Government Intends to Empower FICOM as a Crown Corporation

Over the last six months, CMBA-BC has been in discussions with the BC Government concerning FICOM's transition to a Crown Agency and incorporating the Mortgage Broker registration program into the FICOM structure.

CMBA-BC's concerns over this transition are contained in our June 2018 letter to the Ministry of Finance.

As a result of today's announcement, we do not expect to see major changes that would impact the day to day operations of Mortgage Brokers, but we will continue to communicate with the BC Government about this transition.