Plan also flags fraud, AI and licensing gaps
The Mortgage Broker Regulators’ Council of Canada (MBRCC) has identified private lending, mortgage fraud, artificial intelligence and cross-jurisdictional brokerage issues as key priorities in its 2026–2029 Strategic Plan.
The plan reflects the risks regulators are watching, including rising economic uncertainty and the continued use of alternative or private mortgages. MBRCC said members will share information and data more regularly to track market trends, emerging risks and licensee misconduct.
MBRCC is also developing a memorandum of understanding among members to support information sharing on licensing, supervision and enforcement. The council said the goal is to help regulators respond to issues more quickly and improve oversight.
"Our 2026–2029 Strategic Plan reflects our shared commitment to collaboration and stronger regulatory coordination. By working together, we aim to enhance consumer protection and respond effectively to evolving risks and trends in the sector,” MBRCC chair Antoinette Leung said.
Another focus of the plan is regulatory consistency for brokerages operating in more than one jurisdiction. MBRCC said members will work with stakeholders to identify operational issues that could benefit from a consistent approach across provinces, including licensing requirements, co-brokering arrangements and trust account operations.
The plan also includes measures tied to labour mobility and professional standards. MBRCC said it will review and update its competencies and curriculum, and develop consistent continuing education topics across jurisdictions. The council said the intended outcome is to support skilled mortgage professionals and improve consistency across the sector.
For consumers, the plan includes an awareness initiative focused on mortgage brokering services and mortgage products. MBRCC said the aim is to help borrowers assess whether a mortgage is right for them.
The new strategy follows several initiatives completed during the previous 2023–2026 plan cycle, including the publication of principles for mortgage product suitability assessments, a review of private mortgage lending, guidance on errors and omissions insurance obligations for entities operating in multiple jurisdictions, and work on continuing education requirements.
MBRCC is a forum for Canadian mortgage broker regulators to collaborate on regulatory issues. Its members include representation from all Canadian provinces except Prince Edward Island.
