Mortgage Agent 1 | MORT 201

In this course learners will explore the mortgage agent framework, laws related to practicing as a mortgage agent, mortgage transactions, and ethical behaviour to detect and prevent mortgage fraud. Learners address the mortgage agent’s professional activities; as knowledge and familiarity of the duties and responsibilities of an agent and the mortgage broker relationship are essential for a mortgage brokerage industry member. 

Course Rationale 

This 42-hour course has been accredited by Financial Services Regulatory Authority of Ontario (FSRA) as meeting the educational requirements for licensing as a Mortgage Agent – Level 1. The content was developed in accordance with the Mortgage Broker Regulators’ Council of Canada standards (MBRCC). This course provides learners with core competencies of becoming a licensed Mortgage Agent – Level 1 in Ontario. 

It is crucial for learners entering the industry to understand the nature and requirements of such a relationship and the conditions under which they may apply. 

Learners who successfully complete the MORT 201 Mortgage Agent 1 will need to get employed by a Mortgage Broker to become licensed as a Mortgage Agent 1. Only the Mortgage Broker who employs the learner may apply to FSRA to begin your Mortgage Agent 1 License. 

https://www.fsrao.ca/industry/mortgage-brokering/new-licensing-requirements-transition-information-and-resources#magent.

By the end of this course, learners are able to:

1. Explain the mortgage agent framework. 

2. Discuss the laws which relate to a mortgage agent for compliance. 

3. Demonstrate management capabilities necessary for an effective mortgage agent relationship. 

4. Execute mortgage transactions. 

5. Identify methods to detect and prevent mortgage fraud. 

6. Discuss how the role of the mortgage agent relative to the overall management of an individual mortgage brokerage 

7. Employ acts of ethical and responsible behaviours. 

Course Delivery

Learners attend facilitator-led live sessions, complete independent course work, complete assignments as well as write a final exam. Each week will comprise of asynchronous and synchronous sessions and the allocated timing is scheduled for learners to spend each week on their learning either self-directed and according to the course critical path. Emphasis is placed on the learner attending the facilitator-led live sessions is encouraged. All the specifics of the course are listed on the critical path.

Language of Instruction 

The Mortgage Agent Course components and support services are delivered in English. Learners should possess strong English writing, comprehension and speaking skills to be able to successfully complete the course. 

Admission Requirements: There are no admission requirements for this course. Learners can register and pay for the course under course curriculum on this page.

Learning Management System: Once registered learners will use the same N number to Login to your course using https://learn.humber.ca/ultra/institution-page 

Using your Humber login credentials, sign-in using the format username@humber.ca and your existing password (note: this will be the same username and password as the CPL Learner Portal and MyHumber.ca with the addition of @humber.ca).

Example: If your username is abc0043, then the username will be abc0043@humber.ca

If your username is n00034567, then the username will be n00034567@humber.ca

Recommended that you read chapter 1 & 2 prior to 1st day of class. Textbook can be purchased from the Humber Bookstore: Link to Humber's Bookstore 

• MORT 201:  Mortgage Agent, White, Joseph J., Mortgage Brokering in Ontario – Agent Edition, 15th Edition, Real Estate and Mortgage Institute of Canada. 

• HP10B II Hewlett-Packard calculator. 

Mortgage Agent 1 course is OSAP Eligible

Learners enrolled in an Ontario Student Assistance Program (OSAP) approved micro-credential program can apply for financial assistance through OSAP for Micro-credentials. Eligible students must apply for funding for each course separately by following the step-by-step application process. Applications for OSAP for Micro-credential assistance cannot overlap with another micro-credential study period (funding for multiple courses cannot be applied for concurrently).

ELIGIBILITY REQUIREMENTS

To be eligible for funding through the OSAP for Micro-credentials courses, you must meet the criteria below as well as certain residency and income requirements specified on the OSAP website:

• Registered in an OSAP-approved micro-credential
• Must be a resident of Ontario as defined by OSAP program
• Previous OSAP loans must be in good standing (i.e. you have not defaulted on a student loan and/or you are not restricted from participating in financial aid programs)

Applying for OSAP funding for Humber micro-credential courses

1. Confirm that the Humber micro-credential course you want to take is OSAP-approved.
2. Log in to your OSAP account. If this is your first time applying for OSAP, you may need to create an account.
3. Select and complete the micro-credential OSAP application. You can only be funded for one course at a time through OSAP.
4. The deadline to apply for OSAP is the last day of your micro-credential course.
5. Scan, upload, and submit all required supporting documentation to your OSAP application.
6. Enrol in and pay for the micro-credential course you wish to take (if you have not already done so). Please note that funding is sent directly to the learner by the National Student Loans Centre for Micro-Credentials. Payment for the course must be made at the time of registration.
7. Once the course has started, we will confirm your enrolment and OSAP funds will be released to your bank account.
8. a student cannot receive OSAP funding for a micro-credential study period if it overlaps with another one of their micro-credential study period in which they are concurrently receiving micro-credential OSAP funding. So students can only receive micro-credential OSAP funding for one course at a time.

If you have any questions, please use the Humber Contact Form or call 416-675-3111 option 4. (Monday to Friday 8:30am to 4:30pm excluding holidays).

If you have questions about repayment, please contact the National Student Loans Service Centre for OSAP Micro-credentials program at 1-888-869-2896