Here is the step-by-step process for individuals to become licensed as a mortgage associate in Alberta.
Step 1: Ensure you have met the prerequisites.
As a minimum, applicants must have a Canadian high school diploma or equivalent; be fluent in English; and, be at least 18 years old. For further information on meeting the licensing prerequisites, please click here.
Step 2: Ensure you have met the education requirements.
Enroll in the first course in the Mortgage Associates Program (MAP), The Fundamentals of Mortgage Brokerage. This is an online course available through RECA Education on the RECA website (www.reca.ca). Following successful completion of the course and final exam, enroll in the second MAP course, The Practice of Mortgage Brokerage. This is an online course or classroom course available through Alberta Mortgage Brokers Association (AMBA). Completion of the education requirements includes passing the final exams, and must be done within one year from enrollment in the first course.
Step 3: Obtain a Certified Criminal Record Check (CCRC).
You are required to obtain a CCRC from the Royal Canadian Mounted Police in order to become licensed as a new industry member. Ensure RECA receives your CCRC no more than six months in advance of when you intend to become licensed for the first time. For full details on how to obtain a CCRC, please click here.
Step 4: Obtain employment with a brokerage.
You will need to be employed by a brokerage before you can deal in mortgages. This includes becoming registered with that brokerage. In order to become registered with that brokerage by RECA, you will need to complete an Associate/Associate Broker Application for Licence and Registration and have it commissioned by a Commissioner of Oaths. Your broker will complete the broker acknowledgement section of your application for licence and registration. Note: you must apply for your mortgage licence within one year of completion of your education requirement. Your date of completion is the date of passing the last final exam in the Mortgage Associates Program.
Step 5: Your application is processed.
Your broker will process your application online using the RECA Online licensing system (broker-only access). The application is only valid for 30 days. Therefore, the commissioned application forms must be processed through a brokerage using RECA Online within 30 days or a new form, more recently dated, form will be required.
Step 6: Ensure you are licensed and registered.
Prior to dealing in mortgages, ensure you are licensed and registered. To do so, use the “Search for an Industry Member” button on the RECA website at www.reca.ca, using your last name as the search term. If your name does not appear in the results, or it appears in the results without a green light beside it, you are not yet authorized (licensed and registered) to deal in mortgages. If that is the case, please contact with your broker immediately.
For additional information on eligibility, education requirements, certified criminal record check and suitability issues click on the links below.
Certified Criminal Record Check