Why is there only one education provider for this program?
Fewer individuals seek licensing as mortgage brokers compared to mortgage agents. Given the limited market and the provider’s costs to develop and provide a high-quality program, a single education provider for this program helps to keep student fees reasonable.
How is the education provider selected?
Approximately every four years, FSCO selects a provider for the mortgage broker education program using the government’s competitive procurement process. Effective January 2018, Mortgage Professionals Canada (MPC) will continue to offer the program for the next four-year period.