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Information on Unlicensed Assistants
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Unlicensed Assistants
Licensees who provide mortgage services in British Columbia must comply with the requirements set out in the Mortgage Services Act (“MSA”), Mortgage Services Regulation (“Regulation”), and Mortgage Services Rules (“Rules”). Unlicensed assistants may not perform any activities that are defined as mortgage services under the MSA. Any activity that falls within the statutory definition of mortgage services requires a licence, and unlicensed individuals are strictly prohibited from performing those tasks.
If a licensee employs or engages an assistant, that licensee is responsible for ensuring that the assistant does not engage in any MSA-regulated activities. This responsibility includes proper supervision and clear delegation of tasks. Compensating an unlicensed assistant for work that requires a licence constitutes a breach of the MSA and may lead to enforcement action against the licensee.
More information on licensee duties can be found on BCFSA’s Mortgage Services Knowledge Base.
Additional Information
Further guidance on unlicensed assistants will be forthcoming on BCFSA’s Mortgage Services Knowledge Base. In the interim, questions can be directed to msa@bcfsa.ca.
Applicable Section of Mortgage Services Act, its Regulations, or the Mortgage Services Rules
MSA
s. 3 [Requirement for licence to provide mortgage services]