How to verify your mortgage broker is licensed in Ontario (2026)
Before sharing any personal financial information with a mortgage professional, you should verify they are licensed. In Ontario, mortgage brokers and agents are regulated by the Financial Services Regulatory Authority (FSRA).
Why verification matters
FSRA took 100 enforcement actions against mortgage professionals in 2024–25 — nearly double the previous year. Six licences were revoked, and $860,925 in penalties were issued. If you've worked with an unlicensed operator, you do have recourse: file a complaint with your provincial regulator (e.g., FSRA in Ontario), report to the Canadian Anti-Fraud Centre, contact the brokerage's principal broker, or seek legal counsel. But the best protection is to verify before you share any personal information.
How to check if your mortgage broker is licensed
Option 1: Use Brkrr's free verification tool
The fastest way to check is to use Brkrr's free licence verification tool. Enter your broker's name or licence number and we'll search our database of licensed agents, cross-referenced against provincial registries.
Option 2: Check FSRA directly
Visit FSRA's licence check page and search by name or licence number. Look for:
- Licence status: Should say "Authorized to Sell"
- Licence type: Mortgage Agent Level 1, Level 2, Broker, or Principal Broker
- Brokerage: The licensed brokerage they work under
- Expiry date: Their licence should not be expired
What to look out for
- No licence number: Every licensed mortgage professional in Ontario has an FSRA licence number
- Expired licence: An expired licence means they cannot legally arrange mortgages
- No brokerage affiliation: All agents and brokers must work under a licensed brokerage
- Pressure to skip paperwork: Licensed professionals follow regulated processes
What's the difference between a mortgage broker and an agent?
In Ontario, FSRA issues several licence types:
- Mortgage Agent Level 1: Can arrange mortgages under a broker's supervision
- Mortgage Agent Level 2: Can work with all lender types including private lenders and individuals. Requires 12+ months experience as a Level 1 agent and completion of an approved Private Mortgages Course
- Mortgage Broker: Can supervise agents and arrange mortgages
- Principal Broker: The designated head of a brokerage
All types are licensed and regulated. The key difference is the level of supervision required.
What to do if your broker isn't licensed
If you cannot verify your mortgage professional's licence:
Find a verified mortgage agent
Every agent on Brkrr is cross-checked against their provincial regulatory registry.