Alberta - Get Mortgage Broker License

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Procedure

Apply Online:

1. To apply for a Mortgage Broker License, the applicant can approach the Real Estate Council Alberta (RECA). Here is the contact Link
2. The applicant will need to create a MyRECA account. Follow these steps:
   • Click on the following link to the login page Link
   • On the login page, click on the “Create an account” option.
   • The applicant will need to enter their username, password and email address.
   • Accept the terms and conditions.
   • An email will be sent to the applicant with instructions on how to log in.
3. The applicant can now log in to their account. The applicant will be asked what kind of user they are, for this select “Licensee”.
4. The applicant will be asked to submit one of the documents mentioned under the “Required Documents” section of this page.
5. Find further information regarding the documents under the “Instructions” section of this page.
6. The applicant will need to complete an approved course, find information here Link
7. The applicant will need to undergo a criminal record check.
8. Once all the documents have been verified, the applicant becomes eligible for licensing and will need to contact a licensed brokerage in Alberta and come to an agreement for them to hire the applicant.
9. Once the applicant has been hired, their brokerage will begin the licensing process by asking the applicant for their MyRECA account details.
10. Fill out the application form with all the relevant details.
11. The applicant will need to make a fee payment, find further information under the “Fees” section of this page.
12. The brokerage will submit the application form on the applicant’s behalf. It takes a few weeks to process the application.

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Required Documents

• Photo ID
• Course completion certificate
• Criminal record check
• Labour Mobility Application—if the applicant was or were licensed in a different jurisdiction and wants to also become licensed in Alberta Link
• Suitability Review Application—if there are instances in the applicant’s past that could affect RECA’s decision to give them a licence Link
• Education Eligibility—if neither Labour Mobility (3a) and Suitability (3b) apply to the applicant and would like to get started with their pre-licensing courses Link

Office Locations & Contacts

Address: 25 Sheppard Avenue West, Suite 100
Toronto, ON
M2N 6S6
Telephone: 416-250-7250
Toll free: 1-800-668-0128
Email: contactcentre@fsrao.ca
Mailing address:
25 Sheppard Avenue West, Suite 100
Toronto, ON
M2N 6S6
Contact Link

Eligibility

• The applicant must be 18 years of age or older.
• The applicant must be able to study and work in Canada.
• The applicant must have a government-approved photo ID.
• The applicant must have a high school education or equivalent.
• The applicant must be proficient in English.

Fees

• The applicant will need to pay fees. Find information here Link

Validity

• The validity will be specified by the authorities.

Documents to Use

• Labour Mobility Application—if the applicant was or were licensed in a different jurisdiction and want to also become licensed in Alberta Link
• Suitability Review Application—if there are instances in the applicant’s past that could affect RECA’s decision to give them a licence Link
• Education Eligibility—if neither Labour Mobility (3a) and Suitability (3b) apply to the applicant and would like to get started with their pre-licensing courses Link

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

• It takes a few weeks to process the application.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• Application guide Link

Required Information

A list which displays the kind of information which is required to complete the procedure.
e.g.
1. Date of Birth.
2. City or Country of Birth.

Need for the Document

• A mortgage broker arranges mortgages for a brokerage or a company, a person is legally required to obtain a license before practising. This document proves that the applicant is licensed.

Information which might help

• Information Link

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

Place some external links which might help.

Others

More information which might help people.