A licensed mortgage agent who plans to become a principal broker or supervise other agents must become licensed as a mortgage broker. One requirement for licensing is successful completion of the mortgage broker education program. This program has a different focus than the mortgage agent program. It focuses on the skills and knowledge required to effectively supervise agents and to ensure that the brokerage complies with all applicable rules. FSCO developed the education standards for the mortgage broker and mortgage agent programs with the assistance of education experts and through extensive industry consultation to ensure that the standards align with actual practice.
The mortgage broker program is available in English and French. It consists of an online component followed by a five-day in-class session that ends with a qualifying examination. Mortgage Professionals Canada (MPC) continues to be the education provider for the next four years, effective January 2018.
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