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Mortgage Broker Fee Schedule
Fees under the MSA
BC Financial Services Authority (BCFSA) is required to charge fees to cover the costs of implementing and administering the regulatory regime under the Mortgage Services Act (MSA). The MSA, which came into force on October 13, 2026, and repealed and replaced the Mortgage Brokers Act, increased oversight of the mortgage services industry and enhanced consumer protection.
BCFSA must charge fees to effectively regulate the mortgage services industry and provide these enhanced services to better protect consumers. These fees are used to support the development of education, licensing and suitability assessments, proactive compliance and examinations activities, and enforcement.
The MSA fee schedule came into effect on October 13, 2026, when the MSA came into force, and applies to both new licensees and renewing licensees.
Licensing application and renewal application fees include one category of mortgage services. If applicants or licensees would like to provide more than one category of mortgage services, there is an additional cost per category (see the licence fee tables below).
MSA fee schedule
The table below outlines the MSA fee structure. Fees include non-refundable application fees and refundable licence fees for issuing, renewing, amending, or reinstating a licence.
Individual Licence Fees
| Type of Application | Fee |
|---|---|
| Licensing Application – Mortgage Broker | $2,100 |
| Licensing Application – Principal Broker | $2,100 |
| Additional Category Licence Fee (per category) | $500 |
| Licence Renewal Application | $2,000 |
| Late Licence Renewal Application | $2,100 |
| Licence Transfer or Reinstatement Application | $300 |
| Amendments (i.e., change of business address, change of name, etc.) | $250 |
| Category Licence Removal (per category) | $200 |
Brokerage Licence Fees
| Type of Application | Fee |
|---|---|
| Licensing Application – Brokerage | $3,100 |
| Licensing Application – Branch | $3,100 |
| Additional Category Licence Fee (per category) | $1,000 |
| Licence Renewal Application | $3,000 |
| Late Licence Renewal Application | $3,100 |
| Reinstatement Application | $300 |
| Amendments (i.e., change of principal broker, etc.) | $250 |
| Category Licence Removal (per category) | $500 |
Personal Mortgage Corporation Fees
| Type of Application | Fee |
|---|---|
| Licensing Application – Personal Mortgage Corporation | $2,100 |
| Additional Category Licence Fee (per additional category) | $500 |
| Licence Renewal Application | $2,000 |
| Late Licence Renewal Application | $2,100 |
| Licence Transfer or Reinstatement Application | $300 |
| Amendments (i.e., change of business address, change of name, etc.) | $250 |
| Category Licence Removal (per category) | $200 |
Teams Fees (Effective April 1, 2027)
| Type of Application | Fee |
|---|---|
| Mortgage Services Team Application (per individual) | $50 |
| Team Amendments (i.e., all members move to a new brokerage) (per individual) | $50 |
| Change of Team Name | $50 |
| Adding or Removing Team Member (per individual) | $50 |
All applications must be submitted electronically using the IRIS Portal. This system includes a secure electronic payment feature (BC Express Pay) to ensure the fastest application processing time. Applications are not considered complete and will not be reviewed until payment is received.
If payment is not being made via IRIS Portal by the licensee it must be made using the card payment methods listed below.
BCFSA accepts Visa and Mastercard (credit and debit).
Fee scenarios
The fictional scenarios below are intended to help mortgage services professionals understand the application of MSA fees.
Context: North Star Mortgage Brokerage employs 214 mortgage services licensees, including several principal brokers. North Star has moved its business location and wishes to change its address for the brokerage and all licensees under it.
Fees: A business address change must be reported promptly to BCFSA. To do this, North Star applied to amend its licence and paid the associated $250 fee. The total cost for this change is $250. It will only be charged at the brokerage level but will also apply to all licensees under the brokerage.
Context: Shamira would like to become a mortgage broker who only provides the service of dealing in mortgages, often referred to as origination. Shamira has completed all educational requirements and would like to apply for a first-time licence.
Fees: Shamira will need to apply for a first-time mortgage broker licence and pay the associated $2,100 fee. As one category of service is included in the first-time licence application fee, Shamira does not need to pay for an additional category.
Context: Alistair is a mortgage broker who is licensed for two categories of mortgage services, (1) dealing in mortgages and (2) trading in mortgages. Alistair’s licence is in good standing and is valid for another nine months. However, he has decided to remove his trading in mortgages licence category and add the category of administering mortgages. Alistair has ensured that he meets all the qualifications (e.g., education requirements) to qualify for the administering mortgages licence category.
Fees: The fee to add a category to one’s licence is $500 for an individual broker. The fee to remove a category from one’s licence is $200 for an individual broker. So, Alistair will be paying $200 + $500 = $700. These fees are separate from his licensing renewal fees which he will be required to pay when his licence comes up for renewal in nine months.
Context: Canucks Mortgage Brokerage has a head office and three branch offices, all of which provide the same single category of mortgage services. The brokerage’s licenses are up for renewal which includes the brokerage head office and each of its three branch offices.
Fees: The fee for a mortgage brokerage renewal is $3,000. It is the same cost for each branch office. This means that Canucks Mortgage Brokerage will be paying a total of $12,000, broken down as follows:
- Head office licence renewal ($3,000) + Branch office A’s renewal ($3,000) + Branch office B’s renewal ($3,000) + Branch office C’s renewal ($3,000) = $12,000.
Context: Sally is a Principal Broker for two related mortgage brokerages – Vancouver Mortgage Brokerage and West Side Mortgage Brokerage. At Vancouver Mortgage Brokerage, she is licensed in two categories, (1) dealing in mortgages and (2) trading in mortgages. At West Side Mortgage Brokerage, she’s also licensed in the same two categories.
Fees:
Initial Application
The first-time licence application fee for an individual broker (including a Principal Broker) is $2,100. Since Sally is licensed with two brokerages, Sally must pay for each licence separately. A new licence application includes one category; so, Sally will need to pay for the second category under each of her licenses. This means Sally’s total initial application fees are: $2,100 + $500 + $2,100 + $500 = $5,200.Renewal
The fee for an individual broker (including a Principal Broker) to renew their licence is $2,000 plus the cost of any additional categories of service above one category (i.e., $500 per additional licence category). Since Sally is licensed as a Principal Broker at two brokerages and in two categories of mortgages for each brokerage, she must renew her licence at both brokerages. Sally will be paying $5,000 for licence renewal (i.e., $2,000 + $500 + $2,000 + $500).Context: Gurneet wants to start her own mortgage brokerage and be the Principal Broker of that brokerage. She only wants to provide the service of dealing in mortgages, often referred to as origination. Gurneet meets all the relevant qualifications and is applying for both a first-time brokerage licence and a first-time Principal Broker licence.
Fees: The fee for an initial Principal Broker licence is $2,100. The fee for an initial brokerage licence is $3,100. Both the Principal Broker and brokerage licence fees include one category of service; so, Gurneet does not need to pay for an additional category. In total, Gurneet will pay $5,200 for both a Principal Broker licence and a brokerage licence.
Context: Ahmed would like to apply for first-time licensure as a mortgage broker and have his brokerage flow his remuneration through a personal mortgage corporation. He only wants to provide one category of service – trading in mortgages.
Fees: Ahmed will need to apply for a first-time licence and pay the associated $2,100 fee. Ahmed will also need to apply for a first-time personal mortgage corporation licence and pay the associated $2,100 fee. In total, Ahmed will need to pay $4,200 for both licenses.
MSA Fees FAQs
*This information will be updated as new information becomes available.
New fees came into effect when the MSA came into force on October 13, 2026. BCFSA is required to charge fees to cover the costs of implementing and administering the regulatory regime, which increased oversight of the mortgage services industry and enhance consumer protection.
BCFSA is an industry-funded Crown agency and does not receive government funding to regulate the mortgage services industry. BCFSA must charge fees so it can effectively regulate the mortgage services industry in accordance with the MSA, and the enhanced services and regulatory activities that it brought into effect.
The MSA brought in a new set of rules with substantial oversight requirements aimed at protecting consumers, including new and improved disclosure requirements, higher suitability standards, and increased enforcement and monitoring.
The MSA fee schedule came into effect on October 13, 2026, when the MSA came into force. The MSA fee schedule applies to all licensees, so anyone renewing their licence after October 13, 2026, will be charged the new MSA fees.
Most of the licensure fees (see licence fee tables) are comprised of smaller non-refundable application fees and a larger refundable licence fee. The refundable portion will be returned to the applicant if they withdraw their application before their licence is issued by BCFSA, or if their application does not successfully pass the review process and is not issued.
Licence fees are not refundable after a licence has been issued.
See “How to pay” above for information about paying fees.