Printed . This content is updated regularly, please refer back to https://bcfsa.ca to ensure that you are relying on the most up-to-date resources.
Mortgage Services Act: Fees
Select the section you’d like to navigate to.
Accordion items
-
Go to Fee Scenarios
- Scenario 1: Brokerage Change of Business Address
- Scenario 2: Mortgage Broker with One Category
- Scenario 3: Category Changes
- Scenario 4: Brokerage with Multiple Branches
- Scenario 5: Principal Broker Licence Renewal
- Scenario 6: Principal Broker Paying Brokerage Fees
- Scenario 7: Mortgage Brokers Act Registrant Transitioning to Become a Mortgage Services Act Licensee
- Scenario 8: Personal Mortgage Corporation
-
Go to MSA Fees FAQs
- Why are mortgage broker fees increasing?
- Why does BCFSA need to charge fees?
- Why are fees under the MSA higher compared to fees charged under the MBA?
- When will I need to pay these new fees?
- Are fees refundable?
- I’ve just renewed my registration and paid the registration fee. Will I need to pay again to become licensed when the MSA comes into force?
- How do I pay fees?
Fees Under the MSA
BC Financial Services Authority (“BCFSA”) is required to charge fees to cover the costs of implementing and administering the new regulatory regime under the Mortgage Services Act (“MSA”). These new rules will increase oversight of the mortgage services industry and enhance consumer protection.
To support these new rules, BCFSA must charge fees to effectively regulate the mortgage services industry and provide these enhanced services to better protect consumers. These fees are used to support the development of education, licensing and suitability assessments, proactive compliance and examinations activities, and enforcement.
The fee schedule under the current Mortgage Brokers Act (“MBA”) will stay in place until the MSA comes into force on October 13, 2026. Once in force, the MSA fee schedule will apply to both new licensees and renewing licensees. Therefore, any licensees renewing their license on or after October 13, 2026, will be charged the new MSA fees.
Licensing application and renewal application fees include one category of mortgage services. If applicants or licensees would like to provide more than one category of mortgage services, there is an additional cost per category (see the licence fee tables below).
MSA Fee Schedule
The table below outlines the MSA fee structure. Fees include non-refundable application fees and refundable licence fees for issuing, renewing, amending, or reinstating a licence.
Individual Licence Fees
| Type of Application | Fee |
|---|---|
| Licensing Application – Mortgage Broker | $2,100 |
| Licensing Application – Principal Broker | $2,100 |
| Additional Category Licence Fee (per category) | $500 |
| Licence Renewal Application | $2,000 |
| Late Licence Renewal Application | $2,100 |
| Licence Transfer or Reinstatement Application | $300 |
| Amendments (i.e., change of business address, change of name, etc.) | $250 |
| Category Licence Removal (per category) | $200 |
Brokerage Licence Fees
| Type of Application | Fee |
|---|---|
| Licensing Application – Brokerage | $3,100 |
| Licensing Application – Branch | $3,100 |
| Additional Category Licence Fee (per category) | $1,000 |
| Licence Renewal Application | $3,000 |
| Late Licence Renewal Application | $3,100 |
| Reinstatement Application | $300 |
| Amendments (i.e., change of principal broker, etc.) | $250 |
| Category Licence Removal (per category) | $500 |
Personal Mortgage Corporation Fees
| Type of Application | Fee |
|---|---|
| Licensing Application – Personal Mortgage Corporation | $2,100 |
| Additional Category Licence Fee (per additional category) | $500 |
| Licence Renewal Application | $2,000 |
| Late Licence Renewal Application | $2,100 |
| Reinstatement Application | $300 |
| Amendments (i.e., change of business address, change of name, etc.) | $250 |
| Category Licence Removal (per category) | $200 |
Teams Fees (Effective April 1, 2027)
| Type of Application | Fee |
|---|---|
| Mortgage Services Team Application (per individual) | $50 |
| Team Amendments (i.e., all members move to a new brokerage) (per individual) | $50 |
| Change of Team Name | $50 |
| Adding or Removing Team Member (per individual) | $50 |
Fee Scenarios
The fictional scenarios below are intended to help mortgage services professionals understand the application of MSA fees.
Context: North Star Mortgage Brokerage employs 214 mortgage services licensees, including several principal brokers. North Star has moved its business location and wishes to change its address for the brokerage and all licensees under it.
Fees: A business address change must be reported promptly to BCFSA. To do this, North Star applied to amend its licence and paid the associated $250 fee. The total cost for this change is $250. It will only be charged at the brokerage level but will also apply to all licensees under the brokerage.
Context: Shamira would like to become a mortgage broker who only provides the service of dealing in mortgages, often referred to as origination. Shamira has completed all educational requirements and would like to apply for a first-time licence.
Fees: Shamira will need to apply for a first-time mortgage broker licence and pay the associated $2,100 fee. As one category of service is included in the first-time licence application fee, Shamira does not need to pay for an additional category.
Context: Alistair is a mortgage broker who is licensed for two categories of mortgage services, (1) dealing in mortgages and (2) trading in mortgages. Alistair’s licence is in good standing and is valid for another nine months. However, he has decided to remove his trading in mortgages licence category and add the category of administering mortgages. Alistair has ensured that he meets all the qualifications (e.g., education requirements) to qualify for the administering mortgages licence category.
Fees: The fee to add a category to one’s licence is $500 for an individual broker. The fee to remove a category from one’s licence is $200 for an individual broker. So, Alistair will be paying $200 + $500 = $700. These fees are separate from his licensing renewal fees which he will be required to pay when his licence comes up for renewal in nine months.
Context: Canucks Mortgage Brokerage has a head office and three branch offices, all of which provide the same single category of mortgage services. The brokerage’s licenses are up for renewal which includes the brokerage head office and each of its three branch offices.
Fees: The fee for a mortgage brokerage renewal is $3,000. It is the same cost for each branch office. This means that Canucks Mortgage Brokerage will be paying a total of $12,000, broken down as follows:
- Head office licence renewal ($3,000) + Branch office A’s renewal ($3,000) + Branch office B’s renewal ($3,000) + Branch office C’s renewal ($3,000) = $12,000.
Context: Sally is a Principal Broker for two related mortgage brokerages – Vancouver Mortgage Brokerage and West Side Mortgage Brokerage. At Vancouver Mortgage Brokerage, she is licensed in two categories, (1) dealing in mortgages and (2) trading in mortgages. At West Side Mortgage Brokerage, she’s also licensed in the same two categories.
Fees:
Initial Application
The first-time licence application fee for an individual broker (including a Principal Broker) is $2,100. Since Sally is licensed with two brokerages, Sally must pay for each licence separately. A new licence application includes one category; so, Sally will need to pay for the second category under each of her licenses. This means Sally’s total initial application fees are: $2,100 + $500 + $2,100 + $500 = $5,200.Renewal
The fee for an individual broker (including a Principal Broker) to renew their licence is $2,000 plus the cost of any additional categories of service above one category (i.e., $500 per additional licence category). Since Sally is licensed as a Principal Broker at two brokerages and in two categories of mortgages for each brokerage, she must renew her licence at both brokerages. Sally will be paying $5,000 for licence renewal (i.e., $2,000 + $500 + $2,000 + $500).Context: Gurneet wants to start her own mortgage brokerage and be the Principal Broker of that brokerage. She only wants to provide the service of dealing in mortgages, often referred to as origination. Gurneet meets all the relevant qualifications and is applying for both a first-time brokerage licence and a first-time Principal Broker licence.
Fees: The fee for an initial Principal Broker licence is $2,100. The fee for an initial brokerage licence is $3,100. Both the Principal Broker and brokerage licence fees include one category of service; so, Gurneet does not need to pay for an additional category. In total, Gurneet will pay $5,200 for both a Principal Broker licence and a brokerage licence.
Context: Lei was a registered submortgage broker under the Mortgage Brokers Act. However, the Mortgage Services Act came into force, and now Lei is unsure if he is required to pay the new fees to become a mortgage broker under the Mortgage Services Act. He renewed his licence 16 months ago, so he is still within his two-year licensing term. He only provides one category of service – dealing in mortgages.
Fees: Since Lei is still within his two-year licensing term, he will not need to pay any additional licensing fees to transition to the Mortgage Services Act. Once his licence comes up for renewal, Lei will be required to pay the mortgage broker licensing renewal fee of $2,000. He does not need to pay for an additional category of service, because one category is included in the mortgage broker licensing renewal fee.
Note that to transition to a mortgage broker licence under the Mortgage Services Act, Lei is required to successfully complete the required MSA transition education before October 13, 2026, when the new Act comes into effect. Visit the MSA Education webpage for more information.
Context: Ahmed would like to apply for first-time licensure as a mortgage broker and have his brokerage flow his remuneration through a personal mortgage corporation. He only wants to provide one category of service – trading in mortgages.
Fees: Ahmed will need to apply for a first-time licence and pay the associated $2,100 fee. Ahmed will also need to apply for a first-time personal mortgage corporation licence and pay the associated $2,100 fee. In total, Ahmed will need to pay $4,200 for both licenses.
MSA Fees FAQs
*This information will be updated as new information becomes available.
BCFSA is required to charge new fees to cover the costs of implementing and administering the new regulatory regime, which will increase oversight of the mortgage services industry and enhance consumer protection.
BCFSA is an industry-funded Crown agency and does not receive government funding to regulate the mortgage services industry. BCFSA must charge fees so it can effectively regulate the mortgage services industry in accordance with the MSA, and the enhanced services and regulatory activities that it brings.
The MSA brings in a new set of rules with substantial oversight requirements aimed at protecting consumers, including new and improved disclosure requirements, higher suitability standards, and increased enforcement and monitoring.
The fee schedule under the current Mortgage Brokers Act applies until the MSA comes into force on October 13, 2026. After this date, MSA fee schedule will apply to all licensees, so anyone renewing their license will be charged the new MSA fees.
Most of the licensure fees (see licence fee tables) are comprised of smaller non-refundable application fee and a larger refundable licence fee. The refundable portion will be returned to the applicant if they withdraw their application before their licence is issued by BCFSA, or if their application does not successfully pass the review process and is not issued.
Licence fees are not refundable after a licence has been issued.
No. You will only need to pay the licensing fee according to your licence (formerly registration) renewal cycle.
Example scenario:
The MSA will come into force on October 13, 2026. Your registration under the Mortgage Brokers Act is due to expire on June 26, 2026. You would submit your application to renew your registration prior to June 26, 2026 and pay the applicable fee according to the fee schedule under the current Mortgage Brokers Act. When the MSA comes into force, if you have completed the education courses and any other transition activities required to qualify for a licence under the MSA, your registration would be transferred to a licence at no cost. In June 2028, when your licence is due for renewal, you would submit your licence renewal application and pay the licensing fee according to the MSA fee schedule.
The process for paying fees will remain the same as it was under the MBA. More information about paying fees is available on the Mortgage Broker Fee Schedule webpage.