British Columbia
To work as a Submortgage Broker in British Columbia, applicants must find a currently registered brokerage to sponsor their application for registration. The brokerage will then submit an application for registration on your behalf.
The following is a list of some of the basic requirements to accompany your application:
- Registration fee of $1,500 for a sub-broker, $1,900 for a mortgage broker.
- One piece of colour copied government issued photo ID
- Certified criminal record check (must be current and specific)
- Successful completion of the Mortgage Brokerage in BC course offered through UBC Sauder School of Business, Real Estate Division (You have 1 year after passing the exam to apply for registration).
- You may also be required to provide a Record of Employment or be subject to additional review.
Cases where Mortgage Brokerage course is NOT needed
- If you have an Urban Land Economics Diploma from UBC – simply provide the Financial Institutions Commission office a copy of your transcripts showing completion
- If you are currently licensed with the Real Estate Council of BC, or you have completed The Real Estate Services Licensing course from UBC within the past year, you can meet the education requirement by completing the Mortgage Brokerage Supplemental Course from UBC.
- If you are a practicing lawyer. Practicing lawyers are exempt from all education requirements on first application as well as on any renewals.
Visit BC Financial Services Authority (BCFSA) to learn more (link – https://www.bcfsa.ca/index.aspx?p=mortgage_brokers/industry)
Visit UBC Sauder to learn more (link – https://www.sauder.ubc.ca/Programs/Real_Estate_Division/Licensing_Courses/Mortgages)
Erica Ma, Area Vice President BC
Erica has been in the industry for the last 15 + years and brings a strong sales background and a wealth of industry knowledge. She started her career in a mortgage brokerage office, worked with CMHC, Canada Mortgage and Housing Corporation and spent the last 13yrs with Canada’s largest non-bank mortgage lender. She knows what it takes to be successful with both clients and industry partners, providing leadership and hands on support to the TMG BC Team. Erica is a keen professional dedicated to the continued growth in TMG British Columbia.