How to Verify a Mortgage Broker's License in Canada (By Province)

Why You Should Verify Your Broker's License

Mortgage brokers in Canada must be licensed by a provincial regulator. Licensing requires education, background checks, errors and omissions insurance, and ongoing continuing education. An unlicensed person who arranges a mortgage is committing a criminal offence.

Verifying a license takes under 2 minutes using the public registries below. It confirms: 1. The person is actually licensed (not just claiming to be) 2. Their license is current and active (not expired, suspended, or revoked) 3. There are no formal disciplinary actions against them 4. They are registered with the right license type for what they are doing

It is also a useful signal about professionalism: a broker who provides their license number on their business card or website without being asked is being transparent.

Mortgage Broker vs Mortgage Agent: Know the Difference

In Canada, there are two license levels in most provinces:

• Mortgage Broker: The senior license. A broker can operate their own brokerage, supervise agents, and arrange mortgages independently. Usually requires 2+ years of experience as an agent and an additional exam.

• Mortgage Agent (or Mortgage Associate in some provinces): A junior license. An agent must work under a licensed brokerage. Most people who call themselves "mortgage brokers" are actually licensed as agents working for a brokerage.

Both can legally arrange mortgages for you. The agent license is not inferior for the consumer — many excellent mortgage professionals work as agents their entire careers. The important thing is that they are properly licensed at whatever level they hold.

How to Verify a Mortgage Broker's License by Province

Every province has a public registry where you can confirm a license. Here is where to look in each province:

What to Look For in the Registry

When you find your broker or agent in the registry, check:

1. Status: Should say "Active" or "In Good Standing." If it says suspended, revoked, expired, or cancelled — do not use this person.

2. License type: Confirm they are licensed as a mortgage broker or agent (not an insurance or investment advisor, which are different licenses).

3. Brokerage: Agents must be associated with a licensed brokerage. Confirm the brokerage name matches what they told you.

4. Conditions: Some licenses carry conditions (restrictions on what the person can do). Check if any conditions are listed.

5. Disciplinary history: Most regulators list past disciplinary actions in the registry or on a separate page. Fines, suspensions, or reprimands are listed here.

6. Expiry date: Confirm the license has not expired. Licenses are typically renewed annually.

How to Ask Your Broker for Their License Information

You are completely within your rights to ask for: • Their license number • The province they are licensed in • The name of their brokerage (agents work under a brokerage) • The brokerage's license number

A licensed professional will provide this without hesitation. Most include it in their email signature or on their business card.

If someone is evasive about providing a license number, that is a significant red flag. Do not proceed with someone you cannot verify.

In Ontario, FSRA regulations require brokers and agents to provide their license number on demand to any person inquiring about their services.

Beyond the License: Additional Verification Steps

A valid license means the person met the minimum requirements. For additional due diligence:

1. Mortgage Professionals Canada (MPC): Canada's main industry association. Members have agreed to a code of ethics and continuing education requirements. Check mpcaamp.com for member status.

2. Google Reviews: A track record of client reviews is a strong signal. Look for recent, detailed reviews (not just star ratings).

3. Better Business Bureau: Check bbb.org for any formal complaints.

4. Referral source: The strongest verification is a referral from someone you trust who has personally used the broker. Ask your realtor, lawyer, or a friend who has recently purchased.

5. Professional designations: AMP (Accredited Mortgage Professional) is a designation from Mortgage Professionals Canada that requires additional education and experience.

Red Flags That Should Trigger a License Check

Always verify the license if: • The broker was found through a social media ad or cold call (not a referral) • They are reluctant to provide their license number • They promise approval before reviewing your documents • They ask for any fee upfront before closing • They cannot name the specific lender they plan to use for your deal • They guarantee a specific rate without reviewing your financial situation • They suggest misrepresenting your income or employment on the application — this is mortgage fraud, and a licensed broker who suggests it should be reported to the regulator