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Licensing
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Licensees can manage licensing information through the IRIS Portal including surrendering a licence, changes to brokerage details, changes to directors and renewals.
The Mortgage Services Knowledge Base provides licensing information and information about disclosure forms, while application forms, and annual filing forms and declarations are available through the IRIS Portal.
For mortgage transactions that cross provincial borders, the Mortgage Broker Regulators´ Council of Canada has launched a Licensing Information Tool to help licensees better understand the registration and licensing requirements for mortgage transactions (based on the location of the borrower, broker, and property).
To verify British Columbia’s licensing requirements call (604) 660-3555 or (866) 206-3030 Toll-Free, or email mortgagebrokers@bcfsa.ca.
IRIS Portal
The IRIS Portal is an electronic licensing system which will enable currently licensed mortgage broker licensees to:
- Transfer in mortgage brokers from another mortgage brokerage or between branch offices;
- Surrender mortgage broker licences;
- Amend the information (such as an email address or telephone number) of a mortgage brokerage, including branch office, and mortgage broker or principal broker licences;
- Add new directors or terminate current directors;
- Renew a licence.
Mortgage broker renewal of licensing education requirements
Licensing under the Mortgage Services Act is valid two years, and licensing must be renewed for additional two year periods at least 30 days prior to licence expiry.
If a person would like to provide mortgage services in B.C. or in relation to a property located in B.C., they are required to be licensed under the MSA, unless a licensing exemption applies. No matter what kind of corporate structure a mortgage brokerage has, anyone carrying on the business of providing mortgage services must have a licence, unless they are exempted.
Visit Information on licensing levels and categories for more information about licensing requirements under the MSA.
To apply for a new licence, or to renew, amend, or reinstate a licence, a person must provide the required information and records, and pay the prescribed fees. If a person’s licence is inactive or suspended, the Superintendent may allow them to apply for reinstatement instead of getting a new licence. The Superintendent can also refuse to accept a person’s application until they pay any amount owed to BCFSA.
View the following pages for more information about obtaining a licence under the MSA:
Licensing applications can be submitted via BCFSA’s IRIS Portal.