Upgrading from mortgage associate to mortgage broker in Alberta isn't a single application — it's an experience threshold, a program and exam, and then a brokerage set-up process with its own document and insurance requirements before RECA authorizes you to operate.
This roadmap works through that sequence in order, so nothing gets started out of turn — particularly the E&O insurance, which has to be in place before RECA will license the brokerage, not after.
Step 1. Confirm you meet the 2-year experience requirement
You need at least 2 years of experience as a mortgage associate within the last 5 years before you're eligible for the Mortgage Broker Program. Confirm your own licensed history against this window before enrolling in anything.
Step 2. Enrol in and pass the Mortgage Broker Program exam
The Mortgage Broker Program, with its exam administered by AMBA, is the qualifying step once you meet the experience requirement. RECA's own reported data for Jan-Dec 2025 shows 12 exam attempts, a 75% success rate, and a 74% average score — treat it as a real exam to prepare for, not a formality.
Step 3. Confirm eligibility and start your application in myRECA
Once you've passed the Mortgage Broker Program exam, your myRECA online account shows an “Open a Brokerage” button, which starts the formal brokerage application.
Step 4. Set up your registered business office and documented policies
Before applying, line up a registered business office located in Alberta, corporate or trade-name registration with Alberta Registries as applicable, and documented policies and procedures — RECA provides templates to work from rather than requiring you to build these from scratch.
Step 5. Secure E&O insurance before you apply, not after
E&O insurance must already be in place before RECA authorizes a mortgage brokerage to operate: a minimum $500,000 per claim and $1,000,000 aggregate within a 365-day policy period, including fraud coverage. Choose from RECA-approved providers — including named programs through AIG, Chubb, Intact via Axis Insurance, several Lloyd's of London programs, and AMBA's own program via Victor Insurance Managers Inc. — and get proof of coverage, including the fraud endorsement, ready to submit.
Don't apply before this is confirmed: Proof of E&O insurance is a precondition of authorization, not a follow-up item — line it up in parallel with your business office setup, not after your application is already in.
Step 6. Submit your brokerage application with the right documents for your structure
The document set depends on your structure — a corporation more than 50% owned, a corporation 50% or less owned, a partnership, or a sole proprietorship — and can include a Corporate Summary, Broker Management Acknowledgement, Continuing Guarantee or Irrevocable Letter of Credit, and Brokerage Licence Suitability Questions, alongside the Brokerage Licensing Review Fee. See Alberta Mortgage Licensing Costs for the fee itself.
Know your ongoing reporting duties once licensed
Once operating, any material brokerage change — a change of broker, name change, partnership change, corporate access number change, registered office address, corporate structure, or fiscal year-end — generally has to be reported to RECA within 5 business days. For the full detail behind each step here, see The Alberta Mortgage Broker Program: Upgrading From Associate to Broker.
Running your own brokerage adds admin load right when you need to be focused on growth — see how Treadstone works with Canadian mortgage professionals to keep that admin from becoming a hiring decision.