What level of government is responsible for licensing mortgage professionals?

The responsibility for licensing mortgage professionals lies at the provincial level of government in Canada. Each province and territory has its own legislation and regulatory bodies that govern the licensing and conduct of mortgage professionals, such as mortgage brokers and agents. This decentralized approach allows each province to tailor its regulations to the specific needs and conditions within its jurisdiction, ensuring that practitioners meet relevant standards for competence and ethics in the mortgage industry.

The federal government, while it sets overarching financial regulations and policies, does not directly license mortgage professionals. Moreover, municipal governments typically handle local governance matters and do not engage in licensing or regulating professionals in this field. The term "national" in relation to government is often used interchangeably with federal but does not apply to the level of licensing for mortgage professionals, which is distinctly managed at the provincial level.