Key takeaways
- →A licence expired less than two years can be reinstated; one expired more than two years cannot — the applicant has to start over as a new applicant.
- →Reinstatement fees mirror new-application fees: $941 (prorated) for Level 1, $983 (prorated) for Level 2 or mortgage broker.
- →A licence expired more than two years no longer appears in FSRA's public registry.
- →Requalifying as Level 2 after more than a two-year lapse means passing the Private Mortgage Course again and rebuilding 12 months of experience as a Level 1 agent before upgrading.
A lapsed Ontario mortgage licence isn't automatically gone — but whether it can be reinstated at all depends entirely on how long it's been expired.
FSRA draws a hard line at two years. Here's what reinstatement costs on either side of that line, and what happens if you've missed the window entirely.
01 · What's the actual cutoff for reinstating a lapsed licence?
If your Ontario mortgage agent Level 1 licence expired less than two years ago, you can apply to have it reinstated. If it expired more than two years ago, you have to apply for a brand-new Level 1 licence instead — the same two-year cutoff structure applies to Level 2 and mortgage broker reinstatement as well.
Licences expired more than two years aren't displayed in FSRA's public registry at all — there's no partial or grace-period status past that point.
02 · What does reinstatement actually cost, by licence type?
Reinstatement fees are published for each licence type, applicable only within the two-year window:
| Licence type | Reinstatement fee |
|---|---|
| Mortgage Agent Level 1 | $941, prorated |
| Mortgage Agent Level 2 | $983, prorated |
| Mortgage Broker | $983, prorated |
These mirror the fees for a first-time application at the same licence level — reinstatement isn't a discounted path. See the full Ontario licence cost breakdown for how these figures compare to new-application and upgrade costs.
03 · What happens if you've been lapsed for more than two years?
For a Level 1 licence, you start over: FSRA requires completing a mortgage agent Level 1 course within 24 months of the new application, the same as any first-time applicant.
Requalifying at Level 2 after a lapse of more than two years takes longer — pass the Private Mortgage Course again, then rebuild 12 months of experience as a Level 1 agent, before applying to upgrade to Level 2. There's no shortcut back to Level 2 that skips rebuilding that Level 1 track record.
A lapsed licence is a bigger cost than the reinstatement fee
Stay compliant, then focus on growth.
Once a licence is current again, Treadstone's fulfillment team and Canadian Mortgage Underwriting Course help make sure the next gap isn't a licensing one.
04 · Does reinstating a licence require a new criminal record check?
FSRA's criminal record check, run through its approved vendor Triton Canada, costs $19.15 and is valid for 90 days — the same fee and validity window that applies across Level 1, Level 2, broker, reinstatement, and renewal applications alike.
That's distinct from the check required at ordinary renewal, called a CRJMC, which FSRA only requires again if a criminal matter was previously disclosed or FSRA has received information suggesting one. Anyone weighing whether to let a licence lapse in the first place should read this alongside FSRA's CE requirements, and consider how Treadstone supports licensed mortgage professionals once back in good standing, alongside the Canadian Mortgage Underwriting Course waitlist for building skills during any gap.
Frequently asked questions
This article is general information to help you scale — not a substitute for tailored advice on your specific business, licensing, or compliance obligations. All figures are illustrative examples for planning purposes; actual costs vary by province, market, and brokerage.