THIS IS AN IMPORTANT UPDATE FROM FSRA – for licensed agents/brokers-
At REMIC, we have been in contact with FSRA regarding a due date extension for license renewal and CE completion due to the COVID-19 pandemic. We feel that FSRA has worked very hard on developing a strategy to meet the needs of the industry during this difficult time while navigating the regulatory constraints regarding submitting renewal applications.
Please be sure to read the FSRA update below very carefully and execute one of the two options listed in it. You MUST execute one of the two options before March 31 AND complete your CE course before May 31.
Joe White and the REMIC team
Licence Renewal Extension is Possible – Action Required by March 31, 2020
Deadline for completing renewal applications will be extended from March 31, 2020, to May 31, 2020, provided renewal applications have been initiated by March 31, 2020.
Your current licence will expire on March 31, 2020. The licensing portal remains open. If you require an extension to complete your licence renewal, immediate action is required.
We are monitoring the rapidly evolving circumstances around COVID-19. We understand the normal course of business has been disrupted and business continuity plans have been activated at many workplaces, including FSRA.
FSRA continues operations and is consistently monitoring the mortgage broker sector while reviewing our work, stakeholder engagement activities and other commitments to prioritize activities. We are committed to communicating with you regularly. As we adapt to new norms, we ask for your patience and understanding where you experience delays.
You have two options in order to renew your licence:
1. Before March 31, 2020: Your principal broker must initiate your renewal application through licensing link; or
2. Before March 31, 2020: Send an email to MBrenewals@fsrao.ca and confirm, “I would like to renew my licence”. Your email must include your Full Name, Licence Number, and the Name and Licence Number of your Brokerage.
Completing either option will allow you to continue acting as a mortgage agent or broker after March 31, 2020. We encourage you to discuss these options with your principal broker.
Note: this is not the final step. For both options 1 and 2 – all agents and brokers are required to complete their renewal application through Licensing Link, and your Principal Broker must submit the application no later than May 31, 2020.
The simplified renewal application process provides more time to complete your CE credits. Make sure your CE credits are completed before your principal brokers submits your completed application through Licensing Link.
The renewal application fee will remain $841 until May 31, 2020. Your new licence will expire on March 31, 2021.