Quick Pass Master’s BC Mortgage Broker Pre-Licensing Course helps students registered at the University of British Columbia’s Business School get their license by passing the exam.
A career in mortgage brokering offers many perks, including financial security and upside through incentive pay. There are no shortage of people who have achieved financial success through a fulfilling career in the mortgage brokerage industry.
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Course Overview
Completion of the BC Mortgage Broker Course and passing the exam is mandatory to be a licensed Mortgage Broker in BC. You must be licensed under the Mortgage Brokers Act to do mortgage brokering in British Columbia. With the mortgage brokerage license, you can provide the following services:
1. Represent different lenders’ mortgage products,
2. Commercial and Residential mortgage loans,
3. Construction loans, and Other functions
Course Outline & Schedule
- Format: Pre-recorded course videos, covering all 21 chapters
- Live Video Classes: Live video sessions will be held to provide extra instruction and Q&A on select chapters involving complex mathematical calculations (see below)
- Extra Assistance: Access to instructor through phone, Zoom video conference, email by appointment
- Final Exam Review:
- Review conducted through live Online Classes (video conference) with Q&A session
- Online Final Mock Exam to simulate real exam
- Format: Online video course
- Duration: 6 months
- Price: $650 for all course videos + final exam review + extra assistance
Chapter Overview
- Title Registration
- Mortgage Broker & Ethics
- Estates & Interest in Land
- Title Registration & Strata
- Pro Liability & Competition Act
- Law of Contract
- Law of Mortgages
- Financial Statement
- Intro to Mortgage Finance
- Interest Rates and Mortgages
- Mortgage Analysis
- Mortgage Underwriting & Qualification
- Management of Individual Loans
- Mortgage Loan Repayment & Refinance Options
- Appraisal
- Direct Comparison & Cost Approach
- Income Approach
- Marketing & Technology
- Negotiate & Alternative Dispute Resolve
- From Contract to Completion
- Blended Theory
Licensing Process - How to Get the Mortgage Broker Licence
In order to become a mortgage broker in British Columbia, University of British Columbia students need to take the following steps:
1. Register for the Mortgage Broker Course from the UBC Sauder School of Business
Although there are no pre-requisite admission requirements to taking the long-distance mortgage broker course from the UBC Sauder School of Business, there are complicated mortgage calculations that are involved. Moreover, because this mortgage broker course is only available on-line without lectures it may difficult to understand all of the concepts and equations without the proper help. This is why Benson Wang recommends that students work with BC Real Estate Tutors for faster results. During the course you have to complete and submit 20 assignments over a 10 week period.
2. Pass the Final Exam to Complete the Course
Take a multiple choice exam. You are given 3 hours for the exam and must have answer 65% of the questions to pass. You may choose to take a paper exam held twice a year, or electronic exam, held twice per weekday.
3. Get Hired by a Mortgage Brokerage
After you successfully passed your mortgage course, your journey to becoming a mortgage broker can finally begin. However, before you can apply for a sub-mortgage broker license, the Mortgage Broker Act indicates that you must first seek authorization by a licensed mortgage brokerage.
4. Apply for a Sub-Mortgage Broker License
Once you have been hired by a mortgage brokerage, the next step is to apply for a sub-mortgage broker license. Generally, you can apply for this license through the website of the BC Financial Institutions Commission. Remember to have your brokerage or the name of your employer on you when you apply as this information will need to be provided on the application.
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