 Licensing & Renewals > Mortgage Brokerage > Transfer
An associate or may transfer from one brokerage to another as a result of their own request or as a result of being terminated by their current broker.
If a mortgage industry member personally requests to terminate from their current brokerage and become registered with a new brokerage, he or she must provide written notification to their current brokerage that they are terminating their relationship. It is incumbent on the terminating industry member to ensure that the written notice is delivered to the appropriate representative of the brokerage, preferably the broker.
If a broker is terminating an industry member registered with his or her brokerage, the broker must provide written notification to the industry member being terminated that they are terminating their relationship.
RECA has developed Associate/Associate Broker Registration Cancellation forms to assist in terminating an associate from a brokerage. Please note: if it is the broker terminating the associate, the broker needs to complete the Associate/Associate Broker Registration Cancellation by Broker or Broker Delegate. If the associate is terminating as a result of their own request, he or she is to complete the Associate/Associate Broker Registration Cancellation by Associate/Associate Broker.
The termination can be processed by either the industry member’s current broker or new broker (at the brokerage to which he or she is transferring). There is a fee for transferring to another brokerage. Please see the current fee schedule (hyperlink to form).
If the current broker terminates the industry member’s registration, that broker is required to report to the executive director any misconduct relating to fraud, misrepresentation, deception, theft, or unlawful activities on the part of the associate. If the new broker processes the termination, that new broker is expected to verify with the industry member that he or she has provided written notice to their previous broker of the cancellation.
Once the cancellation form has been completed and processed, the industry member is to complete the Associate/Associate Broker Application for Registration form, the broker of the brokerage to which he or she is transferring will process the form using the RECA Online system.
NOTE: Brokers can only process transfers for industry members using the RECA Online system when the industry member in question has answered “NO” to all of the questions in section C – Information Respecting Suitability – of the completed application for registration form. If there are any “YES” answers on the completed application for registration form, both the cancellation form and the application for registration form must be forwarded to RECA for processing along with documentation to support the positive suitability response.
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