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Private Mortgages Course

The Private Mortgages Course is approved for licensing as a level 2 mortgage agent by the Financial Services Regulatory Authority of Ontario (FSRA).

Level 2 Mortgage Agent Licensing

The Private Mortgages Course is a new education requirement that mortgage agents must complete in order to upgrade their license to level 2 and be able to deal and trade in mortgages provided by lenders other than financial institutions and CMHC approved lenders under the National Housing Act, such as:

  • mortgage investment companies (MICs)
  • syndicates
  • private individuals
  • agents, brokers, and brokerages

Mortgage agents and brokers must complete this course by March 31, 2024, as part of the Financial Services Regulatory Authority of Ontario's (FSRA) new licensing requirements.

Below is the licensing and experience requirements, effective as of April 1, 2023:

  • Experience: Applicants must have at least 12 months of experience over the last 24 months as a Mortgage Agent Level 1.
  • Licensing Education: successfully complete the Private Mortgages Course
  • Apply for a Mortgage Agent Level 2 licence within two years of successfully completing the approved course


For information on the new licensing requirement transition that begins on April 1, 2023, please visit FSRA's website.

 

Click here for important information on education requirements to renew your licence! 

 

 

Private_Mortgages_Flow_Chart_June_2023_FR

Please review the Course and Cancellation Policies prior to registering.

IN-CLASS

Register for the Private Mortgages Course in-class.

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$299 Members
$349 Non-Members

VIRTUAL CLASS

Register for the Private Mortgages Course virtual class.

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$299 Members
$349 Non-Members

ONLINE

Register for the online Private Mortgages Course.

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$299 Members
$349 Non-Members

For more information on course policies, content and to review frequently asked questions, click on "More Details" for your desired registration option above.

Transition Period

The transition period will take place between April 1, 2023, and March 31, 2024.

 

Individuals with 5 or more years of continuous licensing as of April 1, 2023

 

Mortgage Agents - To transition to mortgage agent level 2, individuals must:

  • complete the Private Mortgages Course by March 31, 2024, OR
  • pass the Private Mortgages Course - Challenge Exam by October 31, 2023 (1 attempt limit)

Mortgage Brokers - To maintain their mortgage broker licence, individuals must:

  • complete the Private Mortgages Course by March 31, 2024, OR
  • pass the Private Mortgages Course - Challenge Exam by October 31, 2023 (1 attempt limit)
  • Brokers who do not meet the new education requirements will transition to the Mortgage Agent Level I licence upon renewal on April 1, 2024, and cannot carry out activities as a Principal Broker.

Individuals with 1 to 5 years of continuous licensing as of April 1, 2023

 

Mortgage Agents - To transition to mortgage agent level 2, individuals must:

  • complete the Private Mortgage Course by March 31, 2024.

Mortgage Brokers - To maintain their mortgage broker licence, individuals must:

  • complete the Private Mortgages Course by March 31, 2024.

 

Individuals with less than 1 year of continuous licensing

 

Mortgage Agents - To transition to Mortgage Agent Level 2 must:

  • attain one year of experience AND
  • complete the Private Mortgages Course

Mortgage Brokers - To maintain their mortgage broker licence, individuals must:

  • complete the Private Mortgages Course by March 31, 2024.
  • Brokers are exempt from attaining two years' experience as an agent, level 2 prior to transitioning to the new broker licence.

FAQ with FSRA

 

Click here to find out details from FSRA's Fireside Chat* regarding the new requirements for licensing in Ontario.

*This discussion took place June 2023 and some of the questions relate to the transition period ending March 31, 2024.

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