Description
Study Time – 38 hours minimum
Passing Grade – 70%
Delivery – Online Live Webcast
Language – English
Live webcast courses are perfect for you if you prefer the live course experience but do not want to attend a physical in-class setting. During the web class you will be able to ask questions and get immediate response from the instructor.
What is the Private Mortgages Course (PMC)?
The Private Mortgages Course (PMC) is a course designed to teach students everything they need to know about private mortgages in Ontario.
Who needs to take the Private Mortgages Course (PMC)?
The Private Mortgages Course (PMC), REMIC’s mortgage agent level 2 course, is a mandatory licensing course that licensed mortgage agents (level 1) and mortgage brokers must complete in order to upgrade to the level 2 mortgage agent licence or maintain their mortgage broker licence.
What is the mortgage agent level 2 licence?
In addition to financial institutions that are CMHC approved lenders under the National Housing Act, the level 2 licence authorizes licensees to deal and trade in mortgages with all mortgage lenders, including mortgage investment companies, syndicates, private individuals, agents, brokers, and brokerages.
How long is the course certificate valid for?
The course is valid for licensing for 2 years from the date of completion.
What are the key dates?
Any licensee wishing to deal in private lending should take note of the following key dates:
- April 1, 2023: new licensing classes come into effect
- October 31, 2023: deadline to pass the Private Mortgages Course (PMC) Challenge Exam
- March 31, 2024: deadline to complete the Private Mortgages Course (PMC)
