Ontario Private Mortgages Course | Mortgage Professionals Canada

Level 2 Mortgage Agent Licensing

The Private Mortgages Course is an 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

Below is a list of eligibility requirements for licensing:

Be 18 years of age or older.
Be a resident of Canada.
Have an Ontario mailing address that can receive registered mail (not a post office box).
Have a valid email address.
Be authorized by a mortgage brokerage to deal in mortgages.
Have already been licensed as a mortgage agent level 1 for at least 12 months over the last 24 months.
Have successfully completed an approved mortgage agent education program for a Mortgage Agent Level 1 licence. For more information, review the mortgage agent level 1 licence requirements.
Have successfully completed an approved education program for a Mortgage Agent Level 2 licence (Private Mortgage Course) within two years before you apply for the mortgage agent level 2 licence.
Be suitable for a licence.

For more details on licensing requirements, please visit FSRA's website.

Please review the Course and Cancellation Policies prior to registering.

IN-CLASS

Register for the Private Mortgages Course in-class.

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$329 Members
$399 Non-Members

VIRTUAL CLASS

Register for the Private Mortgages Course virtual class.

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$329 Members
$399 Non-Members

ONLINE

Register for the online Private Mortgages Course.

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$329 Members
$399 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.