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Becoming a New Submortgage Broker

Becoming a New Submortgage Broker

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Becoming Registered

Before registering in a Mortgage Brokers course or applying to BCFSA for registration, review this information to make sure you have considered all the requirements for becoming a submortgage broker in B.C.

Hoping to Become a Submortgage Broker?

B.C. submortgage brokers must be registered and renew registration every two years.

The focus of the BCFSA registration process is to ensure that candidates have demonstrated they possess the required entry-level competencies to provide submortgage broker services effectively and in the public interest.

Professional competence is achieved through a combination of knowledge, skills, abilities, and judgment. Before registering for a course or applying for registration, we strongly recommend that candidates review the information on these pages to ensure they are familiar with the requirements for licensing submortgage broker in B.C.

Before You Begin

Before registering in a licensing course or applying to BCFSA for registration, carefully review the following information to make sure you have considered all the requirements for becoming registered as a submortgage broker in B.C.

Education

Becoming a mortgage broker in B.C. requires the completion of specific courses to the industry. Applicants with experience in the mortgage broker industry may be eligible for accelerated courses.

Mortgage Broker Education Requirements

Finding a Brokerage

Before you apply to become a submortgage broker, you must find employment with a brokerage. Once you have entered into an agreement with your employer, you may return to the IRIS portal to apply for registration with either the name or registration number of the brokerage.

Before you log in to IRIS, make sure you have:

  • A certified criminal record check (for information on criminal record checks and how to obtain them, view the Suitability Requirements for Submortgage Broker Applicants Regulatory Statement); 
  • A colour copy of a government issued photo ID; 
  • Date of completion of a qualified mortgage brokers course from Sauder School of Business (Learn more about registering from another jurisdiction); 
  • A VISA, MasterCard, or American Express for payment (new applications cost $1,500. Late fees may apply for late submissions);  
  • The completed education requirements for renewal (for reinstatements and renewals only);  
  • Your employment history for the past five years, without gaps; and 
  • Your managing entity registration number/name provided by your designated individual 

If you have been employed by a financial institution in the last two years, you must also submit a Record of Employment from Service Canada.

When you are ready to submit your application through the IRIS portal:

  1. Click New Submission;
  2. Scroll down through the list of submission types;
  3. Select “Register New Submortgage Broker”; and
  4. Fill out your application.
Log in to IRIS (will open in a new tab)

NOTE: You must fill out the application for yourself.

You can return to your application for up to 90 days and edit it when it is saved in draft mode.

Review and Approval

Once you submit your application, your designated individual will receive an email and attest to your application before it is sent to BCFSA. BCFSA’s registration staff will review your application. If it is complete and satisfactory, you will receive an approval email and your registration information will be updated in our Find a Professional Database on the BCFSA website.

Registration staff will contact you if BCFSA requires more information or if you need to correct any deficiencies within your registration application.

Find a Mortgage Broker