new-web-logo

Real Estate and Mortgage Institute of Canada Inc.
Toronto:
2175 Sheppard Ave E, Suite 307
Mississauga: 1065 Canadian Pl, Suite 203
t: 1-877-447-3642     e: support@remic.ca

FSCO public mortgage brokerage registryFSCO Public Mortgage Brokerage Registry System

FSCO has a Public Mortgage Brokerage Registry listing all mortgage agents and brokers in Ontario.  To access this listing please go to http://www5.fsco.gov.on.ca/mbsweblist/agents.aspx

Mortgage brokering in Ontario is regulated by the Financial Services Commission of Ontario (FSCO) and requires a license.  To obtain a license you must first pass an accredited course.  The Real Estate and Mortgage Institute of Canada Inc. (REMIC) is accredited by FSCO to provide the course.  For more information please visit us at www.remic.ca/getlicensed or call us at 877-447-3642

Regulation 190/08 created the requirement of a public registry for licensees (brokerages and Administrators) which maintains the following information:

  • each name in which it is licensed and its licence number
  • the type of licence that it holds and whether the licence is in good standing or is suspended
  • its mailing address in Ontario as it appears in the records maintained by the Superintendent
  • its telephone number as it appears in the records maintained by the Superintendent
  • any conditions that apply to the licence
  • for a brokerage, the name of its principal broker

For two years after a brokerage or Mortgage Administrator ceases to be licensed, the FSCO public mortgage brokerage registry must contain the following information about the former brokerage or Mortgage Administrator:

  • each name in which it was licensed and its former licence number
  • the type of licence that it held
  • the date on which it ceased to be licensed
  • whether the licence was surrendered or revoked

Similarly, the FSCO public mortgage brokerage registry that is to be maintained under subsection 28 (1) of the Act must contain the following information about each broker and agent:

  • the name in which he or she is licensed and the licence number
  • the type of licence that he or she holds, its expiry date and whether the licence is in good standing or is suspended
  • the name of the brokerage on whose behalf he or she is authorized to deal or trade in mortgages
  • any conditions that apply to the licence, other than conditions relating to educational requirements

Again, if a broker or agent ceases to be licensed, the FSCO public mortgage brokerage registry must contain the following information about the former broker or agent:

  • the name in which he or she was licensed and his or her former licence number
  • the type of licence that he or she held
  • the name of the brokerage on whose behalf he or she was authorized to deal or trade in mortgages immediately before ceasing to be licensed
  • the date on which he or she ceased to be licensed
  • whether the licence expired, renewal of the licence was refused, the licence was surrendered or the licence was revoked

The information required must be kept on the FSCO public mortgage brokerage registry until two years after the expiry date of the individual’s licence or, if the licence was surrendered or revoked before the expiry date, until two years after the date on which the licence would have expired if it had not been surrendered or revoked.

Joe White
Follow Me!

Joe White

President at REMIC
Joseph J. White has been involved in the mortgage industry since 1988. He began his career as a mortgage agent, and in the mortgage lending sector of the industry he has held positions as National Sales Manager and VP of Sales with two national mortgage lenders.

In the industry’s mortgage brokering sector he is a licensed mortgage broker and has been a partner at a successful mortgage brokerage, manager at two national brokerages, principal broker at a commercial brokerage, founder of a mortgage investment corporation, and is owner and principal broker of his own boutique brokerage.

As an educator, Mr. White has been educating the mortgage industry since 1996.During his 14 years at Seneca College he was a professor and program coordinator and is currently President of the Real Estate and Mortgage Institute of Canada Inc. (REMIC).Mr. White has developed several courses for Seneca College, including the first mortgage broker education program in Ontario,as well as the mortgage agent course.He has written two textbooks used in the mortgage industry and by over 20 Ontario colleges with over twenty thousand copies in print, in addition to several business focused books and e-books. He has instructed over fifteen thousand students and in 2003 won the Excellence Award for teaching and leadership excellence at Seneca College.He can be contacted at joe.white@remic.ca
Joe White
Follow Me!

Latest posts by Joe White (see all)