Nova Scotia Mortgage Broker Education Program

ova Scotia Mortgage Broker Education Program

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Description

The Nova Scotia Mortgage Broker Education Program is the required course to becoming a licensed mortgage broker in Nova Scotia. This is the only approved course for licensing as a mortgage broker by the Service Nova Scotia and Internal Services (SNS-IS). The Nova Scotia Mortgage Broker Education Program is designed in line with the SNS requirements. The program was developed with the assistance of education experts and through extensive industry consultation, ensuring that the curriculum aligns with actual practice.

Additional licensing requirements for Nova Scotia Mortgage Brokers and Associate Mortgage Brokers are available via the Mortgage Regulation Act website.

The Nova Scotia Mortgage Broker Education Program has a different focus than the associate mortgage broker course – it is based on the skills and knowledge required to effectively supervise associate mortgage brokers 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!

For the best user experience, a desktop or laptop is recommended.

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Course Policies

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

Students must complete the online modules and final exam within 6 months of their original registration date. Course extensions may be purchased, if required.

Course Content

This program covers 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 MORTGAGE BROKERAGE

The Regulatory Environment
Licensing
The Role of the Principal Broker
Mortgage Brokerage Business Models
Dealing with the Registrar

MODULE 2: STAFFING AND SUPERVISING YOUR MORTGAGE BROKERAGE

Recruiting and Hiring Suitable Employees
Identifying Key Competencies
Supervising, Managing, and Coaching
Ethical Practice in the Mortgage Industry

MODULE 3: OPERATING YOUR MORTGAGE 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
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

FAQ

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?
60%
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-enrol 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. When ready, please email the Exams Department to request an individual sitting at [email protected]
Does the exam cost money?
Online exams cost $75 and the in-person exam fee is $100.
How can I request a rewrite and how many rewrites do I get?
Email [email protected] 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.
When will my textbook arrive?
In-class students receive their textbook 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.
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).
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
How long does it take to get exams results?
Exam results are emailed within 5 business days of your exam date. Upon receiving your results, you can download your certificate under “My Activities”.