New and Improved 2020 Mortgage Brokerage and Administrator Annual Information Return Now Available
In response to feedback from industry, the Financial Services Regulatory Authority of Ontario (FSRA) has made significant improvements to the 2020 Mortgage Brokerage and Administrator Annual Information Return (AIR). This includes a number of new features that will make completing the AIR and paying the mortgage administrator fee faster and easier, such as:
- paying the 2021-22 mortgage administrator fee directly in the AIR portal. Mortgage administrators will not receive a separate invoice for the fee.
- completing AIR pages in any order
- more browser options for viewing the AIR, which include Chrome, Firefox and MS Edge (please note, you cannot view the AIR on Internet Explorer)
- providing explanations of errors so you know what to correct
The yearly AIR helps FSRA to identify trends and potential risks in the sector. For example, last year’s results informed our 2020-2021 Mortgage Brokering Supervision Approach. The full 2019 results are published in the FSRA 2019 Mortgage Brokerages and Administrators Annual Information Return report.
Complete the AIR using Licensing Link. Your 2020 AIR needs to be completed and submitted to FSRA by March 31, 2021.
All licensed mortgage brokerages and administrators must file, even if they did not do any business in 2020. Mortgage brokerages and administrators that do not file by March 31, 2021 may face summary administrative penalties, or other regulatory enforcement action.
- For more information about the 2020 Mortgage Brokerage and Administrator AIR, please visit FAQs on Annual Information Returns and Financial Statements.
- Mortgage agents and brokers can begin to renew their licences on February 1, 2021. Principal Brokers should complete and submit your personal renewal application before doing so for your agents and brokers.
- The Financial Services Regulatory Authority of Ontario (FSRA) is continuing to work with those we regulate to ensure financial safety, fairness and choice for consumers and members. Learn more at www.fsrao.ca.