Ontario Mortgage Licensing Equivalency Course
Mortgage Professionals Canada (MPC) is proud to be your education provider of the Ontario Mortgage Licensing Equivalency Course. This course is an education requirement for out-of-province licensed applicants applying for a mortgage Agent/Broker licence in Ontario. The course will focus on competencies that are Ontario-specific to ensure out-of-province applicants have knowledge of the requirements included in the Mortgage Brokerages, Lenders and Administrators Act, 2006 (MBLAA), its regulations and FSRA’s guidance and rules that differ from other jurisdictions.
The online course takes 2 hours to complete and is followed by a 30 minute final exam comprised of 20 multiple-choice questions. The passing grade is 70%.
Upon completion of the course and quiz, out-of-province applicants will be able to demonstrate knowledge of the requirements to practice the mortgage broker/agent occupation in Ontario. Specifically, they will be able to:
- Explain the legal and regulatory framework that applies to mortgage brokering in Ontario;
- Differentiate between mortgage brokerage/broker/agent/administrator in Ontario; and
- Apply the requirements (including standards of practice) applicable to mortgage brokering in Ontario