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Ontario
This course is the required first step to becoming a licensed mortgage agent and then a mortgage broker in Ontario. This course is approved by the Financial Services Regulatory Authority (FSRA previously FSCO).
Mortgage agent courses can be taken a day a week in class over a few weeks with a final Friday or Saturday exam, or taken at your own pace online with a final Friday or Saturday exam. In class you will receive the benefit of an experienced instructor and class discussion with other participants.
The online course takes roughly 40 hours to complete and must be completed within 6 months of registering. The course is based on the textbook Introduction to the Canadian Mortgage Industry. The course prices range between $298 - $425.
The Superintendent has approved the following mortgage agent education programs for licensing purposes. Programs are provided commercially, and tuition fees are set by each program provider. All programs were developed using the same curriculum, but different providers may use different formats, such as classroom, correspondence, online, or a combination. All include a course of study followed by a final examination
There are 3 different associations which provide the Ontario Mortgage Agent course:
- Mortgage Professionals Canada
- Canadian Mortgage Broker Association-Ontario
- REMIC Mortgage Agent Course
Once you've completed your course, you have 2 years to become licensed with a brokerage. Take some time to research various brokerages to find a right fit and be sure to complete a resume as you would when applying for any other job. There are many different business models in the mortgage broker industry, with Invis Mortgage Intelligence having a Full Service Model. This means we take care of the time consuming tasks like payroll and compliance and marketing, so you can concentrate on building your mortgage business. Our trusted DAILY payroll system is a big attraction to many new agents. Please explore the site to learn more about our brokerage.
Upon deciding to join Invis Mortgage Intelligence, you will complete our application and once our background checks are completed (credit, criminal and Redx), we will prepare contracts for signing and then apply to FSRA for your license. A new license takes approximately two weeks for FSRA to approve.
Depending on your experience level, we can place you with a team leader to be mentored, or we can set you up as a team leader yourself. Once on board, we provide discounted pricing for the Lion's Share - New to the Industry Course which provides underwriting guidance, process templates and training modules.