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Course Catalogue


New Brunswick Mortgage Broker Education Program

NON-MEMBER
$495.00
COURSE TYPE
Licensing

The New Brunswick Mortgage Broker Education Program is required by the Financial and Consumer Services Commission of New Brunswick (FCNB) for Mortgage Broker licensing under the Mortgage Brokers Act. For full broker licensing requirements, please visit FCNB's website.

Please review the Course and Cancellation Policies and the Learners Code of Conduct before registering.

The New Brunswick Mortgage Broker Education Program is designed in line with the FCNB-mandated curriculum as set forth by the Qualifying Standards for Mortgage Brokers (QSMB). FCNB developed the QSMB with the assistance of education experts and through extensive industry consultation, ensuring that the standards align with actual practice.

This program has a different focus than the mortgage associate course. It is based on the skills and knowledge required to effectively supervise associates and to ensure the brokerage complies with all applicable rules.

The Program focuses on:

  • Implementing policies and procedures to ensure brokers/associates comply with the Act and Regulations;
  • Supervisory skills;
  • Ethics;
  • Conflict of interest; and
  • Best practices.

Individuals applying for a Mortgage Broker license in New Brunswick must complete this course and pass an in-person exam at an approved testing centre. They must also demonstrate at least 24 months of experience in the last 36.

Take up to six (6) months to complete. Exams must be written in Canada.
There are no shipped materials for this program.


MORE INFORMATION

Please make sure to read the Course and Cancellation Policies and the Learners Code of Conduct prior to registering for the course.

 

This course covers all the key topics, skills and knowledge necessary for you to successfully enter the industry as a mortgage broker. See below for the course syllabus:

MODULE 1: SETTING UP YOUR BROKERAGE

  • The Regulatory Environment
  • Licensing
  • The Role of the Principal Broker
  • Brokerage Models
  • Dealing with the Regulator

MODULE 2: STAFFING AND SUPERVISING YOUR BROKERAGE

  • Recruiting and Hiring Suitable Employees
  • Identifying Key Competencies
  • Supervising, Managing and Coaching
  • Ethical Practice in the Mortgage Industry

MODULE 3: OPERATING YOUR BROKERAGE

  • Creating a Culture of Compliance
  • Creating and Implementing Policies and Procedures
  • Managing and Ensuring Compliance
  • Record Keeping and Reporting Requirements
  • Trust Fund Obligations and Private Investors
  • Understanding Financial Statements
  • Information Security

MODULE 4: DEALING WITH YOUR CUSTOMERS

  • The Duty of Care
  • Identifying Parties to Transactions
  • Disclosures
  • Ensuring Suitability
  • Complaint Handling

MODULE 5: PROTECTING YOUR CUSTOMERS

  • Advertising Standards
  • Fraud Prevention
  • Prohibited Activities


 

 

Got a question? Try browsing our FAQ below for help. If your question is still not answered, please call us at 416-385-2333 x2610 for further assistance!

  1. What is the passing grade?
    60%

  2. What happens if I fail?
    Rewrites are free for scheduled exams at our MPC facilities. However, a fee of $75 would apply if booking an individual exam outside the GTA. You must re-write the exam within 6 months of receiving pass/fail email notification. If you fail a second time, you will need to re-enrol in the course.

  3. How do I book an exam and where can I write it?
    Online learners need to complete their course before an exam date can be booked. Once complete, learners will have access to the BOOK EXAM button on their My Activities page. For full details on examinations and testing sites, please visit our exam info page.

  4. Does the exam cost money?
    Online exams and exams booked at third party test centres cost $75.

  5. How can I request a rewrite and how many rewrites do I get?
    Email exams@mpc.ca to schedule a re-write within 6 months of receiving your grade. Only 1 rewrite is permitted. If you fail the rewrite, re-enrolment would be required to continue with your studies.

  6. When do I get access to my online program?
    Online access is available immediately upon registration. Students can either download their e-textbook from their online course or use the link provided to them in their emailed registration receipt.

  7. Can I place a hold on my course, or transfer my registration to another person?
    No. However, exceptions may be made if requests are submitted to the Education Department by email for review.


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