12 | summer 2014 mbabc.ca MORTGAGEBROKER
update
Licensing Reciprocity
THE MBABC RECENTLY RECEIVED a query from a registered
broker member: My mortgage broker company opened up a branch
office in Alberta. I would like to obtain registration in Alberta so I can
do business there. What do I need to send to
RECA so I can get licensed
in Alberta without having to take the Alberta Mortgage Broker course?
We contacted the Registrar's staff to get clarification on this issue. It
advised that if a British Columbia broker who is registered under the
Mortgage Brokers Act wishes to become licensed in another province,
such as Alberta or Ontario, he or she would need to supply the
reciprocating jurisdiction with a form called a Reciprocity Information
Request Form. e form will be filled out by the Registrar's staff in
the mortgage broker's department, and will contain the following
information relating to the broker: legal name, any alias's, current
registration information, registration history, education history, and
most importantly, any history of official sanctions imposed on the
broker by the Registrar. Official sanctions are essentially Registrar's
Orders, and will not include any informal warnings. e senior
registration officer will sign and send the completed form to the
reciprocal licensing jurisdiction, e.g.
RECA or FSCO. is part of the
licensing process should be completed in about two weeks.
If you are a B.C. broker and you want to obtain a license in another
jurisdiction, contact the mortgage brokers department at
FICOM at
MortgageBrokers@ficombc.ca and ask for your licensing or registration
history. ere is no fee for this form.
Sidney Spit Success
THE SIDNEY SPIT Education and Networking Event was a great
success! Special thanks to
MBABC directors Deenu Patel and Kelly
Curtis for their hard work organizing the event, which attracted nearly
120 people who came to learn, share, and spend time with industry
peers at the Capital City Yacht Club.
Lawyers from Harper Grey, Nigel Trevethan and Steven Abramson,
provided an excellent and entertaining view of potential litigation