Mortgage Broker Industry Council

On December 1, 2020, the Real Estate Amendment Act 2020 came into force, creating a new governance model for RECA, including a Board of Directors and four industry-specific Industry Councils.

RECA Industry Councils

There are four Industry Councils, one for each of the specific sectors within the industry. These are:

  • Mortgage Broker Industry Council
  • Residential Real Estate Broker Industry Council
  • Commercial Real Estate Broker and Commercial Property Manager Industry Council (includes rural/agri-business)
  • Residential Property Manager Industry Council (includes condominium management)

Each Industry Council is comprised of two members of the public appointed by the Minister of Service Alberta, and three licensees from that particular sector, elected by other licensees from that sector. The purpose of each Industry Council is to set and enforce standards of conduct for licensees and the business of licensees in order to protect consumers and promote the integrity of the industry, and to administer the Real Estate Act, the Regulations, the Bylaws, and the Rules. Each Industry Council may establish rules setting out the conditions for a person to become and remain a licensee of their particular industry sector, including the minimum standards for conduct and education requirements.

Industry Council members are appointed for 3-year terms, and can serve 2 terms consecutively. Section 7.1 of the Real Estate Act outlines the composition of the Industry Councils.


Second Annual Mortgage Broker Industry Council Spring 2022 Engagement Session (May 5, 2022)

Missed the recent online engage session? Watch it any time:

 

Other Engagement Opportunities with the Mortgage Broker Industry Council

Industry Council Email 
An email address has been created for stakeholders to contact the Mortgage Broker Industry Council. By sending emails to MortgageIC@reca.ab.ca, stakeholders can reach out to the Industry Council directly, and outside of specific consultations or other formal engagement opportunities.

Industry Council Webpage
Bookmark the Mortgage Broker Industry Council webpage at reca.ca/mortgageIC. Through this page stakeholders can access all Industry Council meeting agendas and minutes, a list of Industry Council Members, a list of Industry Council engagement opportunities, a list of past engagement activities, and any articles, consultations, or other communications from the Industry Council. The page will be updated regularly.

Consultations and Focus Groups
The Industry Council may direct RECA to consult on certain topics prior to making decisions. Stakeholders will be notified of all consultation opportunities through direct email, the Regulator newsletter, social media, and the RECA website.

The Mortgage Broker Industry Council will also host a Broker Forum and other informal groups to discuss the latest regulatory issues they are seeing day-to-day. If you are a managing broker or a broker delegate and have interest in attending these formal meetings with RECA, please email MortgageIC@reca.ab.ca.

 

Stakeholder Engagement Policy

Stakeholder engagement is a clear priority for RECA. At its March 5 meeting, the Board of Directors approved a Stakeholder Engagement Policy that sets the framework for why, how, and with whom the Board, the Industry Councils, and RECA Administration engages. Engagement will be timely, consistent, equal, meaningful, and transparent. This policy is to ensure you have the opportunity to have your voice heard by the Board and Industry Councils, and directly participate in the regulation of your industry.

Previous Engagement Opportunities with the Mortgage Broker Industry Council

2021 Online Engagement Session (May 27, 2021)


Clarence Lee (Chair)
Elected by mortgage broker licensees

Gord Appel 
Elected by mortgage broker licensees

Paul Bojakli (Vice Chair & Board Member)
Elected by mortgage broker licensees

Nkem Onyegbula
Appointed by the Minister of Service Alberta from the public

Guy Ouellette
Appointed by the Minister of Service Alberta from the public


For the most up-to-date decisions, see the Mortgage Broker Industry Council updates from the Chair in The Regulator (RECA’s quarterly newsletter).

The Regulator also includes updates from the other Industry Councils and RECA’s Board of Directors, as well as regulatory compliance advice for licensees.


2022

July 19, 2022 (special meeting) Agenda
June 10, 2022 Agenda
March 17, 2022 Agenda Minutes

2021

December 16, 2021 Agenda Minutes
September 28, 2021 Agenda Minutes
September 17, 2021 Agenda Minutes
July 7, 2021 Agenda Minutes
June 15, 2021 Agenda Minutes
May 5, 2021 Agenda Minutes
March 23, 2021 Agenda Minutes
February 9, 2021 Agenda Minutes

2020

December 11, 2020 Agenda Minutes

 



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