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MSA Brokerage Readiness Assessment Frequently Asked Questions
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As part of BCFSA’s preparations for the Mortgage Services Act (“MSA”), which comes into force on October 13, 2026, BCFSA will be conducting a brokerage readiness assessment to better understand brokerages’ preparedness for the new legislation.
The assessment will launch on Wednesday, October 1, 2025, and must be completed by 11:59 p.m. on Friday, October 17, 2025.
A link to the assessment, along with instructions, will be sent to you via email on October 1, 2025. Completion is mandatory for designated individuals.
Your responses will help BCFSA identify where additional information or resources may be needed to support brokerages during the transition to the MSA. A summary report of key findings will be published in January 2026.
Please refer to the frequently asked questions below for more information about the assessment. If you have any further questions, please email msa@bcfsa.ca or phone BCFSA’s Service Centre: 604-660-3555 (local) or 1-866-206-3030 (toll free).
A brokerage readiness assessment refers to the collection of and review of information provided by brokerages to determine level of preparedness for an upcoming change. This assessment is being conducted as part of preparations by BCFSA for the Mortgage Services Act (“MSA”), which will come into force on October 13, 2026.
BCFSA is conducting the assessment to understand how brokerages are preparing for the MSA. Information provided will be used to help BCFSA understand areas where additional information or resources may be needed to support the mortgage services industry transition to the MSA.
The assessment will be conducted by online survey and will involve answering approximately 40 survey-type questions related to your brokerage.
It should take approximately 20 minutes to complete the assessment.
BCFSA strongly encourages designated individuals to complete the MSA: Getting Started course prior to completing the assessment, as some of the questions relate to content covered in the course.
To complete the MSA: Getting Started course, refer to the email sent by UBC Sauder School of Business on September 9, 2025, containing a link to register for the course. The course should take about an hour to complete.
Yes, all designated individuals must complete an assessment for each brokerage for which they are the designated individual. The assessment is an important step in BCFSA’s work to support the mortgage services industry prepare for the new legislative framework as it will help us determine areas where additional information or resources may be needed to support the mortgage services industry transition to the MSA.
We are asking designated individuals to complete the assessment by 11:59 p.m. on Friday, October 17, 2025. However, if you are unavailable during that time or are concerned about your ability to meet the submission deadline, you can contact BCFSA to request an extension. Please email msa@bcfsa.ca as soon as possible to request an extension.
BCFSA will conduct two brokerage readiness assessments throughout the 15-month transition period from the MBA to the MSA. The first assessment is being conducted early in the transition period to establish a baseline of the mortgage services industry’s knowledge, awareness and understanding of the new regulatory framework.
A second assessment will follow in early 2026, after the delivery of the MSA: The New Principal Broker transition education course, which will help BCFSA further determine brokerages’ readiness for the MSA ahead of the third phase of the transition beginning.
For more information about BCFSA’s 15-month transition plan, check out the Road Ahead to the MSA Graphic published on our website.
Yes. Designated individuals are required to complete an assessment for each mortgage brokerage for which they are the designated individual.
This assessment is not a result of a complaint or investigation. All designated individuals of a registered mortgage brokerage are being asked to participate in this assessment to help BCFSA understand how brokerages are preparing for the MSA. Information gathered will help BCFSA identify areas where additional information or resources may be needed to support the mortgage services industry transition to the MSA.