*Experienced individuals include those that have been licensed for at least 24 of the past 36 months and have completed additional licensing qualifications).
**To obtain a mortgage broker license, a person must successfully complete a probationary period of 3 months. This probationary period must be supervised by a mortgage broker qualified to act as supervisor. These requirements include having been licensed for at least 24 of the past 36 months.
||Must publish the name under which they are registered. Advertisement must not be false, misleading or deceptive. Detailed cost of credit requirements for advertising in the Business Practices and Consumer Protection Act.
||Personal & Team branding allowed, but Brokerage name must be clearly indicated in all advertising—this includes business-related social media presence. If the individual is advertising their name, the name must appear as it does on the individual’s licence; however, an AKA can be registered with RECA. Titles are not required but cannot be false or misleading (i.e., Mortgage Agent may be misleading since many brokerages do not practice as agent for the borrower).
||Licensee shall not use a name (brokerage, broker, associate or administrator) other than the name set out on the licensee licence. A Brokerage and Administrator must identify the business name, a statement identifying the licence and the licence number. If that advertisement relates to a specific broker or associate, the name of the broker or associate must be identified along with a statement identifying the licence and the licence number.
||Advertisements must not be misleading or deceptive. Registrants (brokerage, salesperson, authorized official) must advertise under the name set out in their certificate of registration. Brokerages intending to use a business name must register it so it is included on their certificate of registration.
||Mortgage brokerages and administrators must clearly and prominently disclose their authorized name and licence number on all public relations materials. If an authorized name is, or includes, a franchise name, it must include “independently owned and operated”. If the brokerage materials identify a specific agent/broker by name, it must also include the authorized name and title of the agent/broker. Mortgage broker or agents must clearly and prominently disclose their licensee name and the authorized name and licence number of their authorizing brokerage on public relations materials. Brokerages, brokers, agents, and administrators must not include false, misleading or deceptive information in their public relations materials. Cost of borrowing: There are specific requirements in O. Reg. 191/08 regarding what information (e.g., APR) must accompany advertisements for: mortgages for a fixed amount, line of credit and/or interest-free periods.
||Mortgage brokerage firms must use their name and title in all their advertising. They may use the name under which they are registered or use another business name previously disclosed to the AMF and publicized on the AMF public register. An advertisement may identify a specific mortgage broker. In such a case, the advertisement must include the name of the mortgage broker and the title mortgage broker as well as the name and title of the brokerage firm on whose behalf the mortgage broker is acting. The same rules apply to independent partnerships.
||Brokerages and administrators must identify their licence category; individual licence holders (brokers and associates) must include the name issued on their licence, their licence category (mortgage broker or mortgage associate) and the name of the brokerage or administrator he or she is authorized to represent.
||All licensees must use name on licence, permitted to use franchise name but advertising must state “independently owned and operated”. Brokers and Assoc.: Brokers must show Brokerage where authorized and use title or title abbreviation. Licensees cannot make false, misleading or deceptive statements. Detailed Cost of Borrowing requirements for advertising (Line of Credit, fixed Mortgage, Interest-free periods).
|Newfoundland & Labrador
||A mortgage broker shall, when advertising, indicate that he or she is a mortgage broker and the address of his or her place of business.