Education

Getting Licensed in New Brunswick

The New Brunswick Mortgage Associate Course and the New Brunswick Mortgage Broker Education Program are the only required courses for licensing by the Financial and Consumer Services Commission (FCNB).

Both courses are offered in an online format and take roughly 40-60 hours to complete. Each have a final in-person examination


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Mortgage Associate Course

The New Brunswick Mortgage Associate Course is the first and only entry level provincial licensing course approved by FCNB for New Brunswick. This course is delivered in an online format and comes equipped with an electronic version of the 5th edition textbook Introduction to the Canadian Mortgage Industry.

The course contains province specific information on regulations, legislation, and business practices. The program was developed through extensive industry consultation, with the assistance of education experts.


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Mortgage Broker Education Program

The New Brunswick Mortgage Broker Education Program is the required course to becoming a licensed mortgage broker in New Brunswick. This is the only approved course for licensing as a mortgage broker by the Financial and Consumer Services Commission (FCNB). The Mortgage Broker Education Program is designed in line with the FCNB requirements. The program was developed with the assistance of education experts and through extensive industry consultation, ensuring that the curriculum aligns with actual practice.

Completion of the New Brunswick Mortgage Associate Course is required prior to taking this course.

The New Brunswick Mortgage Broker Education Program has a different focus than the associate program above – it is based on the skills and knowledge required to effectively supervise associates and to ensure that the brokerage complies with all applicable rules. Upon completion of the program, you will be able to successfully operate and open your very own brokerage!


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Please make sure to read the Course and Cancellation Policies documents for each course below before registering:




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


PART 1: THE MORTGAGE INDUSTRY IN PERSPECTIVE

  • Module 1 - Overview of the Industry
  • Module 2 - Regulatory Framework
  • Module 3 - Legal Overview
PART 2: MORTGAGE MATHEMATICS
  • Module 4 - Mortgage Mathematics
PART 3: THE MORTGAGE PROCESS FROM A-Z
  • Module 5 - Understanding The Mortgage Process
  • Module 6 - Completing The Mortgage Application
  • Module 7 - Qualifying The Borrower
  • Module 8 - Mortgage Products, Related Products, And Submitting The Application
  • Module 9 - Valuing The Property And The Decision To Lend
  • Module 10 - The Closing Process
PART 4: PROTECTING CONSUMERS & INCREASING INDUSTRY PROFESSIONALISM
  • Module 11 - Protecting Consumers & Increasing Industry Professionalism

 

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-enroll 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. When ready, please email the Exams Department to request an individual sitting at exams@mortgageproscan.ca.

  4. Does the exam cost money?
    Outside of GTA exams booked at third party test centres cost $75+applicable taxes.

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

  6. How do I request an exam deferral?
    Exam deferrals are permitted, though strongly discouraged, as students are more successful on their final exam when course information is still fresh. However, should you require a deferral due to stress, a medical issue, or for personal reasons, please be sure receive official approval from the Education Department for an exam deferral by emailing exams@mortgageproscan.ca. Approval for an exam deferral must be finalized prior to your scheduled exam date.

  7. When will my textbook arrive?
    In-class students receive their text book on the first day of class. A link to the e-textbook is provided in the registration confirmation email sent by the Education Department. Online students receive their textbook within 5 business days via FEDEX.

  8. 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 registration email (welcome email).

  9. When will my course certificate arrive?
    Certificates will arrive by Canada Post 2-3 weeks of receiving pass notification.

  10. 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.