All individuals and businesses who conduct mortgage brokering activities in Ontario must be licensed with the Financial Services Regulatory Authority of Ontario (FSRA). FSRA regulates the mortgage brokering industry in Ontario under the Mortgage Brokerages, Lenders and Administrators Act, 2006.

All mortgage broker and agent licences (including Principal Broker licences) expire on March 31 each year. Renewal applications can be submitted to FSRA starting February 1 through Licensing Link.

Note: while some renewals are processed quickly, others may require additional review. Submit your renewal application as soon as possible to avoid having your licence expire.

If the Principal Broker does not submit an application to renew his or her own licence by March 31, and there is no other licensed broker who has renewed their licence, the brokerage licence will be automatically suspended. In addition, all the agents and brokers under that brokerage will no longer be authorized to deal or trade in mortgages, and their licence status will be “suspended but can transfer.” That means the agents or brokers must transfer their licence to another brokerage if they wish to resume conducting mortgage business.

Continuing education requirements

Every two years, by law, all mortgage agents and brokers (including Principal Brokers) in Ontario must complete an approved continuing education course before they can renew their licence.

Mandatory 2022 continuing education for Principal Brokers

Principal brokers who wish to renew their licence in 2022 must successfully complete a FSRA-approved Broker Continuing Education course before applying for a renewal. 

FSRA has approved the course providers listed below for the 2022 Continuing Education program. To enrol – or for more information, including course outlines and costs – visit the website of your preferred course provider:    

About the CE courses

The courses are designed to help increase compliance with legal and regulatory requirements. They also help principal brokers keep their skills and knowledge about mortgage products and processes current to better serve their clients.

The learning objectives of the 2022 Broker Continuing Education courses are:

  • Conflicts of Interest
  • Ethical Practices in Brokered Mortgage Transactions
  • Relationship between the MBLAA, FSRA and Licensees
  • Reporting and Record-keeping Requirements
  • Role of the Principal Broker
  • Fostering a Culture of Compliance and Consumer Protection

All Broker Continuing Education courses will conclude with two case studies addressing one or more of these learning objectives.

Mortgage brokers, including principal brokers, must complete the 2022 Broker Continuing Education course. Completion of the 2022 Agent Continuing Education course is not acceptable. 

Mortgage agents may complete either the 2022 Agent Continuing Education course, or the 2022 Broker Continuing Education course.

Additional responsibilities for Principal Brokers

In addition to renewing your own licence, if you are a Principal Broker, you are responsible for renewing each of your broker’s or agent’s licences as follows:

  • Verify that each mortgage broker or agent is still suitable for licensing and has completed the required continuing education course.
  • Initiate the licence renewal application on behalf of each agent or broker in Licensing Link, and send the application to the agent or broker.
  • Review the licence renewal application that has been completed by each mortgage broker or agent to ensure it is accurate.
  • The broker must pay the required licence renewal fee and submit the application via Licensing Link.

All of these steps must be completed each year by March 31, otherwise the agent or broker's licence will lapse.

Frequently asked questions - MB Renewals