Mortgage Broker Association of British Columbia

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In most provinces across Canada consumers looking for the best mortgage have turned to the advice of a qualified mortgage broker. The services these brokers offer can save you tens of thousands of dollars. The reason these professionals are so effective is because they belong to a mortgage broker association which ensures that anyone performing the services of a broker are well versed in all the requirements.

Some people are under the impression that all mortgage brokers are equal when nothing could be further from the truth. In British Columbia for example when you speak with a broker you need to ask if they are a broker or a mortgage agent. The association allows brokers to have associates who have the academic skills necessary for processing mortgages but lack the practical experience. Since the only way to get practical experience is to do the actual work so the association has made it allowable for these mortgage agents under the close supervision of a mortgage broker to offer the service of mortgage lending acquisition in British Columbia.

Not only those, as a member of association, all the agents have to keep themselves up-to-date with the rules and regulations of mortgages in British Columbia and Canada by attending conferences and taking classes . The formal education to become a broker takes about a year to two years depending on your education background. When you are taking the training, you will see how the real transactions take place and how to do business with real estate agents. Since the association would like their associates represent them as professionals who are qualified with what they are doing.

If you are looking for a mortgage broker be sure to ask them if they are a member of the mortgage broker association and if not then you should never do business with them. They are not authorized to conduct mortgage business in British Columbia since the role of broker is very critical in the real estate sector all brokers must complete an extensive background check to make certain they are of the highest moral caliber.

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