Mortgage Administrator
Mortgage Administrator is a corporation that:
- receives payments made by a borrower and remits those payments to the investor.
- monitors the performance of a borrower with respect to his or her obligations under the mortgage.
- enforces or takes steps to enforce payment by the borrower under the mortgage.
Licensing Fees
| Type of Fee | Application Fee | Annual Fee (Due March 31st) |
|---|---|---|
| Mortgage Brokerage Licence | $600 | $600 |
| Mortgage Broker Licence | $300 | $300 |
| Mortgage Associate Licence | $300 | $300 |
| Mortgage Administrator Licence | $600 | $600 |
| Endorsement | $400 | $300 |
| Fee for an exemption application | $300 | |
| Fee payable for each request to review an application on an expedited basis | $300 | |
| Late fee payable for each document filed outside the prescribed time period | $100 |
Frequently Asked Questions
Our administrator application has been submitted; when can Mortgage Brokers/Associates apply for their licence?
The Mortgage Brokerage licence must be approved prior to any Mortgage Broker/Associate application.
How does my brokerage/administrator complete our annual filing requirements?
You can satisfy your annual filing requirements through our online portal under the relevant licence.
How do I notify the Director of a change with our administrator?
You will file a change in circumstance through our online portal under the relevant licence.
Where can I get a background check?
You can obtain a completed criminal record check from a detachment of the RCMP, or a municipal or provincial police force, or an approved background check vendor, which has been issued in the last six months.
Help and Support
Licensing Inquiries: Mortgage.Licensing@fcnb.ca
Compliance Inquiries: Consumer.Compliance@fcnb.ca
Technical Support: Technical issues with the portal? Submit a support request through our online form at https://portal.fcnb.ca/requestsupport/
Contact us toll free at: 1-866-933-2222