Mortgage Brokers

Industry

Conflict of Interest - Implementation of New Requirements

Mortgage Broker Conflict of Interest Guidelines
Conflict of Interest FAQ
Updated June 23, 2017

Form 10

Update to Industry - Nov 2016

Update to Industry - April 2016
Registrar's open letter to the industry

The Registrar of Mortgage Brokers protects the public and enhances mortgage broker industry integrity by enforcing mortgage broker suitability requirements and reducing and preventing market misconduct under the Mortgage Brokers Act and Regulations.


Registrations

View our Frequently Asked Questions.

Designated Individuals can manage registrations information through the Mortgage Broker E-Filing system including transfers, terminations, changes to brokerage details, changes to directors and renewals.

Forms and guidance provide registration information and application forms, required disclosure forms under the Act, and annual filing forms and declarations.

View our registration application and late filings fees as well as educational requirements.

For mortgage transactions that cross provincial borders, the Mortgage Broker Regulators´ Council of Canada has launched a Licensing Information Tool to help brokers better understand the registration and licensing requirements for mortgage transactions (based on the location of the borrower, broker, and property).

To verify British Columbia´s registration requirements call 604 660-3555 or 866 206-3030 toll free, or email MortgageBrokers@ficombc.ca.


Guidelines

Mortgage Broker Conflict of Interest Guidelines

Conflict of Interest FAQ
Bulletins

The Registrar issues bulletins on a range of issues that assist brokers to understand and comply with regulatory requirements. To help you identify which bulletins may be relevant to you and your circumstances, please refer to the topics below.

Registration:

• General

    · Regulatory Update Advisory MB16-001
    · Conditions of registration - trust funds MB12-003, MB04-002
    · Record keeping requirements MB12-001
    · New mortgage broker applications MB11-008
    · Credit card payments for registration applications and late filing MB11-006
    · Suitability reviews and criminal record checks MB11-002
    · Criminal record checks - confirmation of identification MB10-003
    · Use and protection of client information MB10-001
    · Due diligence for hiring sub-mortgage brokers MB07-001
 

• Licensing reciprocity MB11-004

 

• Education

    · Qualification and continuing education requirements MB14-002
    · Education requirements MB09-002
 

• Permitted functions of unregistered assistants MB12-002

 

• "Hanging registrations" MB05-001

 

• Mortgage lead generation / referrals MB10-004

 

• Co-brokering MB10-005

Mortgage Investment:
  • Mortgage Investment Corporations MB13-001, MB14-001
Conduct:
  • Disclosure
    · Form 9 - Disclosure to Mortgage Lenders MB11-005
    · Form 10 - Borrower Conflict of Interest Disclosure MB11-03, MB09-004 (originating lenders), MB04-004
    · Form 11 - Lender Conflict of Interest Disclosure MB11-007
  • Compliance with the Business Practices and Consumer Protection Act
    · Prohibited Fees - including advanced fees MB15-001
    · Cost of credit disclosure Requirements
    · Borrower disclosure requirements MB06-001
    · Misleading advertising and mortgage loan advertising MB06-002
    · Consent to credit bureau searches MB11-001
    · Advance fees MB10-007, MB96-003
  • Due diligence on information submitted by borrowers MB04-005
  • Due diligence on stated income mortgages MB07-005
  • Maximum fees for providing executed mortgage discharges and other costs MB07-003
  • Fees under the Mortgage Brokers Act MB04-001
  • Guidelines on publication of orders, decisions, and notices of hearing MB10-006
  • New enforcement powers under the Act MB09-005

 


Contact Us:

By Phone

MortgageBrokers@ficombc.ca for registrations
BrokerConduct@ficombc.ca for market conduct

Related Contacts

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