All Mortgage Brokerages, Administrators, Brokers and Agents need to be licensed with the Financial Services Commission of Ontario (FSCO) in order to conduct mortgage brokering business in Ontario. 

It is important for licensed individuals and businesses to understand and comply with the Act and its regulations

 
Click on the following link to get the online version of the FSCO Mortgage Brokerages, Lenders and Administrators Act, 2006.
 


Additional Regulations Have Been Approved

The Government of Ontario has made additional regulations under the Mortgage Brokerages, Lenders and Administrators Act, 2006 (the Act). Some of the new regulations deal with technical changes to regulations dealing with licensing requirements that were communicated over the past year.  The remaining new regulations set out the business requirements that Mortgage Brokerages, Administrators, Brokers and Agents will need to meet, once they are licensed under the Act. 

Some rules under the new regulations went into effect on July 1, 2008, while others go into effect on January 1, 2009. Over the next few months, FSCO will provide a range of online resources to help the mortgage brokering industry understand the new regulations.  FSCO will also continue to meet with members of the industry to ensure that the regulations’ rules can be implemented in a practical manner. 

As part of FSCO’s commitment to keep the mortgage brokering industry informed, FSCO created the Mortgage Broker e-Info Newsletter. If you have not signed up for the Mortgage Broker e-Info Newsletter, click here to sign up. In addition to the Mortgage Broker e-info Newsletter, FSCO is also sending other important communications to individuals on the newsletter distribution list.  

 

Technical Revisions to Regulations Dealing with Licensing Requirements:
(Click on each link to get further details)
New Regulations Dealing with Business Requirements:
(Click on each link to get further details)