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Extra-provincial Qualification
If you are currently or previously licensed as a mortgage broker in another Canadian jurisdiction, you can apply to become registered in B.C. However, the requirements for qualification vary based on the occupational standard equivalency of the Canadian jurisdiction where you are licensed.
| Jurisdictions with Occupational Standards Deemed Equivalent to B.C. | Jurisdictions with Occupational Standards Deemed Inequivalent to B.C. |
|---|---|
| Alberta | Ontario (Mortgage Agent Level 1) |
| Saskatchewan | Newfoundland & Labrador |
| Manitoba | Yukon |
| Ontario (Mortgage Agent Level 2) | Northwest Territories |
| Quebec | Nunavut |
| New Brunswick | |
| Nova Scotia |
All extra-provincial applicants must submit the following with their registration application:
- An original copy of your licensing history and any disciplinary records sent directly from the regulator in your jurisdiction, and
- A signed Statutory Declaration.
Jurisdictions with Occupational Standards Deemed to be Equivalent to B.C.
Generally, extra-provincial licensees are required to successfully pass the Mortgage Brokers Inter-Provincial and B.C. Procedures examination although some are exempt.
| Category | Qualification |
|---|---|
| Currently licensed and have less than two years of mortgage broker experience | Apply to BCFSA for approval to complete the Mortgage Brokers Inter-Provincial and B.C. Procedures examination |
| Currently licensed and have more than two years of mortgage broker experience | Exempt |
| Not currently licensed, but previously licensed for at least three out of the last five years | Apply to BCFSA for approval to complete the Mortgage Brokers Inter-Provincial and B.C. Procedures examination |
| Not currently licensed, but successfully passed a qualifying mortgage broker’s pre-licensing examination within the last year | Apply to BCFSA for approval to complete the Mortgage Brokers Inter-Provincial and B.C. Procedures examination |
Jurisdictions with Occupational Standards Deemed to be Inequivalent to B.C.
Generally, the Mortgage Brokerage in British Columbia course is the requirement for licensed applicants from a deemed inequivalent jurisdiction to become registered in B.C. However, some exemptions apply based on the applicant’s years of experience.
- If you have less than two years of experience, you must complete the course AND pass the corresponding examination.
- If you have more than two years of experience, you may apply to BCFSA for approval to take examination Only and must pass before you can apply.
Please note that the process to become registered in B.C. from out of province can take some time depending on the province you are currently registered/licensed in.
Once you have completed the previous steps, you may follow the steps for becoming a new submortgage broker to complete your application.