Compare Mortgage Agent License Education Courses Providers in Ontario

A Review and Comparison of Mortgage Education Courses in Ontario

Updated 2018. If you wish to become a licensed mortgage agent or licensed mortgage broker in Ontario, you now have choice. There are four providers of mortgage agent education. By passing this course you can be hired by a brokerage and apply to get a mortgage agent license, which is the first step to getting a mortgage broker license.

To compare mortgage agent courses in Ontario we’ve compiled a breakdown of the four providers that are licensed by the Financial Services Commission of Ontario (FSCO) to deliver the Ontario mortgage agent licensing course.All items have been researched and footnotes with links are provided at the bottom. All items have been researched and footnotes with links are provided at the bottom.

Ontario Mortgage Agent Course Providers below (Green items are typically the best of the bunch)

COURSE COST
REMIC
SENECA
MPC
CMBA
IN CLASS Course wt/ Textbook$365

(no tax)

[i]
$491.28

$297.20 + $130 textbook & HST)
[xvii]
$425

($369.60 + HST)

[xxiv]
$385

(no HST)

[xxviii]
ONLINE Course wt/ Textbook$345

(no tax)


[ii]
$538.11

$346.20 + $130 textbook & HST)

[xvii]
$425

($369.60 + HST)


[xxiv]
$448.50

($345 no hst + $90 textbook wt/ HST)

[xxix]
ONLINE Course w/o Textbook$298

(no tax)

[ii]
not available$375

($326.10 + HST)

[xxiv]
$345

(no hst)

[xxix]
Known Discount Codes022014CJ

$15 off
NoneNoneNone
ShippingFREE shipping within 2 business days

[iii]
$7.50 shipping within 4 - 7 business days

[xviii]
FREE shipping within 7 - 10 business days


[xxv]
FREE shipping within 10 business days

[xxix]
ABOUT
REMIC
SENECA
MPC
CMBA
Job Placement AssistanceYes, FREE

[iv]
NoNoNo
FSCO ApprovedYes

[v]
Yes

[v]
Yes

[v]
Yes

[v]
HRSDC ApprovedYes

[vi]
Yes

[xix]
NoNo
BBB AccreditedYes

[vii]
No

NoNo
Support
  • Help Line and Phone support

  • LiveChat on website and in course

  • 24/7 email support

[viii]
  • Help Line


[xx]
  • Phone support


[xxvi]
  • Phone support


[xxx]
Registration Bonuses

  • Free ebook, Agent's Path to Success

  • Free marketing video after passing the course

  • Free lead generation newsletter

  • Discounts on other courses

[ix]
NoneNoneNone
IN CLASS COURSES
REMIC
SENECA
MPC
CMBA
Full Online AccessYes

[x]
NoNoNo
In Class LocationsToronto & Mississauga
[i]
Toronto
[xxi]
Toronto & Mississauga
[xxv]
Woodbridge
[xxviii]
In Class Course Availability

  • M-F every week (4 x per month)

  • 2 Saturdays (1 x per month)

  • 5 Sundays (Every 5 weeks)


[i]

  • 16 Weeknights

  • 7 Saturdays







  • [xxi]

  • M-F monthly (1-2 x per month)

  • 5 Saturdays







  • [xxv]

  • M-F every month (1 x per month)

  • 2 Saturdays (no schedule)

  • Full weekends (1 x per month Sat & Sun)


  • [xxviii]
Length of In Class Courses

  • 1 week Mon to Fri

  • Mixed mode (2 Saturdays, 6 days online)

  • 5 Sundays

[i]
  • 3 months




[xxi]
  • 1 week Mon to Fri

  • 5 Saturdays



[xxv]

  • 1 week Mon to Fri

  • Mixed mode (2 Saturdays, 6 days online)

  • Two consecutive weekends
[xxviii]
Cost of Extending a Course$50 per month

[xi]
no extension - must re-register
[xxii]
no extension - must re-register

[xxvii]
$75 for 2 months

[xxix]
Switch to OnlineYes, anytime

Fee: FREE


[xi]
Only before the course start date

Fee: $25

[xxii]
NO




[xxvii]
Unknown
Switch Class DatesYes, before OR after course start date
Fee: $50
[xi]
Only before the 3rd class
Fee: $25
[xxii]
Only 14 days BEFORE course begins
Fee: $75
[xxvii]
Unknown
Withdrawal wt/ RefundYes, within 30 days of registration

Fee: $150 (includes cost of textbook)

[xi]
Only before the 3rd class

Fee: $25

[xxii]
Only 14 days BEFORE course begins

Fee: $150 plus HST

[xxvii]
Yes, BEFORE course begins

Fee: 25% admin charge
[xxix]
ONLINE COURSE
REMIC
SENECA
MPC
CMBA
Online CourseYes
[ii]
Yes
[xxi]
Yes
[xxv]
Yes
[xxix]
Online Course StructureStart right away
[ii]
Pr-set course dates
[xxi]
Start right away
[xxvii]
Start right away
[xxix]
Online Course Length1 week up to 6 months
[ii]
1 week
[xxi]
1 week up to 6 months
[xxvii]
1 week up to 6 months
[xxix]
Cost of Extending a Course$50 for 1 month, $75 for 2 months and $100 for 6 months
[xi]
no extension - must re-register
[xxii]
$75 for 2 months

[xxvii]
$75 for 2 months

[xxix]
Switch to In ClassYes, anytime

Fee: $50

[xi]
ONLY before the 3rd day of the course

Fee: $25
[xxii]
ONLY within 7 days of registration AND have not accessed the online content


[xxvii]
unknown
Withdrawal wt/ RefundYes, within 30 days of registration
Fee: $150 (includes cost of textbook)

[xi]
Only before the 3rd class
Fee: $150 ($25 + cost of textbook of $125
[xxii]
Within 7 days of registration AND must not have accessed online modules
Fee: $150 (includes cost of textbook)
[xxvii]
unknown
EXAMINATION
REMIC
SENECA
MPC
CMBA
Practice ExamYes
[xii]
NoYes
[xxvii]
No
Exam Format50 M/C Questions
[xii]
50 M/C Questions
[xxiiii]
50 M/C Questions
[xxvii]
50 M/C Questions
[xxix]
Exam CostFREE for all courses

[xii]
FREE for all courses

[xxiii]
FREE for all courses

[xxvii]
ONLY Free for in class courses
[xxix]
Exam Re-write CostFREE
[xii]
$125
[xxiii]
$75
[xxvii]
$150
[xxix]
Exam Dates for Online studentsOnce per week
[xii]
Once per month
[xxiii]
1-3 times per month
[xxvii]
Sporadic, must contact
[xxix]
Exam LocationsToronto, Mississauga and any college or university in Canada
[xii]
Toronto


[xxiii]
Toronto and specific colleges in Ontario


[xxvii]
Woodbridge


[xxix]
Time to Receive Exam ResultsWithin 24 hrs with exam score

[xii]
Within 2-3 weeks with exam score
[xxiii]
1 week, NO exam score

[xxvii]
2 weeks, NO exam score

[xxix]
Exam Review OptionYes, FREE
[xii]
Yes, FREENoNo
Rescheduling of ExamYes, FREE
[xii]
NoNoUnknown
Time to receive course certificateWithin 24 hours
[xii]
2 weeks
[xxiii]
2-3 weeks
[xxvii]
2 weeks
[xxix]
COURSE RESOURCES
REMIC
SENECA
MPC
CMBA
Textbook Updated for 2017Yes

[xiii]
Yes, uses REMIC textbook
[xxiii]
NoNo
Textbook Edition11th Edition (2017)
[xiii]
11th Edition (2017)
[xxiii]
5th Edition (year unknown)
[xxvii]
Unknown
CD Audiobook of TextbookYes
[xiv] [xv]
NoNoNo
Interactive Online QuizzesYes
[xvi]
Yes
[xxiii]
NoNo
Video TutorialsYes
[xvi]
NoNoNo
Getting a mortgage agent license or a mortgage broker license

To obtain a mortgage agent license or a mortgage broker license in Ontario requires the following, according to FSCO.  In order to be licensed as a Mortgage Agent, you must:

– be 18 years of age or older,

– be a resident of Canada,

– have a mailing address in Ontario that can receive registered mail (not a post office box),

– be authorized by a Mortgage Brokerage to deal in mortgages (this means be employed by a brokerage)

– work for only one Mortgage Brokerage,

meet or be exempt from the Mortgage Agent education requirements, and

– have a valid e-mail address (this is necessary for the application process)

Getting a mortgage agent license in Ontario is pretty straight forward, as long as you have a good brokerage to work for.  Finding one is sometimes difficult.  One of the benefits of the REMIC course is that they provide a free job placement assistance program.  Their course also has tips on how to choose a good brokerage.

All of the course providers have one thing in common: you will meet the educational requirements for getting a mortgage agent license in Ontario no matter which one you choose.  We hope that whatever course you take you find this career to be a good fit for you.

Mortgage Agent License Course Provider Review and Comparison Footnotes

[i] https://www.remic.ca/in-class-registration/

[ii] https://www.remic.ca/online-registration/

[iii] https://www.remic.ca/information-for-new-students/#complete-registration

[iv] https://www.remic.ca/job-finder/

[v] https://www.fsco.gov.on.ca/en/mortgage/Pages/approvedmaprogs.aspx

[vi] http://certification.esdc.gc.ca/lea-mcl/h.4m.2@-eng.jsp

[vii] http://www.bbb.org/kitchener/business-reviews/real-estate-schools/real-estate-and-mortgage-institute-of-canada-inc-remic-in-toronto-on-1233108

[viii] https://www.remic.ca/remics-fanatical-service-support/

[ix] https://www.remic.ca/free-bonus-gifts/

[x] https://www.remic.ca/information-for-new-students/#complete-registration

[xi] https://www.remic.ca/agentcourse/REMIC_Student_Academic_Policy_Handbook.pdf

[xii] https://www.remic.ca/information-for-new-students/#the-final-exam

[xiii] https://www.remic.ca/information-for-new-students/#topics-covered

[xiv] http://www.remic.ca/Learn/shop/index.php?route=product/product&product_id=742

[xv] http://www.remic.ca/Learn/shop/index.php?route=product/product&product_id=270

[xvi] https://www.remic.ca/information-for-new-students/#course-formats

[xvii] http://www.senecacollege.ca/ce/classes/MAP100.html

[xviii] http://www.bkstr.com/webapp/wcs/stores/servlet/HelpShippingReturnsView?langId=-1&catalogId=10001&storeId=332905&demoKey=d#shipRates

[xix] http://tools.canlearn.ca/cslgs-scpse/cln-cln/reea-mdl/reea-mdl-1-eng.do?nom-name=ON

[xx] http://www.senecacollege.ca/ce/info/contact-us.html

[xxi] http://www.senecacollege.ca/ce/business/real-estate/mortgage-agents-licensing.html#Courses

[xxii] http://www.senecacollege.ca/academic-policy/index.html

[xxiii] http://www.senecacollege.ca/ssos/find/MAP100/current/ce

[xxiv] http://www.mortgagecampus.org/Licensing.aspx

[xxv] http://www.mortgagecampus.org/Licensing.aspx

[xxvi] http://caamp.org/info.php?pid=106

[xxvii] http://www.caamp.org/meloncms/media/Lic%20Course%20Policies%202013.pdf

[xxviii] http://imba.ca/professional-development/mortgage-agent-licensing-course/

[xxix] http://imba-professional-development.ca/

[xxx] http://imba.ca/contact/

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