 Licensing & Renewals > Mortgage Brokerage > New to the Industry > Education
The Real Estate Council of Alberta (RECA) takes an active role in the development and delivery of pre-licensing education programs. Individuals who wish to become licensed mortgage brokerage industry members must complete the Mortgage Associates Program (MAP).
MAP is comprised of two courses and each course has a final exam. The first course, The Fundamentals of Mortgage Brokerage, is available online through RECA Education (www.reca.ca). The second course, The Practice of Mortgage Brokerage, is available through the Alberta Mortgage Brokers Association (AMBA) and may be taken online or in the classroom. Completion of all the education requirements and must be done within one year from the date of enrollment in the first course in order to be valid for the purposes of licensing. Note: you must apply for your mortgage licence within one year of completion of your education requirement. Your date of completion is the date of passing the last final exam in the Mortgage Associates Program.
Completing MAP
The Fundamentals of Mortgage Brokerage provides learners throughout the province with easy and convenient access to mortgage brokerage pre-licensing education. The online course covers a wide range of information related to the mortgage brokerage industry and trading in mortgages as an industry member in Alberta. The Fundamentals of Mortgage Brokerage course also provides the foundational information needed to prepare learners for The Practice of Mortgage Brokerage course and ultimately for their role as a mortgage brokerage industry member. The Practice of Mortgage Brokerage provides learners with the opportunity to apply their knowledge to practical scenarios in order to assist them in developing work-ready competencies.
Each course concludes with a final exam which has a minimum required score of 70% to pass. Once learners have successfully completed the first MAP course and exam, they will be able to enroll in the second course. The second course also has a final exam with a minimum required score of 70% to pass. The final exams are delivered through authorized exam centres located throughout the province.
The fee for The Fundamentals of Mortgage Brokerage course is $1500, which includes the online course, the course manual and one exam. Exam proctoring fees are the responsibility of the learner. Payment for the course must be made at the time you enroll. For information regarding the cost of The Practice of Mortgage Brokerage, please refer to the AMBA website (www.amba.ca).
Enrolling in MAP
To enroll in MAP, you must be eligible to do so. Full details on how to become eligible are covered in RECA’s Eligibility Guidelines, which can be found here.
For additional information on the licensing process, certified criminal record check and suitability issues click on the links below.
Licensing Process
Certified Criminal Record Check
Suitability
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