What is the regulatory body for mortgage professionals in Ontario?

The Financial Services Commission of Ontario (FSCO) serves as the regulatory body for mortgage professionals in Ontario. This organization is responsible for overseeing and regulating various financial services, including mortgage brokerage, in the province. FSCO sets standards for the conduct of mortgage professionals to ensure a fair, transparent, and safe marketplace for consumers. It also administers the licensing process, maintains a public register of licensed entities, and enforces compliance with regulations, thereby protecting both consumers and industry participants.

The other options do not fulfill the role of a regulatory body specifically for mortgage professionals. The Insurance Brokers Association of Ontario focuses on insurance professionals rather than mortgage brokers. The Ontario Mortgage Agency is involved in facilitating mortgage lending but is not the regulatory authority. The Ontario Financial Regulation Authority does not exist as a recognized entity and does not oversee mortgage professionals in Ontario. Therefore, the designation of FSCO as the governing body is key to understanding the framework within which mortgage professionals operate in the province.