Mortgage Broker Fundamentals Part 2: Conducting Business in a Way that Meets Regulatory Requirements

The Mortgage Broker Fundamentals – Practical Applications Course is a class for new or aspiring brokers, and for persons who manage them. It provides practical knowledge and skills needed to function as a mortgage broker.

The course is split into two parts, the first part concerns practical matters a mortgage broker needs to know to operate in the field while the second addresses brokering practice requirements. The first part will make you a better and hopefully more successful broker. It will support what it takes for a broker to earn income. The second will protect you by better ensuring you are entitled to continue as a broker and to keep the income you earn. It will help keep you out of trouble with your clients, the regulator, and the courts.

The course is taught by a variety of senior brokers, experts, and others with considerable knowledge of the topics they address. It is better that a student learns from a variety of perspectives and hears a variety of knowledgeable voices.

Format: Interactive Online Class
Dates: Tuesdays and Thursdays from 9:00AM-1:00PM on October 8, 10, 15 & 17.
Enrollment fees: $279 +GST for members; $329 +GST for non-members.
Part 2 includes:

• a review of Mortgage Brokers Act and Regulations requirements including:
  • registration and renewal
  • conflict of interest disclosure (Form 10)
  • investor/lender disclosure (Form 9)
  • record keeping
  • mortgage administration agreements
• a review of BPCPA cost of credit disclosure requirements
• an examination of errors and omissions insurance
• an examination of the IRIS portal (BCFSA)
• a discussion of standard of conduct requirements
  • Mortgage Brokers Act
  • avoiding becoming a fiduciary
  • ethics
  • confidentiality and privacy
  • cybersecurity
• a review of Land Title Office requirements (reading a title and mortgage priorities)
• a discussion as to identifying and avoiding fraud
• an examination of marketing requirements and restrictions
• suggestions as to building a marketing plan
• a brief look at current live issues concerning the regulator, civil law, and criminal law