Mortgage Services Act Transition and Industry Engagement

BCFSA is actively engaging with industry representatives to support the implementation of the new Mortgage Services Act (MSA).

To inform this work, BCFSA established a Technical Working Group composed of mortgage services industry professionals and association representatives. This group provides valuable insights into how the new framework will impact the sector and helps identify opportunities to refine the transition approach.

The MSA introduces significant changes to the regulation of mortgage services in British Columbia. BCFSA is leading the transition from the current Mortgage Brokers Act (MBA) to the MSA and is committed to supporting industry participants as they prepare for the new regulatory framework.

Background

On July 14, 2025, the Province of British Columbia approved the regulations that accompany the MSA. This marked the start of a 15-month transition period, allowing mortgage services registrants time to prepare for the upcoming changes.

During this transition period, the MBA remains in force. Mortgage services registrants must continue to comply with all existing MBA requirements until October 13, 2026, when the MSA comes into force, repealing and replacing the MBA.

For more information on what this transition means for you, please visit the MSA Transition page.

Technical Group Members

• Marci Deane, Canadian Mortgage Brokers Association – British Columbia (CMBA-BC)
• Carla Giles, Canadian Mortgage Brokers Association – British Columbia (CMBA-BC)
• Mary Gronkowski, Dominion Lending Centres
• Shannon Hillman, Canadian Alternative Mortgage Lenders Association (CAMLA)
• Ryan Lee, British Columbia MIC Managers Association (BCMMA)
• Russell Morrison, Mortgage Professionals Canada (MPC)
• Scott Musselman, Mortgage Architects
• Justin Noda, Dominion Lending Centres - A Better Way
• Dan Pultr, The Mortgage Group
• Jasmine Toor, Mortgage Professionals Canada (MPC)
• Lauren van den Berg, Mortgage Professionals Canada (MPC)

BCFSA is committed to an open, transparent, and collaborative approach to engagement. We seek to involve a broad range of perspectives to help inform regulatory guidance and initiatives.

We thank the members of the Technical Working Group for their ongoing contributions and dedication to supporting a smooth and effective transition to the new MSA.