Getting Licensed in Newfoundland and Labrador
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 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):
Virtual Exam(s) are now available for this course. Enjoy a safe, physically distanced testing experience, in a comfortable setting of your choosing. Please note, Virtual Exams are offered in English only.
Please make sure to read the Course and Cancellation Policies document before registering for the course.
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
PART 2: MORTGAGE MATHEMATICS
- Module 1 - Overview of the Industry
- Module 2 - Regulatory Framework
- Module 3 - Legal Overview
PART 3: THE MORTGAGE PROCESS FROM A-Z
- Module 4 - Mortgage Mathematics
PART 4: PROTECTING CONSUMERS & INCREASING INDUSTRY PROFESSIONALISM
- 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
- Module 11 - Protecting Consumers & Increasing Industry Professionalism
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!
- What is the passing grade?
- 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-enroll in the course.
- 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.
- Does the exam cost money?
Outside of GTA exams booked at third party test centres and online exam bookings cost $75+applicable taxes.
- How can I request a rewrite and how many rewrites do I get?
Email email@example.com 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.
- 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.
- When will my course certificate arrive?
Certificates will arrive by Canada Post 2-3 weeks of receiving pass notification.
- 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.