Mortgage Broker
A Mortgage Broker is an individual who brokers mortgages on behalf of a Mortgage Brokerage and has the education and experience necessary to supervise an associate.
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
Am I required to have my application authorized by the Mortgage Brokerage?
The Mortgage Brokers Act requires that all associates and brokers be authorized by a Mortgage Brokerage that is licensed to conduct business in New Brunswick.
You must indicate the name and email address of the principal broker or authorized individual within the brokerage that will authorize your application. Your application must be approved by your principal broker before it can be processed by the Commission
Who can sign the authorization?
The authorization must be given by the brokerages principal broker or an individual authorized by the brokerage to approve your application. If you are not certain of the authorized individual, you should contact your brokerage.
Who is an authorized individual?
The authorized individual is the principal broker and/or a person who has been designated by the brokerage company to approve the authorization of the associates and brokers. By providing authorization for an application for an associate or broker licence, the authorization confirms that they are aware of the qualifications and history of the applicant and that they recommend them as a trustworthy and competent person that should be entitled to a licence.
If I change companies, can I apply for a transfer online?
Licences are not transferable. You must terminate your licence and reapply for a licence with the new brokerage.
Your previous brokerage must submit a change in circumstances through the online portal to advise the Commission that you are no longer employed by them.
How do I establish proof of licensing in another jurisdiction?
Obtain a Certificate of Authority from that jurisdiction. That is official proof from the regulator in your home jurisdiction that you hold a current and valid licence that is of a similar type to your licence application in New Brunswick.
Can I delete an application?
No. Rejected or non-authorized applications are not deleted from the system.
I have filed for bankruptcy. Will I be eligible to apply for a licence?
Yes, but the application will be reviewed for suitability issues and you may be asked to provide additional documentation and information.
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