Last reviewed: 16 September 2026
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How New Brunswick licenses mortgage brokers: the FCNB's four-category framework
Our overview of Canadian mortgage broker regulation notes that provinces beyond the largest four generally regulate mortgage brokering through "a government financial-services office." New Brunswick is one of those provinces, and — like Saskatchewan — its regulator oversees mortgage brokering as one line item inside a much broader financial-services mandate.
The governing law: in force since April 1, 2016
New Brunswick mortgage brokering is governed by the Mortgage Brokers Act, S.N.B. 2014, c.41, which came into force on April 1, 2016, along with Rule MB-001 (Mortgage Brokers Licensing and Ongoing Obligations) and Rule MB-002 (Mortgage Brokers Fees). Anyone carrying on the business of brokering or administering mortgages in the province must comply with it, administered by the Financial and Consumer Services Commission (FCNB) through its Director of Consumer Affairs.
Four licensed categories, and a minimum age of 19
The Act licenses four categories: a mortgage brokerage (the firm), a mortgage broker and a mortgage associate — both individuals, with an associate authorized by and working under a licensed brokerage — and a separately licensed mortgage administrator for firms servicing mortgages on an investor's behalf. An applicant for any individual category must be at least 19 years old and a resident of Canada.
Associate first, broker only after 24 months
A mortgage associate applicant must complete the FCNB-approved Mortgage Associate education course and apply for an associate licence within three years of finishing it. Advancing to mortgage broker status requires at least 24 months of experience as a licensed mortgage associate within the preceding 36 months, on top of a separate broker-level education and examination requirement — the same basic associate-then-broker structure this Library has already covered in Manitoba and Saskatchewan, each with its own specific course, provider, and timing.
Financial security: case by case, not a fixed dollar figure
Unlike Manitoba's flat $100,000 surety bond for a full mortgage broker, New Brunswick sets a brokerage's financial security requirement case by case rather than at one fixed statutory amount. The one fixed figure in the framework applies specifically to mortgage administrators, who must maintain a minimum of $25,000 in working capital (or a higher amount FCNB determines necessary) — a distinct mechanism from a surety bond, though serving the same basic backstop purpose.
A mandatory 2026 continuing education course
Every licensed mortgage broker and associate must complete continuing education from time to time as FCNB's Director of Consumer Affairs approves it. For 2026 specifically, the Director approved a mandatory New Brunswick Continuing Education Course for every licensed broker and associate, available online starting January 21, 2026 — the same general pattern as the mandatory renewal cycles covered in our US continuing-education explainer, applied to a different jurisdiction and a different specific course.
What an active FCNB license does and doesn't tell you
FCNB's public list of licensed mortgage brokerages, brokers, associates, and administrators confirms current, active status in the specific category checked, as of the date checked. It doesn't tell you whether a specific lender relationship has been disclosed to you in writing — see our companion explainer on conflict-of-interest disclosure requirements in Canada for that distinct point.