 Licensing & Renewals > Implementation of New Mortgage Associates Program
As part of the Real Estate Council of Alberta (RECA) and the Alberta Mortgage Broker’s Associations (AMBA) commitment to educating mortgage brokers, the Mortgage Associates Program education requirements will soon be enhanced.
These changes include increased competency based education for new mortgage broker industry members, better preparing them to serve the needs of borrowers and lenders.
The new Mortgage Associates Program will include two mandatory courses titled:
- The Fundamentals of Mortgage Brokerage
- The Practice of Mortgage Brokerage
Interested students must first complete & pass The Fundamentals of Mortgage Brokerage offered online through RECA. This nine-unit course includes a final examination. Once completed successfully, the student is then eligible to take The Practice of Mortgage Brokerage course offered through AMBA.
This course will be available online and in the classroom through an approved education provider. Completion of both courses fulfills the mortgage associate education requirements.
It is important to note that The Fundamentals of Mortgage Brokerage will be available late summer 2010, with The Practice of Mortgage Brokerage course offered in 2011. In the time between implementing The Fundamentals of Mortgage Brokerage and The Practice of Mortgage Brokerage, students must also successfully complete a practice orientated course, known as MAP 2. This abridged version of the current Mortgage Associates Program will be available concurrently with the implementation of The Fundamentals of Mortgage Brokerage course.
For further information please contact RECA or AMBA for details.
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