The Financial Services Commission of Ontario (FSCO) is providing the statistics below in order to keep the mortgage brokering industry up-to-date on:
Principal brokers need to be aware that all mortgage broker and agent licences will expire on March 31, 2016, unless an application for a licence renewal is submitted to FSCO through Licensing Link.
The deadline for submitting licence renewal applications to FSCO is March 31, 2016. Since FSCO is expecting a high volume of applications in March 2016, please apply early.
If the principal broker does not submit licence renewal applications for the mortgage brokerage's agents and brokers by March 31, 2016:
- The mortgage brokers' and agents' licences will expire on March 31, 2016.
- The mortgage brokers and agents will not be authorized to deal or trade in mortgages after March 31, 2016.
- The mortgage brokers and agents will need to apply for a new licence and pay the new applicant fee, if they wish to conduct mortgage brokering activities.
Mortgage Brokers and Agents Who Have Completed the Continuing Education Course as of April 1, 2016
|Principal Broker||1,163|| 1,146|
|Mortgage Broker||1,496|| 1,512|
|Mortgage Agent||10,677|| 10,019|
Mortgage Broker and Agent Licence Renewal Statistics as of April 1, 2016
|Principal Broker||1,163|| 1,008||87%|
|Mortgage Broker||1,496|| 1,393|| 93%|
|Mortgage Agent||10,677|| 8,950|| 84%|
*Adjusted for 1st