On Jul. 14, CAN BC FSA reported Mortgage Services Act approval.
CAN BC FSA reported on transition to Mortgage Services Act (MSA), see #262567.
Document dated Jul.14, 2025, received from CAN BC FSA Jul. 17, summarized Jul. 21.
Overview
The transition to the new MSA from the existing Mortgage Brokers Act (MBA) has begun, which means the mortgage services industry has 15 months to transition.
CAN BC FSA advise that registered mortgage brokers will need to complete certain activities, like transition education courses, before the MSA becomes effective.
Transition activities' details, including courses, will be shared by CAN BC FSA shortly.
Effectiveness
The MSA is effective on Oct. 13, 2026, and will repeal and replace the outdated MBA.
