Once licensed, an associate may wish to become a broker. A mortgage broker’s responsibilities, outlined in the Real Estate Act and Rules, are different than those of an associate and require additional experience.
Associates who wish to become licensed and registered as brokers must:
- successfully complete the Mortgage Associates’ Program or equivalent education in the opinion of the executive director; and,
- have been registered for at least two years as a mortgage associate within the preceding five years of the date of the application.
Additionally, as each brokerage can only have one licensed broker, individuals who wish to license and register as brokers must either open their own brokerage or transfer to a brokerage that has a broker who is leaving. For more information about the process of opening a brokerage, please click here.