Newfoundland and Labrador - Apply for Mortgage Broker License

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Procedure

Apply In-Person:

1. To Apply for Mortgage Broker License, the applicant has to approach the Mortgage Brokers Association link
2. An application form will be provided to the applicant by the concerned officer.
3. The applicant has to fill in all the necessary details in the application form. (Incomplete applications are not accepted)
4. Make sure that the applicant has attached all the necessary documents that are mentioned in the “Required Documents” section of this page.
5. The applicant has to attach the photocopies of the required documents along with the application form while submitting.
6. Submit all the documents with the completed form to the concerned officer.
7. The applicant has to pay the prescribed fee as requested by the authority.
8. After receiving the application, the concerned authority will check the submitted application and document set. If all are in place, the application will be accepted.
9. Then the application will be processed further. All the updates on the application status will be sent via SMS to the applicant’s mobile number.
10. Once the process gets completed, the applicant gets a call from the office regarding the application.
11. In many provinces, mortgage brokers are required to have errors and omissions insurance coverage. Obtain the necessary insurance coverage and provide proof of coverage as part of your application.
12. This entire process can be completed within 3 - 4 weeks or as per the timeline advised by the respective department authority.

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Required Documents

• Application form
• ID proof (Birth Certificate, driving license, etc)
• Address proof – (Driving license, passbook, utility bill, etc)
• Educational Certificates
• Work Experience
• Criminal Record Check
• Financial statement
• Any other documents (If required)

Office Locations & Contacts

Mortgage Brokers Association
7326 10th Street NE, Suite 310 | Calgary, AB T2E 8W1
Phone: (587) 774-9828
Email - [email protected]
Contact link

Eligibility

• Any individual who intends to Apply for Mortgage Broker License is eligible to make this application.

Fees

• The applicant has to pay the prescribed fee as requested by the authority.

Validity

Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever

Documents to Use

Please attach documents that can be used by people. e.g. links

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

• This entire process can be completed within 3 - 4 weeks or as per the timeline advised by the respective department authority.

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

• Applicants must complete the application form before submitting it. Incomplete applications will not be accepted.
• Applicants must provide genuine information while applying for this procedure.

Required Information

• Name
• Address
• Contact number
• Business address
• Fax
• Email ID
• Nationality
• Age
• Business details
• Mailing address
• Declaration
• Date
• Signature

Need for the Document

• A Mortgage Broker License in Canada is a regulatory authority that allows an individual or organization to act as a mortgage broker and facilitate mortgage transactions between borrowers and lenders.
• Mortgage brokers serve as intermediaries between borrowers seeking mortgage financing and lenders providing mortgage funds.

Information which might help

• A mortgage broker helps borrowers navigate the mortgage market by assessing their financial situation, understanding their needs and goals, and then connecting them with suitable mortgage lenders.
• They assist borrowers in obtaining the most favorable mortgage terms and conditions available based on their specific circumstances.

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

link

Others

Here are some of the benefits of having a mortgage broker license in Canada:

• The ability to help borrowers find the best mortgage for their needs.
• The ability to earn a commission on the mortgages you arrange.
• The ability to build a career in the financial services industry.