Mortgage Broker Compliance Overview
In New Brunswick, every person carrying on the business of brokering or administering mortgages is required to comply with the Mortgage Brokers Act, S.N.B.2014, c.41 and both rules, MB-001 Mortgage Brokers Licensing and Ongoing Obligations and MB-002 Mortgage Brokers Fees. The Act and the rules provide the legislative framework for the regulation of mortgage brokerages, brokers, associates and mortgage administrators in New Brunswick.
Brokerages, brokers, associates, and administrators are required to act in the best interests of the borrower. For specific details of the full legal responsibilities of each, select from the following options.