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RECA (the Real Estate Council of Alberta) is Alberta’s regulator for mortgage brokering, licensing mortgage associates and mortgage brokers under the Real Estate Act.
RECA licenses individuals as either mortgage associates or mortgage brokers in Alberta, sets the education and continuing-education requirements they must meet, and investigates complaints against licensees. It’s an industry-funded regulator, meaning it operates on licensing fees rather than general government revenue.
RECA’s authority also covers real estate brokerage, property management, and real estate appraisal in Alberta — mortgage brokering is one of several regulated activities under its umbrella. As with Ontario’s FSRA and BC’s BCFSA, RECA’s mandate is provincial licensing and conduct, separate from OSFI’s federal oversight of lenders.
Alberta’s title: Alberta licenses mortgage associates and mortgage brokers — a different licensing tier structure than Ontario’s Level 1/Level 2 agents.
Multi-industry regulator: RECA also licenses real estate brokerage, property management, and appraisal professionals in Alberta, not just mortgage brokering.
Industry-funded model: RECA operates on licensee fees rather than direct government funding, similar to other provincial self-regulatory bodies.
Complements federal rules: RECA licenses and disciplines the people; OSFI’s Guideline B-20 still governs how federally regulated lenders underwrite the files they submit.
Definitions reflect Canadian federal and provincial rules as of the “Updated” date above. Not advice for any specific file.
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