The Registrar of Mortgage Brokers in British Columbia has approved Mortgage Professionals Canada's Avoiding Unconscionable Transactions online module as a component of mandatory continuing education for mortgage brokers at registration renewal or reinstatement.
It is important for mortgage and submortgage brokers to keep current with regulatory changes, legislative amendments, new compliance issues, risk reduction techniques, and emerging issues affecting industry members and consumers. This online module focuses on providing a better understanding of unconscionable acts or practices including:
- defining terminology and identifying examples of unconscionable acts or practices
- describing circumstances used to determine if an act or practice is unconscionable
- identifying remedies and regulatory orders that may be ordered by a court under the BPCPA
- identifying options available to the Registrar in cases of non-compliance
- describing circumstances that may lead to unconscionable acts or practices
- identifying how unconscionable acts or practices fit into the larger context of the MBA and BPCPA
Students are permitted to complete this approved module for licence renewal with BCFSA once. Do not register into this course if you have already reported completion of this module to B.C. provincial regulators during a previous licence renewal period. For more information on B.C. continuing education requirements for mortgage brokers and submortgage brokers, refer to the website of the Registrar of Mortgage Brokers at BCFSA.
Online course access is available for six months.