All courses are available in online format, so you can update and upgrade your skills on your schedule, at your pace, on your terms.
Select a course from the list below:
Practice of Mortgage Brokerage Course (Alberta Licensing)
In order to become licensed as a mortgage associate, it is required for one to complete the online Mortgage Associates Program (MAP).
The MAP consists of The Fundamentals of Mortgage Brokerage Course1 and The Practice of Mortgage Brokerage Course2. The Fundamentals course is offered through the Real Estate Council of Alberta (RECA)3 and The Practice course is offered through the Alberta Mortgage Brokers Association (AMBA)4. It is mandatory to complete both courses and exams associated with each course within a year from purchasing The Fundamentals of Mortgage Brokerage course.
To successfully pass the first half of the course, one must receive a score of 70% or higher on the final exam. If one doesn’t complete the exam successfully, then there is one re-write available at a fee of $150+GST in addition to the sitting fee at each exam centre which can range from $40 to $80.
If a student doesn’t complete the final exam within the first two attempts, then the student is required to take the course again at the full price5.
The completion of RECA’s course is required before one can start the AMBA course. Every Monday, RECA sends the details of the individuals that have completed their course to the Education Manager at AMBA. The AMBA Education Manager will then contact the students with the details to continue with the second half of the course.
NOTE: This course requires the Canadian Qualifier Plus 4x Calculator.
Mortgage Brokers, Insurance and the Law
NOTE: This course is optional and is not required to become licensed as a mortgage associate
This course analyzes actual Canadian court cases to help you understand why you need to offer the protection option and how to present it in a way that minimizes liability.
Classification: Professional Development. 5 AMP credits available.
1 The Fundamentals of Mortgage Brokerage course is the first half of the course that needs to be completed in the Mortgage Associates Program. For pre-requisite details, please have the student contact RECA directly at firstname.lastname@example.org or 403.228.2954. The cost is $1500+GST.
2 The Practice of Mortgage Brokerage course is the second half of the Mortgage Associates Program. The pre-requisite for this course is successful completion of the Fundamentals of Mortgage Brokerage Course, which means a student must obtain a score of 70% or higher. The cost is $1,500+GST.
3 RECA Alberta is the independent governing authority that sets, regulates and enforces standards for real estate brokerage, mortgage brokerage, property management and real estate appraisal professionals in Alberta.
4 AMBA is a non-profit association that represents the Mortgage Brokerage Industry. AMBA develops a standard of excellence for its members through advocacy, education, information and networking. AMBA promotes an ethical and sustainable mortgage industry for consumers and industry members. (source: www.amba.ca)
5 If the student has successfully completed the Fundamentals of Mortgage Brokerage Course and failed to pass the re-write exam for the Practice of Mortgage Brokerage Course, the student may only need to re-purchase “The Practice of Mortgage Brokerage Course” based on their expiry date and if they are not granted an extension by RECA.