Ontario Mortgage Broker Education Program

The Ontario Mortgage Broker Education Program is approved for licensing as a mortgage broker by the Financial Services Regulatory Authority of Ontario (FSRA).

Phase I

The two-phased format of the Ontario Mortgage Broker Education Program (OMBEP) is prescribed by FSRA. The program focuses on the skills and knowledge required to hire and effectively supervise agents and to ensure that the brokerage complies with the Mortgage Brokerages, Lenders and Administrators Act, 2006, its Regulations, and prescribed requirements. It is also designed to meet both the Mortgage Broker Qualifying Standards (MBQS) and MBRCC's Managing Broker Program Competencies and Curriculum.

OMBEP includes information on:

Understanding the regulatory environment and the importance of promoting a collaborative relationship with the Regulator
Implementing policies and procedures to ensure agents comply with the Act, its Regulations, and prescribed requirements
Determining whether staff are acting ethically or unethically and determining the most appropriate action to take
Dealing with, and protecting, clients
Creating and implementing best practices

If you wish to become a licensed mortgage broker in Ontario, you must:

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.
Complete 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 already been licensed as a mortgage agent level 2 for at least 24 months over the last 36 months.
Complete an approved education program for a Mortgage Agent Level 2 licence. For more information, review the mortgage agent level 2 licence requirements.
Complete the approved mortgage broker education program within three years before you apply for the mortgage broker licence.
Pass the private mortgage course.
Be suitable for a licence.

For more information on full broker licensing requirements, please visit FSRA's website.

Please review the Course and Cancellation Policies prior to registering.

PHASE I ONLINE

More Details

$495

For more information on course policies, content and to review frequently asked questions, click on "More Details" for your desired registration option above.

Important note about new licensing requirements

After April 1, 2023, individuals can apply for a mortgage broker licence if they have been licensed for a total of at least 24 of the last 36 months as a mortgage agent (agent level 1 or agent level 2) before applying for the broker licence.

Individuals will need to confirm that they have successfully completed the Ontario Mortgage Broker Education Program in the three years before applying for the mortgage broker licence as well as the Private Mortgages Course by March 31, 2024.

Visit FSRA's website for more information.

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.