Mortgage Broker Course

    

If you are looking to get your Broker licence, this course is for you!

This course is required to be completed by active agents who intend to obtain their broker license to be able to arrange mortgages for all mortgage lenders, including private individuals (i.e. private lenders), supervise mortgage agents, and can be appointed as the principal broker for a brokerage.

You must have at least 24 months experience over the last 36 months as a mortgage agent (or as a mortgage agent level 2 after April 1, 2023). 

This course is accredited by the Financial Services Regulatory Authority of Ontario (FSRA), and adheres to the Mortgage Broker Regulators Council of Canada (MBRCC) accreditation standards.

Register For The Mortgage Broker Course Below:

PLEASE NOTE: Part 1 will be live on February 1, 2023.
You will receive a notification with details.

Course Details

Learning Outcomes

The learning outcomes are designed such that you will be equipped with the skills, knowledge and ability to run a brokerage. You will:

  1. Be able to demonstrate knowledge on the context of a modern brokerage business and its practices
  2. Be able to plan and establish a mortgage brokerage’s strategy and business practices
  3. Be able to hire staff, agents and brokers in adherence to employment laws and professional standards
  4. Be able to supervise, evaluate and contribute to the professional development of the brokerage’s staff, agents, and brokers
  5. Be able to effectively manage the brokerage’s resources, including financial, human resources, and administrative
  6. Be able to manage the brokerage in compliance with the laws and regulations governing the mortgage brokerage industry
  7. Be able to develop and implement standards and practices to ensure effectiveness of the brokerage in servicing the public
    Delivered in Two-Parts

    Part 1: Online/Self-Study Component

    • Catch up on the legislation and regulation governing the brokering industry and managing a brokerage.
    • Access our online learning portal to review the material on your own time, from the comfort of your own home or office.
    • When you have completed your review, you must successfully complete the Part 1 Exam to continue to Part 2.
    • You have 6 months from the time of registration to complete Part 1.

    Part 2: In-Class Facilitated Instruction

    • Over 5-days, consecutive Monday to Friday.
    • Hosted at CMBA Ontario’s head office at 40 Winges Road, Unit 7, Woodbridge, Ontario, L4L 6B2.
    • You will be guided by a practising Broker through the mandatory course material following the MBRCC competencies to run a mortgage brokerage business.
    • You can expect an interactive experience, with class discussions, group problem solving and case studies.
    • Immediately after the last day of instruction, you will be required to successfully complete the Part 2 Exam to pass the entire course. A 48-hour timeframe will be provided, meaning that you can choose within the following 48 hours to complete the exam.
    • Textbook will be available for pick-up on the first day of class.
    • You have 12 months from the time of registration to complete Part 2

    NOTE: In order for a course to proceed, a minimum number of participants must be met. If the minimum number of registrants for the course dates you have chosen is not met, you can switch into an alternate date we are offering or into our online course. This will not affect your time limit to complete the course.

    Cost for the Course

    Cost for In-Class Course: $495.00 (HST exempt)

    Cancellation Policy: Learners who wish to cancel the course after purchase will receive a refund minus a 25% admin fee. Refunds are not available if you have already attempted the Part 1 Exam.

    Class re-scheduling: There is no charge for re-scheduling the Part 2 in-class portion. Refunds are not available at this part of the journey.

    Exam re-scheduling:

    • The Part 1 Exam can be completed upon your discretion, and you have unlimited attempts.
    • If the Part 2 Exam is not completed within the allocated 48-hour timeframe, it can be rescheduled subject to a rescheduling fee.

    There is only 1 re-take attempt of the Part 2 Exam should you not pass the first time. If after 2 attempts you have not successfully passed, you will be required to re-take the course in full, including full payment of the course.

    Examination Details

    Both the Part 1 and Part 2 Exams are Multiple Choice Questions, with only 1 correct answer.

    You will be provided with a pass or fail result

    Part 1 Exam: passing grade of 60%, multiple tries allowed

    Part 2 Exam: passing grade of 60%, only 1 re-write is allowed if not successful the first time

    You must complete the Part 2 Exam through our virtual proctoring system on a laptop or computer. Cheating will not be tolerated.

    There is only 1 re-take attempt of the Part 2 Exam should you not pass the first time. If after 2 attempts you have not successfully passed, you will be required to re-take the course in full, including full payment of the course.

    Refund policy

    Virtual or In-Class:

    • Students who wish to cancel the course after purchase will receive a refund minus a 25% administration fee.
    • There is no charge for re-scheduling.
    • Refunds will not be available past the first attempt of the Part 1 Exam.

    CMBA Education Policies

    Code of Conduct

    Everyone taking a course at CMBA must adhere to the Learner’s Code of Conduct. Upon registering for a course, you will need to attest that you adhere to the code.

      Privacy Policy

      We are committed to protecting the privacy of the personal information on CMBA’s members and students enrolled in CMBA’s courses.

      Review our privacy policy for more information.

        Accommodation Policy

        CMBA is happy to make accommodations within reason for Learners with a valid accessibility need.

        It is expected that at a minimum, all Learners who are registering for a CMBA course is able to successfully operate as a Mortgage Agent or Broker with these basic skills: fluency in English, comfortable with computers, able to navigate web browsers, and comfortable completing online forms/questionnaires.

        Please contact CMBA at office@cmbaontario.ca to inquire about your specific accessibility accommodation.

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