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Mortgage Agents and Brokers: Remember Your 2020 Continuing Education Requirements

Mortgage agents and brokers in Ontario, have you completed your 2020 continuing education requirement yet?

By law, all mortgage brokers and agents in Ontario must complete an approved continuing education (CE) course by March 31, 2020 before they can renew their license.

While these courses were previously regulated by the Financial Services Commission of Ontario (FSCO), the Financial Services Regulatory Authority of Ontario (FSRA) has assumed the regulatory authority for FSCO and the Deposit Insurance Corporation of Ontario (DICO) as of June 8, 2019.

As such, the FSCO CE credits are now regulated by FSRA.

However, Ontario mortgage agents and brokers are still required to undertake mandatory continuing education. Here is where they can do so:

  • Canadian Mortgage Brokers Association – Ontario

CMBA Ontario has been approved by FSRA to provide the mandatory Continuing Education Course for Mortgage Agents and Brokers. They offer both an online and in-class option.

See session details: http://www.cmbaontario.ca/continuing-education-course/

  • Mortgage Professionals Canada

Mortgage Professionals Canada’s 2020 Ontario Continuing Education for Mortgage Agents and 2020 Ontario Continuing Education for Mortgage Brokers are also approved by FSRA for the mandatory CE credits. Courses are offered online and in-class.

Select a course: https://mortgageproscan.ca/education/regulatory-ce/ontario

  • Real Estate and Mortgage Institute of Canada Inc.

The Real Estate and Mortgage Institute of Canada Inc. (REMIC) offers broker and agent course in-class and online. The in-class option available in English only; the online option available in English and French.

Register here: https://www.remic.ca/ce/#section_big_testimonial_slider_1

CE course topics include:

  • Detecting, preventing and reporting mortgage fraud;
  • Providing required disclosures to borrowers, investors/lenders, authorizing brokerages and regulators;
  • Ensuring suitability of products for borrowers and investors/lenders; and
  • Ensuring advertising is compliant with the MBLAA and regulations.

Ensure your license is kept up to date through continuing education requirements.

Once your license is renewed, consider tools to help further your practice and career. Purview offers in-depth property reports with up-to-date title registration activity, equity estimates, ownership details, and more.

Gain access today by calling 1-855-787-8439 or visiting www.purview.ca.

Purview is just one of Teranet’s Financial Services Solutions; stay tuned for our upcoming portfolio unveiling!

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