As the principal broker for your mortgage brokerage, you need to be aware that all mortgage broker and agent licences will expire on March 31, 2016. If you or your mortgage brokers and agents want to conduct mortgage brokering activities after this date, you need to:
- Complete the mandatory 2016 Ontario continuing education course for mortgage brokers and agents by March 31, 2016; and
- Submit applications to renew your mortgage brokers' and agents' licences between February 1 and March 31, 2016.
These requirements apply to all mortgage brokers and agents in Ontario. This includes principal brokers of mortgage brokerages, agents that are employed by finance companies, and anyone who has recently obtained a new mortgage broker or agent licence.