Mortgage Broker Regulators' Council of Canada

Working with a Mortgage Broker

Mortgages are often the largest financial commitment Canadians make. It is important to find a mortgage that is right for you and suitable for your needs and circumstances. Mortgage brokers are regulated professionals who can help you find the right mortgage.

From your initial meeting with a mortgage broker to the closing of the transaction, mortgage brokers are subject to a series of regulatory requirements as well as industry accepted practice standards. However, it is important to note that the regulatory requirements may differ from province to province.
This document will help you better understand the mortgage transaction process and what you can expect if you work with a mortgage broker.

For more information on the mortgage broker’s role and requirements in the transaction process, you can speak to a licensed mortgage broker. You can also connect with the regulatory authority in your province for specific regulatory requirements.

Depending on the type of licence and the province in which it was issued, the licensed professional you deal with may be a mortgage broker, submortgage broker, associate mortgage broker or mortgage agent. Here, “mortgage broker” is used broadly to refer to all of these individuals.