How to Become a Mortgage Agent in Ontario

• 2 fees depend on your situation and are not in the total
• 2 steps without a listed fee
• Annual fees: $841

1. Complete approved education program

   You must successfully complete an FSRA-approved mortgage agent level 1 education program, which includes a final examination.

   Source

   “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.”

   fsrao.ca/licensing/mortgage-agent-level-1/become-mortgage-agent-lev...
2. Get brokerage sponsorship

   You must be sponsored by and authorized to deal in mortgages for one licensed mortgage brokerage.

   Source

   “They must also be sponsored by one licensed mortgage brokerage.”

   fsrao.ca/licensing/mortgage-agent-level-1/become-mortgage-agent-lev...
3. Brokerage initiates licence application

   The principal broker of your sponsoring brokerage starts your licence application through Licensing Link and emails you two links.

   • New mortgage agent level 1 licence application fee: $941 (prorated based on the month the application is submitted in the fiscal year)
     Source

     “The fee for a new mortgage agent level 1 licence is $941. The fee will be prorated based on the month in which your application is submitted in the fiscal year.”

     fsrao.ca/licensing/mortgage-agent-level-1/become-mortgage-agent-lev...
   Source

   “The Principal Broker of your sponsoring brokerage will initiate your licence application through Licensing Link. Then, they will send you an email with two (2) links:”

   fsrao.ca/licensing/mortgage-agent-level-1/become-mortgage-agent-lev...
4. Complete criminal background check

   Through the first link, you complete a criminal background check through FSRA's approved vendor Triton Canada.

   • Triton criminal background check fee: $19.15 (applies for Triton’s service; background check valid for 90 days)
     Source

     “A fee of $19.15 applies for Triton’s service, and the background check is valid for 90 days.”

     fsrao.ca/licensing/mortgage-agent-level-1/update-my-mortgage-agentb...
   Source

   “In the first link, you will be required to complete a criminal background check through FSRA’s approved vendor Triton Canada”

   fsrao.ca/licensing/mortgage-agent-level-1/become-mortgage-agent-lev...

• 1 fee depends on your situation and is not in the total
• 4 steps without a listed fee
• Annual fees: $841

1. Work under deemed certification

   Once FSRA confirms receipt of your complete application, you are deemed certified and can conduct business in Ontario for six months.

   Source

   “Once confirmation is received, an applicant is deemed certified. That certification will allow the applicant to operate in Ontario for six months, pending the receipt of a full licence application.”

   fsrao.ca/licensing/mortgage-agent-level-1/apply-mortgage-agent-leve...
2. Complete equivalency course
   Source

   “Applicants with eligible non-Ontario mortgage sector licences will be required to complete the Ontario Mortgage Licensing Equivalency Course (OMC) from a FSRA-approved provider.”

   fsrao.ca/licensing/mortgage-agent-level-1/apply-mortgage-agent-leve...
3. Attest to Ontario laws

   You attest that you understand and will comply with Ontario's laws and regulations under the Mortgage Brokerages, Lenders and Administrators Act, 2006.

   Source

   “If you hold a mortgage agent level 1 licence from an exempt province, you will need to attest that you understand and will comply with Ontario’s laws and regulations under the Mortgage Brokerages, Lenders and Administrators Act, 2006.”

   fsrao.ca/licensing/mortgage-agent-level-1/apply-mortgage-agent-leve...
4. Brokerage submits standard application

   Your Ontario mortgage brokerage initiates and submits your standard licence application to FSRA after confirming you completed the OMC.

   • Mortgage agent level 1 licence application fee: $941 (prorated based on the month the application is submitted in the fiscal year, starting in April)
     Source

     “The fee for a mortgage agent level 1 licence is $941. The fee will be prorated based on the month in which your application is submitted in the fiscal year, starting in April.”

     fsrao.ca/licensing/mortgage-agent-level-1/apply-mortgage-agent-leve...
   Source

   “Your mortgage brokerage will initiate your application.”

   fsrao.ca/licensing/mortgage-agent-level-1/apply-mortgage-agent-leve...
5. Complete criminal record check

   You must provide a criminal record check as part of the licence qualification process.

   Source

   “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.”

   fsrao.ca/licensing/mortgage-agent-level-1/apply-mortgage-agent-leve...

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