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.


Gord Appel (Chair)
Elected by mortgage broker licensees

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

Clarence Lee
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


Meeting
February 9, 2021 Agenda
December 11, 2020 Agenda

 



More Info: