Ontario review recommends expanding lender access for Level 1 mortgage agents

Ontario may allow entry-level mortgage agents to place insured mortgages with a wider range of lenders, including those approved under the federal Protection of Residential Mortgage Insurance Act, expanding consumer options without added risk. The review also recommends enhancing education for Level 1 agents, improving supervision tools, strengthening private mortgage standards, permitting team names with clear brokerage ID, and promoting clearer mortgage documents.