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Mortgage broker education requirements
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New licensing courses under Mortgage Services Act
On October 13, 2026, the Mortgage Services Act (MSA) came into force, repealing and replacing the Mortgage Brokers Act (MBA).
In preparation for this new legislation, BCFSA and UBC Sauder School of Business Real Estate Division developed new courses for prospective mortgage broker licensees and licensees wishing to become licensed as a principal broker.
Beginning August 4, 2026, prospective applicants were required to complete the Mortgage Services Licensing Course and pass the associated examination.
Learn more about the education requirements to become licensed as a mortgage broker in B.C.:
New individual applicant
Individuals with no experience
Mortgage brokerage applicants operating as sole proprietors and mortgage broker applicants must successfully complete certain courses in order to qualify for licensing. The courses or programs which qualify for mortgage brokerage or mortgage broker licensing are:
- Mortgage Brokerage in British Columbia; or
- A Diploma in Urban Land Economics, or its three core courses, obtained in the last 10 years:
- 111 Real Property Law & Ethics;
- 121 Foundations of Real Estate Mathematics; and
- 221 Real Estate Finance in a Canadian Context; or
- A four-year Bachelor of Commerce Degree with a specialization in Real Estate, obtained in the last 10 years.
Individuals who have successfully completed the course, Mortgage Brokerage in British Columbia, must apply for licensing within one year of writing the examination. This is to ensure that recently qualified individuals build on and solidify their education. However, if an individual has been actively brokering mortgages on behalf of an entity exempt from licensing, such as a savings institution, the one year period may be extended.
Examination challenge option for individuals with experience
Individuals, who have significant experience in the mortgage services industry, may be permitted to enroll in an accelerated version of the course, Mortgage Brokerage in British Columbia. The Examination Challenge Option program allows individuals to obtain course materials and challenge the final examination without the requirement to complete assignments.
In order to apply for permission to enter the Exam Challenge program, individuals must submit a resume outlining their education and work experience to the Superintendent of Mortgage Services (the Superintendent). Individuals must receive written confirmation from the Superintendent stating that they are eligible to challenge the Mortgage Brokerage in British Columbia examination prior to their enrolment in the program.
Individuals are only permitted to enroll in the challenge program once, and must challenge the examination within 24 months of receiving permission to do so from the Superintendent. Individuals who do not pass the examination or fail to write the examination within 24 months of receiving permission must enroll in the full course. This would involve successfully completing the assignments and passing the examination in order to satisfy the education requirements for mortgage broker licensing.
An individual applicant for mortgage brokerage or mortgage broker licensing who is currently licensed as a mortgage associate or equivalent in another province with which B.C. has a reciprocal licensing agreement in place must comply with the requirements outlined in the related policy document.
Individual interprovincial applicants who do not qualify for licensing reciprocity
Individual applicants for mortgage brokerage or mortgage broker licensing who do not qualify for licensing reciprocity and have been licensed or registered as a mortgage broker or equivalent in another province for at least three out of the last five years.
Previously licensed or registered interprovincial applicants seeking to write the Mortgage Broker Inter-Provincial and B.C. Procedures examination must provide the Superintendent with an original copy of their licensing history, including their disciplinary record.
Please note that the process to become licensed in B.C. from out of province can take some time depending on the province you are currently registered/licensed in.
Once you have completed the previous steps, you may follow the steps for becoming a new mortgage broker to complete your application.
Applicants with prior real estate services education
Individuals who successfully completed the Real Estate Trading Services Licensing course and/or were licensed under the Real Estate Services Act were eligible to complete supplemental mortgage licensing education to become registered under the Mortgage Brokers Act. However, with the introduction of the MSA and the Mortgage Services Licensing course and the Mortgage Principal Broker’s Licensing Course on August 4, 2026, supplemental licensing education is no longer available.
A real estate licensee who began the process of taking the Mortgage Brokerage Supplemental course and passed the exam on or before July 15, 2026, may be eligible for licensing up to one year from the date they passed the Mortgage Brokerage Supplemental examination provided they also complete the MSA Transition Supplemental course.
Course information
All courses and programs listed above are offered by the University of British Columbia. Further information on the courses or programs may be obtained from:
Real Estate Division - Licensing Education
Sauder School of Business
University of British Columbia
Henry Angus Building
2053 Main Mall
Vancouver, British Columbia V6T 1Z2
Telephone Number: (604) 822-8444
Toll Free: 1-888-776-7733
Web: http://www.realestate.ubc.ca/mortgages
E-mail: bcinfo@realestate.sauder.ubc.ca
Former registrants who wish to become licensed
Individuals who are not currently licensed under the Mortgage Services Act, but were previously registered as a mortgage broker or submortgage broker under the previous Mortgage Brokers Act, may be eligible to apply to become licensed without retaking any of the qualifying courses or programs depending on how long the individual was continuously licenced and how long it has been since they were last registered. However, they will be required to satisfy the continuing education requirements for licence renewal, including MSA transition education, prior to obtaining their licence.
According to the Mortgage Services Education Requirements for Previously Licensed Individuals regulatory statement, BCFSA will waive the requirement to requalify by taking the applicable licensing examination during what is known as an Education Requalification Waiver period.
The education requalification waiver periods are as follows:
- After passing a licensing examination, an applicant may apply for relicensing for up to 12 months
- If an applicant was continuously licensed for less than a year, they may apply for relicensing for a period equivalent to their unbroken licensed period
- If an applicant was continuously licensed for one (1) year but less than five (5) years, they may apply for licensing for up to one (1) year
- If an applicant was continuously licensed for five (5) years or more, they may apply for licensing for up to two (2) years
An applicant who applies for licensing within their education requalification waiver period but after their previous licence has expired must have completed all necessary continuing education requirements.
Previously registered individuals wishing to pursue licensing can contact BCFSA at education@bcfsa.ca to understand their individual requirements.
Continuing education
The Superintendent requires persons who are licensed to provide mortgage services under the Mortgage Services Act to qualify for each and every licensing renewal, and unlicensed persons to qualify for reinstatement of their licensing by taking continuing education. Please refer to the continuing education webpage for more details and approved courses.
BCFSA encourages mortgage brokers to continue their pursuit of professional development by completing additional continuing education through professional associations including the Canadian Mortgage Brokers Association — British Columbia, Mortgage Brokers Institute of BC, and Mortgage Professionals Canada.