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Education



Getting Licensed in Newfoundland and Labrador

THE COURSE

The Newfoundland and Labrador Mortgage Broker Course contains information specific to Newfoundland and Labrador’s legislation, land registration and business practices. Although this course is not yet required for licensing, it is strongly advised that individual’s wishing to become a mortgage broker complete this program to learn industry basics, and legislative requirements for conducting mortgage brokering business in Newfoundland. The course is based on the 6th edition textbook Introduction to the Canadian Mortgage Industry.

The course covers all the key mortgage broker topics, skills and knowledge necessary for you to successfully enter the industry as a broker. The broker course is roughly 40 hours online with a final in-person examination. Exam rewrites are available for those students who require it.


REGISTER FOR THE ONLINE COURSE (SELECT OPTION):


FREE BONUS OFFER!

Mortgage Professionals Canada's Virtual New Agent Symposium brings together speakers and mentors to help support newcomers to the mortgage industry as well as individuals looking to brush up on mortgage basics.

This offer is only available to MPC students who are registered in an introductory licensing course. Students will automatically receive an emailed invitation to attend the next scheduled Virtual New Agent Symposium for free!





MORE INFORMATION

Course Policy Course Content Getting Licensed FAQ

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

Course and Cancellation Policies

Learners Code of Conduct

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:


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 - Appraisals
  • Module 10 - The Closing Process
PART 4: PROTECTING CONSUMERS & INCREASING INDUSTRY PROFESSIONALISM
  • Module 11 - Protecting Consumers & Increasing Industry Professionalism

 

To apply for registration as a mortgage broker with Service NL, Government of Newfoundland and Labrador you must: 

  1. Be a resident of Canada.
  2. Have a mailing address in Newfoundland and Labrador.
  3. Register for a license (education not currently required for registration in NL).


For more detailed information, please visit Service NL, Government of Newfoundland and Labrador's licensing requirements page.

    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 or booking an online exam. 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 cost $75. In-person exams cost $100.

    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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