| Aspect | Mortgage Agent | Mortgage Broker |
|---|
| Credentials | Requires licensing and certification, often through provincial regulators | Requires licensing, certification, and often additional education |
| Work Environment | Works under the supervision of a licensed broker or directly with lenders | Operates independently or as part of a brokerage, managing multiple agents |
| Employer & Industry Usage | Typically employed by mortgage brokerages or lenders | Owns or manages a mortgage brokerage, overseeing agents |
Mortgage agents assist clients in finding suitable mortgage products and work under the supervision of a mortgage broker. Mortgage brokers have a broader role, often managing multiple agents and having more responsibilities in licensing and business operations. Both roles require licensing and are integral to the mortgage industry, but brokers generally have a higher level of independence and oversight.