note: while some renewals are processed quickly, others may require additional review. Submit your renewal application as soon as possible to avoid having your licence expire.

If the Principal Broker does not submit an application to renew his or her own licence by March 31, and there is no other licensed broker who has renewed their licence, the brokerage licence will be automatically suspended. In addition, all the agents and brokers under that brokerage will no longer be authorized to deal or trade in mortgages, and their licence status will be “suspended but can transfer.” That means the agents or brokers must transfer their licence to another brokerage if they wish to resume conducting mortgage business.

New for 2023: updated licensing requirements

Please note that FSRA and the government are introducing a new license class for mortgage agents in April 2022. FSRA also introduced enhanced educational requirements for brokers and agents working with private mortgage lenders and working on raising capital.

The new requirements will better protect consumers and investors by helping ensure they receive appropriate mortgage advice and product recommendations when dealing with private mortgages.

Learn more about the new requirements on FSRA’s website at our dedicated Info Hub or see materials from our recent webinar.

Additional responsibilities for Principal Brokers

In addition to renewing your own licence, if you are a Principal Broker, you are responsible for renewing each of your broker’s or agent’s licences as follows:

  • Verify that each mortgage broker or agent is still suitable for licensing
  • Initiate the licence renewal application on behalf of each agent or broker in Licensing Link, and send the application to the agent or broker.
  • Review the licence renewal application that has been completed by each mortgage broker or agent to ensure it is accurate.
  • The broker must pay the required licence renewal fee and submit the application via Licensing Link.

All of these steps must be completed each year by March 31, otherwise the agent or broker's licence will lapse.

Frequently asked questions - MB Renewals

New private mortgages course and challenge exam

All mortgage agents and brokers must complete the Challenge Exam or Private Mortgages Course before renewing their licence in March 2024. The Challenge Exam is only available to agents and brokers 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 early 2023, all active mortgage agents and brokers will receive an email advising the if they are eligible to take the Challenge Exam or must complete the Private Mortgages Course in order to maintain their licence after March 31, 2024.

Visit New Licensing Requirements Transition – Information and Resources or see materials from FSRA’s recent webinar to learn more about new licensing requirements.