Mortgage CRM for British Columbia brokers: Ready for the Mortgage Services Act, not the one it replaces
A mortgage CRM for British Columbia now has to reflect the Mortgage Services Act: BCFSA licence levels instead of registrations, a principal broker behind every brokerage and branch, and licence categories that have to match what the brokerage offers. BC combines some of the highest property values in Canada with additional provincial property taxes, which means affordability scenarios and property transfer tax calculations get checked far more often per file.
Orientation, not legal or licensing advice. Rules change — confirm current requirements with BCFSA. Checked against official sources September 2026.
What should a mortgage CRM in British Columbia keep track of?
Who holds which licence level and category under the Mortgage Services Act, which principal broker supervises them, and the property transfer tax and speculation-tax questions that come up on nearly every BC file. Mortgage360 keeps licence details on each agent and office record, so a brokerage can see its structure the way BCFSA will ask about it.
- Regulator: the BC Financial Services Authority (BCFSA).
- Governing law: Mortgage Services Act (in force October 13, 2026, replacing the Mortgage Brokers Act).
- Mortgage brokerage.
- Principal broker.
- Mortgage broker.
- BC property transfer tax.
Who licenses mortgage professionals in British Columbia
The Mortgage Services Act replaces the old registration model with three licence levels and four licence categories. Under it, nobody may offer mortgage services for payment unless licensed as a principal broker or mortgage broker and working for a licensed brokerage.
- Mortgage brokerage — The firm licence. A brokerage cannot operate without a principal broker, and each branch office needs one.
- Principal broker — Supervises licensees and is responsible for the control and conduct of the brokerage's mortgage business.
- Mortgage broker — Provides mortgage services under a principal broker's supervision. Replaces the old submortgage broker registration.
- Licence categories — Dealing, trading, administering or lending. The categories a brokerage offers must match what its principal broker's licence allows.
The BC compliance calendar
BCFSA required everyone registered under the old Act to complete transition education before the switch-over, and the entry route for new applicants changed in August 2026.
- Existing registrants had to finish MSA transition education by September 22, 2026 to have their registration carried over to a licence on October 13, 2026. BCFSA says those who did not will be considered unlicensed when the Act comes into force.
- Principal brokers take MSA: The New Principal Broker (parts one and two); mortgage brokers take MSA: The New Mortgage Broker.
- New applicants since August 4, 2026 take the Mortgage Services Licensing Course and exam.
- Record-keeping is set out in the MSA Rules and Regulation. We have not reproduced a retention period here — confirm the current requirement with BCFSA.
BC property transfer tax
BC's version of a land transfer tax is the property transfer tax, with exemptions for qualifying first-time buyers. Foreign buyers can owe an additional property transfer tax, and some owners pay the annual speculation and vacancy tax.
- The British Columbia transfer-tax calculator runs the figure for a specific price.
- Speculation and vacancy tax: BC's annual tax, by property value and owner status.
- Additional property transfer tax: BC's tax on purchases by foreign buyers.
- The British Columbia rates board is a preview with sample rates, not live lender quotes.
What the CRM keeps on the record for BC
None of this needs a separate compliance spreadsheet. The dates and statuses above sit on the agent, office and deal records they belong to, and the funded book carries its maturity dates forward for renewals.
- Licence level on each agent record — principal broker or mortgage broker — rather than the retired submortgage broker label.
- Maturity dates carried from funding, so renewals are worked before the lender reaches the client.
- Property transfer tax and speculation-tax scenarios shareable with a client from the deal.
- Notes on each file recording who reviewed it, for when BCFSA asks.
A 30-minute walkthrough using your own deal flow — not a canned demo file.
Frequently asked
Who regulates mortgage brokers in British Columbia?
The Mortgage Services Act replaces the old registration model with three licence levels and four licence categories. Under it, nobody may offer mortgage services for payment unless licensed as a principal broker or mortgage broker and working for a licensed brokerage. Treat this as orientation, not legal or licensing advice, and confirm current requirements with BCFSA.
What licence do you need to arrange mortgages in British Columbia?
Mortgage brokerage: The firm licence. A brokerage cannot operate without a principal broker, and each branch office needs one. Principal broker: Supervises licensees and is responsible for the control and conduct of the brokerage's mortgage business. Mortgage broker: Provides mortgage services under a principal broker's supervision. Replaces the old submortgage broker registration. Licence categories: Dealing, trading, administering or lending. The categories a brokerage offers must match what its principal broker's licence allows.
What transfer tax does a buyer pay in British Columbia?
BC's version of a land transfer tax is the property transfer tax, with exemptions for qualifying first-time buyers. Foreign buyers can owe an additional property transfer tax, and some owners pay the annual speculation and vacancy tax. Our British Columbia calculator runs the figure so you can share it with a client.
How long do British Columbia mortgage records have to be kept?
Record-keeping is set out in the MSA Rules and Regulation. We have not reproduced a retention period here — confirm the current requirement with BCFSA. Separately, FINTRAC has required mortgage brokers to keep identity and transaction records for at least five years since its mortgage-sector obligations took effect on October 11, 2024.
Official sources for British Columbia
Every licensing and record-keeping statement on this page comes from these pages. Where none of them stated a rule, the page says to confirm with BCFSA instead of guessing.
- BCFSA — Mortgage Services Act
- BCFSA — licensing levels and categories
- BCFSA — MSA transition
- BCFSA — MSA education
- BCFSA — MSA rules and regulation
- Government of BC — property transfer tax
- FINTRAC — obligations for mortgage administrators, brokers and lenders
Calculators for British Columbia
- BC property transfer tax
- Speculation and vacancy tax — BC's annual tax, by property value and owner status.
- Additional property transfer tax — BC's tax on purchases by foreign buyers.
- British Columbia rates board — preview, sample rates
Keep reading
Contacts, deals, renewals and the model behind them.
How the Canadian platforms compare.
Regulator and licensing notes for all ten provinces.
BC property transfer tax
Preview with sample rates.
Identity, records, retention and audit packs.
See your British Columbia pipeline in Mortgage360
Thirty minutes with your own deal flow. If it is not a fit we will tell you.