Under section 11.2 of the Distribution Act This link will open in a new window, the following persons are not mortgage brokers when they engage in a mortgage brokerage transaction:  

  • “advocates, notaries, chartered appraisers, liquidators, sequestrators, trustees in bankruptcy and trustees, provided they engage in such a transaction in the exercise of their functions;
  • members in good standing of the Ordre professionnel des comptables professionnels agréés du Québec;
  • persons employed by a hypothecary creditor, provided they engage in such a transaction in the course of their principal occupation and only for that creditor;
  • employees and exclusive representatives of
    • an insurer,
    • a bank,
    • a deposit institution authorized under the Deposit Institutions and Deposit Protection Act,
    • a trust company authorized under the Trust Companies and Savings Companies Act, when acting on behalf of their financial institution or of another financial institution that is part of the same financial group, in the context of a brokerage transaction relating to a loan secured by immovable hypothec; and
  • a person who is a member in good standing of a professional order or who is governed by an Act administered by the Autorité des marchés financiers who only gives a client the name and contact information of a person or partnership offering loans secured by immovable hypothec or otherwise merely puts them in contact with each other, provided the member or person does so as an ancillary activity.”

For more information, consult the following pages: