Has the individual made a false statement or provided false information on the mortgage broker/agent licence application?
Principal brokers are required to verify any information that is provided to them before submitting the licence application to the Financial Services Commission of Ontario (FSCO). The principal broker must take reasonable steps to ensure that an applicant is suitable for licensing. Before submitting a mortgage broker/agent application: • Verify that the individual has successfully completed an approved mortgage broker/agent course. If the validity of the certificate or transcript is in doubt, call the course provider to confirm the information. • Ensure that the individual has at least two years of experience working as a licensed mortgage agent. (This only applies to mortgage broker applications). If you have any doubts, make sure you contact previous employers. • Make sure the applicant’s legal name is used on the application and is in the correct form. • Check the applicant’s photo identification to confirm his/her legal name and date of birth. • Consider undertaking additional veri
