Mortgage Broker Fundamentals Part 2: Conducting Business in a Way that Meets Regulatory Requirements
| Title: | Mortgage Broker Fundamentals Part 2 - November |
|---|---|
| Location: | Delivered in an Interactive Zoom Environment |
| Start date: | 21 November, 2023 |
| Cost: | $299.00 for members or $299.00 for non-members |
About this course:
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 November 21, 23, 28, & 30
Enrollment fees: $299 +GST
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