Understanding the Different Levels of Mortgage Licensing in Ontario

Understanding Mortgage License Levels in Ontario

In Ontario, the mortgage industry is regulated by the Financial Services Regulatory Authority (FSRA). The FSRA is responsible for licensing all mortgage brokers, agents, brokerages, and administrators, a mandatory requirement for dealing and trading in mortgages throughout Ontario. The FSRA provides a centralized source for licensing and compliance requirements, regulatory updates, and educational information.

Mortgage Agent Level 1

The Mortgage Agent Level 1 license is the entry-level license in the mortgage industry in Ontario. As of April 1, 2023, the government and FSRA have implemented new licensing classes for mortgage agents and brokers. The Level 1 agent is authorized to deal and trade in mortgages with lenders that are financial institutions or approved under the National Housing Act, as described in regulation.

Mortgage Agent Level 2

The Mortgage Agent Level 2 license is the next step up from the Level 1 license. The specific details and requirements for this level of licensing are not immediately available, but it is expected to allow for a broader range of activities and responsibilities in the mortgage industry.

Mortgage Broker

The Mortgage Broker license is the highest level of licensing in the mortgage industry in Ontario. This license allows for a wide range of activities and responsibilities, including dealing and trading in mortgages throughout Ontario.


Understanding the different levels of mortgage agent licensing in Ontario is crucial for anyone looking to enter or navigate the mortgage industry. The FSRA provides all the necessary information and resources for understanding these licensing requirements and staying compliant with them.

If you are considering a career in mortgage brokering in Ontario, your first step is to take and complete the mortgage agent course. There are three providers. A full breakdown and review of each provider can be found here.