Mortgage Agent Course – Become a Licensed Mortgage Agent in Ontario
Thinking about starting a career in the mortgage industry? The first step is completing a Mortgage Agent Course, approved by the Financial Services Regulatory Authority of Ontario (FSRA). Once completed, you must be hired by a licensed mortgage brokerage in order to become registered and begin working as a mortgage agent.
This information is sourced from the Financial Services Regulatory Authority of Ontario (FSRA)About the Mortgage Agent Level 1 Licence
An Ontario mortgage agent level 1 is a professional who deals or trades in mortgages for a licensed mortgage brokerage, under the supervision of a licensed mortgage broker.
A mortgage agent level 1 may arrange mortgages solely with lenders which are financial institutions or approved lenders under the National Housing Act, as described in regulation.
Mortgage Agent Level 1 Education Requirements
To meet the education requirements for a mortgage agent level 1 licence, you must successfully complete the FSRA-approved mortgage agent level 1 education program. You must apply for a mortgage agent level 1 licence within two years of successfully completing one of these approved mortgage agent level 1 education programs.
Become a Mortgage Agent Level 2
If you wish to work as mortgage agent level 2 in Ontario, you must apply to upgrade your mortgage agent level 1 licence with the Financial Services Regulatory Authority of Ontario (FSRA). In order to be a mortgage agent level 2, you must have been already licensed as a mortgage agent level 1 for at least 12 months over the last 24 months.
FSRA Fee for a New Application to Obtain Your Mortgage Agent Licence
The fee for a new mortgage agent licence is $941. The fee will be prorated based on the month in which your application is submitted in the fiscal year, and is processed on your behalf by the Principal Broker of the brokerage.
Approved Mortgage Agent Education Programs
The mortgage agent level 1 program consists of the mortgage agent level 1 course. FSRA has approved several mortgage agent level 1 courses for licensing purposes. All these courses were developed using the same curriculum, but different providers may use different formats such as classroom, correspondence, online or a combination of teaching methods. The tuition fees for each course are set by each independent program provider. All the approved programs include a final examination.
This course is offered through:
