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Mortgage Services Forms
Forms
MSA disclosure forms: Overview
Under the Mortgage Services Act (MSA), mortgage brokers, including principal brokers, have several key disclosure obligations. Mortgage brokers are required to give borrowers and lenders clear information at specific points in the process so they can make informed decisions. This includes ensuring they understand the role and responsibilities of the broker, how the broker is paid, the suitability of the mortgage, and the risks involved.
Some disclosures must be made using prescribed forms, where BCFSA requires the use of standard forms established by the Mortgage Services Rules under the MSA. If a form is prescribed, you must use it. You cannot change or customize it, even if you are integrating it into software. The form must be the same version published by BCFSA.
If there is no prescribed form, you still need to provide the required disclosure. In these cases, you can either use an optional BCFSA form or provide the information in another format that works for your business.
For additional detailed information about disclosure requirements, see Understanding disclosure requirements under the MSA.
Software application providers who use BCFSA’s MSA disclosure forms must comply with the BCFSA Forms and Clauses Terms of Use for Software Application Providers.
Downloading forms: BCFSA is aware of an issue with MSA disclosure forms downloaded through Microsoft Edge. For best results, download MSA disclosure forms using Google Chrome or another browser, as Microsoft Edge may affect fillable form functionality.
MSA disclosure forms for borrowers
The purpose of this form is to confirm who the broker represents so there is no confusion. This form should be provided before providing services.
Download form 1A: Disclosure of representation to borrower (will open in a new tab)The purpose of this form is to explain to the borrower that they are not being represented and explains risks clearly. This form should be provided before providing services.
Download form 2A: Disclosure of risks to unrepresented borrower (will open in a new tab)The purpose of this from is to clearly flag any competing interests in a standardized and clear format. This form should be provided at the earliest opportunity; at least two business days before signing of entering into agreement.
Download form 3A: Disclosure of interests to borrower (will open in a new tab)The purpose of this form is to provide a standardized format so borrowers can easily understand how the broker is paid. This form should be provided when presenting options.
Download form 4: Disclosure to borrower of expected remuneration (will open in a new tab)The purpose of this form is to explain the risks and how the mortgage or mortgage transaction fits the potential borrower’s needs. This form should be provided when presenting options.
Download form 6A: Disclosure of suitability and material risks to borrower (will open in a new tab)The purpose of this form is to provide a standardized format so borrowers can easily understand how the broker is paid. This form should be provided promptly.
Download form 7: Disclosure to client of remuneration (will open in a new tab)The purpose of this form is to explain the risks of dual agency to borrowers and lenders. This form should be provided before providing mortgage services as a dual agent.
Download form 8: Disclosure of the risks of dual agency (will open in a new tab)The purpose of this form is to document a conflict of interest involving multiple clients, describe the options available for proceeding with the transaction, and confirm the agreed-upon course of action. This form should be provided before providing mortgage services.
Download form 9: Agreement regarding conflict of interest between clients (will open in a new tab)The purpose of these form packages is to explain to the borrower, in a simplified process, the risks regarding the transaction, remuneration, and any interests.
- Disclosure to represented borrowers (forms package #1) is for borrowers you represent as a client (i.e., the borrower is your client)
- Disclosure to unrepresented borrowers (forms package #3) is for borrowers you do not represent as a client (i.e., the borrower is not your client because you represent a lender)
MSA disclosure forms for lenders
The purpose of this form is to confirm who the broker represents so there is no confusion from the outset. This from should be provided before providing services.
Download form 1B (for lending): Disclosure of representation to lender (will open in a new tab) Download form 1C (for trading): Disclosure of representation to lender (will open in a new tab)The purpose of this form is to explain to the lender that they are not being represented and outlines risks clearly. This form should be provided before providing services.
Download form 2B (for lending): Disclosure of risks to unrepresented lender (will open in a new tab) Download form 2C (for trading): Disclosure of risks to unrepresented lender (will open in a new tab)The purpose of this form is to clearly flag any competing interests in a standardized and clear format. This form should be provided at required points when offers are delivered.
Download form 3B: Disclosure of interests to lender (will open in a new tab)The purpose of this from is to provide key details the lender must understand before committing funds. This form should be provided before the release/advance of funds.
Download form 5: Disclosure of information statement to lender (will open in a new tab)The purpose of this from is to provide key details the lender must understand before committing funds. This form should be provided before the release/advance of funds.
Download form 5A: Addendum for construction and development mortgages (will open in a new tab)The purpose of this form is to explain key risks so the lender understands the transaction before proceeding. This form should be provided when presenting options.
Download form 6B: Disclosure of suitability and material risks to lender (will open in a new tab)The purpose of this form is to ensure transparency about how the broker is paid. This form should be provided promptly.
Download form 7: Disclosure to client of remuneration (will open in a new tab)The purpose of this form is to explain the risks of dual agency to borrowers and lenders. This form should be provided before providing mortgage services as a dual agent.
Download form 8: Disclosure of the risks of dual agency (will open in a new tab)The purpose of this form is to document a conflict of interest involving multiple clients, describe the options available for proceeding with the transaction, and confirm the agreed-upon course of action. This form should be provided before providing mortgage services.
Download form 9: Agreement regarding conflict of interest between clients (will open in a new tab)The purpose of these form packages is to explain to the lender, in a simplified process, details about the transaction, risks, remuneration, and any interests.
- Disclosure to represented lenders (forms package #2) is for lenders you represent (i.e., the lender is your client)
- Disclosure to unrepresented lenders (forms package #4) is for lenders you do not represent (i.e., the lender is not your client)
MSA licensing forms
This form is used by Principal Brokers to apply for BCFSA authorization to be licensed in relation to more than four related brokerages or brokerage offices, where required criteria and risk-based assessment factors are met.