How to Switch Mortgage Brokerages in Ontario (2026): The Full Process

Switching mortgage brokerages in Ontario is something most agents do at least once in their career — whether they're chasing a better split, stronger mentorship, or a culture that actually fits. The good news: FSRA's process for transferring your mortgage agent licence to a new brokerage is well-defined, and with some planning you can move without losing deals or burning bridges. Here's everything you need to know. See also licensing details and our questions to ask before joining a new brokerage.

The short answer

To transfer your mortgage agent licence in Ontario, your new brokerage submits a sponsorship change to FSRA on your behalf — you don't file it yourself. Before that happens, you should give your current brokerage proper notice, review your independent contractor agreement for notice periods and any restrictive clauses, and have a plan for deals already in progress. The mechanics are handled through the FSRA licensing portal; the harder parts are the practical and contractual ones.

When and why agents switch brokerages

There's no single right time to switch, but common catalysts include:

• Outgrowing the training.. You've funded enough deals that new-agent hand-holding has stopped, but the brokerage hasn't grown with you — no mentorship, no live coaching, no continuing development.
• Commission structure no longer makes sense. Your volume is up but your split isn't moving, or fees you didn't fully understand at the start are quietly eroding your take-home. (More in commission splits explained.)
• Culture or leadership change. Brokerage ownership changes hands, a principal broker you trusted leaves, or the team dynamic shifts in a direction that doesn't work for you.
• Wanting more — or less — support. Some agents switch toward a more independent model as they grow; others find they need more structure than their current brokerage provides.
• Simple opportunity. A better fit comes along. That's reason enough.

Step 1 — Read your independent contractor agreement before you do anything

Before you give notice or make any calls, pull out the contract you signed with your current brokerage. Most agent agreements are independent contractor agreements, not employment agreements, but they often contain clauses that affect your transition:

• Notice period. Many contracts specify how much notice you need to give — often 2 to 4 weeks, sometimes more. Failing to honour this can create friction and, in rare cases, disputes.
• Clawback provisions. Some contracts include provisions that let the brokerage recover a portion of commissions on deals that funded under their roof but within a certain window. These vary widely — check the language carefully.
• Non-solicitation clauses. It's common to see language restricting your ability to actively solicit clients you served at the brokerage, or to recruit colleagues, for a defined period after leaving. Courts have narrowed what's enforceable in contractor contexts, but these clauses are worth understanding before you act.
• Deal ownership and pipeline. Some agreements address who "owns" pending deals — read this closely.

If anything is unclear, it's worth a short conversation with a lawyer before you hand in your notice. This is especially true if you have a large pipeline or have received any brokerage-funded leads.

Step 2 — Give proper notice to your current brokerage

Once you know what your agreement requires, give notice in writing — email is fine, a letter is better. Keep the tone professional. The mortgage industry in Ontario is smaller than it looks, and you'll cross paths with former colleagues and principal brokers at lender events, referral networks, and industry associations. A clean exit protects your reputation.

Let your principal broker know you're transitioning. They will need to complete their side of the FSRA sponsorship change, so a heads-up gives them time to do it properly rather than having it arrive as a surprise through the licensing portal.

Step 3 — Have your new brokerage initiate the FSRA licence transfer

In Ontario, a mortgage agent's licence is always held under a sponsoring brokerage. When you move, it's technically a sponsorship change — your licence number stays the same, but the authorizing brokerage changes. The process goes through FSRA's online portal:

• Your new brokerage's principal broker initiates the authorization request through FSRA.
• You'll receive a notification from FSRA to confirm the change.
• Your current brokerage will typically need to de-authorize you on their end or confirm they're releasing the sponsorship.
• FSRA processes the change and updates the public registry.

Processing timelines can vary. Confirm with your new brokerage how long they expect it to take and plan around any deals in progress accordingly. For the most current process details, refer directly to FSRA's licensing resources or the FSRA website.

Step 4 — Managing your pipeline and deals in progress

This is where most transitions get complicated in practice. Deals that are mid-stream when you leave sit in a grey area — the commission on a funded deal typically flows through the brokerage that submitted and managed it.

• Talk to your current principal broker early. Ask explicitly how in-progress deals will be handled — will you be allowed to see them through, or will they be reassigned? The answer depends on your agreement and the brokerage's policies.
• Don't take deal files without permission. Client information belongs to the brokerage's records. You can maintain your own client notes and contact list, but don't copy deal files from internal systems.
• Communicate with clients carefully. You can let clients know you've moved once you have — but be mindful of any non-solicitation language in your contract during the transition period.
• Time the move around natural break points. If possible, aim to switch between deals closing rather than mid-application — it simplifies the pipeline conversation considerably.

Step 5 — Getting set up at the new brokerage

Once the FSRA sponsorship change is in place, move quickly to get operational:

• Complete any onboarding your new brokerage requires— lender authorizations, platform access, compliance acknowledgements.
• Update your contact information, email signatures, and any marketing materials.
• Rebuild your lender relationships and submitter profiles under the new brokerage's credentials.
• Take advantage of whatever training and mentorship the new brokerage offers from day one — don't wait.

Smooth-transition checklist

• Read your contractor agreement— note the notice period, clawback window, and any non-solicit language
• If anything is unclear, consult a lawyer before you give notice
• Give written notice to your current brokerage in line with your agreement
• Confirm how in-progress deals will be handled with your current principal broker
• Have your new brokerage initiate the FSRA sponsorship change
• Confirm FSRA has processed the change and your public registry entry is updated
• Complete lender re-authorization and platform onboarding at the new brokerage
• Update your email, e-signature, and marketing with the new brokerage's details
• Notify existing clients of your new contact information once the move is confirmed

Frequently asked questions

How do I transfer my mortgage agent licence to a new brokerage in Ontario?

Your new brokerage's principal broker initiates a sponsorship change through the FSRA licensing portal. You confirm the change, your current brokerage releases the authorization, and FSRA updates the registry. Your licence number stays the same throughout.

How long does it take to switch mortgage brokerages in Ontario?

The FSRA process itself can take anywhere from a few business days to a couple of weeks depending on how quickly both brokerages act. Give yourself a realistic runway — don't plan around having the change done overnight.

What happens to my deals in progress when I switch brokerages?

Typically, deals submitted under your current brokerage stay with that brokerage through funding. The commission follows the deal through the submitting brokerage. Have the conversation with your current principal broker early — don't let it become a surprise on your last day.

Can my brokerage stop me from taking my clients when I leave?

Non-solicitation clauses in agent agreements can restrict active solicitation of clients you served, for a defined period. These clauses are common, but their enforceability in independent contractor contexts is limited and fact-specific. Read what you signed and get legal advice if you're unsure — do not assume the clause is unenforceable just because it feels unfair.

Is there ever a bad time to switch brokerages?

Mid-pipeline is the hardest time — you risk leaving deals in limbo and creating client confusion. If you can, plan the move between natural deal cycles. That said, if the situation at your current brokerage is genuinely harming your business or wellbeing, waiting for a perfect moment can be costly too.

Thinking about making the move? At Mortgage Squad we've helped agents transition smoothly — published commission tiers, live training, and no surprises in the fine print. Apply confidentially or explore what we offer.