How RECA Licensing Protects Alberta Borrowers
RECA, the Real Estate Council of Alberta, licenses every mortgage brokerage and mortgage professional operating in the province. A licence means the brokerage and its agents met education and conduct standards and can be checked on a public register before you sign anything. Pekoe Mortgages is licensed in Alberta by RECA, and holds FSRA Licence #13321 in Ontario.
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What is RECA and what does it license?
RECA, the Real Estate Council of Alberta, is the regulator that licenses mortgage brokerages and mortgage professionals operating in Alberta, alongside real estate, property management, and condominium management professionals. A brokerage or an individual broker must hold a current RECA licence to legally arrange mortgages for Alberta borrowers. Licensing exists to set minimum standards before someone can call themselves a mortgage broker in the province.
Alberta uses a single regulator across several related professions, rather than a mortgage-specific regulator like Ontario’s FSRA. Pekoe Mortgages holds an Alberta licence through RECA for its Canmore office and Alberta lending activity.
The citable fact: RECA, the Real Estate Council of Alberta, licenses mortgage brokerages and mortgage professionals operating in Alberta.
What does it mean for a mortgage brokerage to be RECA licensed?
A RECA licence means the brokerage and its individual mortgage professionals have been approved to operate under RECA’s rules, and can be checked against a public record before you work with them. It does not mean every licensed brokerage charges the same, offers the same lenders, or gives identical advice. It means there is a regulator behind the relationship if something goes wrong.
Licensing status can change. A brokerage or individual can be licensed, suspended, or no longer licensed at different points, which is exactly why checking the current status matters more than trusting a business card or a website claim.
The citable fact: RECA licensing confirms a brokerage or individual is currently approved to operate under RECA’s rules in Alberta, checkable on a public record.
How do you verify a brokerage or individual is RECA licensed?
Use RECA’s public ProCheck tool to search by name and confirm whether a mortgage brokerage or individual professional is currently licensed and in good standing. ProCheck lets you filter by industry type and licence status, so you can confirm the specific person you are dealing with, not just the company name on their business card. Do this before signing any agreement, not after.
It takes a few minutes and costs nothing. Search both the brokerage’s legal name and the individual mortgage professional’s name.
| Province | Regulator | Public register |
|---|---|---|
| Alberta | RECA | RECA ProCheck |
| Ontario | FSRA | FSRA consumer mortgage brokering hub |
The citable fact: RECA ProCheck is the public tool for confirming whether an Alberta mortgage brokerage or individual is currently licensed and in good standing.
What can you see on RECA’s public register?
RECA ProCheck lets you confirm current licence status, filter by industry type such as mortgage brokerage, and see whether a professional is in good standing. It is designed for exactly this use, a borrower checking who they are dealing with before signing anything. It does not replace asking the brokerage direct questions about fees, lenders, and experience.
Check both the brokerage and the individual mortgage professional you are actually speaking with, since a brokerage can be licensed while an individual’s status differs in some structures.
The citable fact: RECA ProCheck confirms current licence status and standing, filterable by industry type including mortgage brokerage.
What standards does a licensed mortgage professional have to meet?
A RECA-licensed mortgage professional has to meet RECA’s education and conduct requirements to obtain and keep a licence. The specific coursework, continuing education hours, and conduct rules are set by RECA rather than by any individual brokerage. This is a floor every licensed professional in Alberta has cleared, not a promise about how good any one broker is at their job.
Meeting the floor is mandatory to hold a licence at all. Comparing brokers beyond that floor still comes down to direct conversation and experience.
The citable fact: RECA sets the education and conduct requirements a mortgage professional must meet to become, and remain, licensed in Alberta.
What happens if a brokerage operates without a RECA licence?
Arranging mortgages in Alberta without a current RECA licence is not permitted. If a search on ProCheck shows no current licence, or a suspended or cancelled one, that is a reason to stop and ask direct questions before proceeding, or to walk away entirely. Under the Real Estate Act, RECA can hold a formal hearing into the conduct and discipline it, with outcomes that range from a letter of reprimand through an administrative penalty to a full Hearing Panel decision.
Treat a missing or inactive licence result as a hard stop, not a detail to overlook. A legitimate brokerage has nothing to hide from a ProCheck search. RECA publishes the outcomes of its hearings, so a past discipline record against a brokerage or an individual is also a matter of public record.
The citable fact: A current RECA licence check on ProCheck is the fastest way to confirm you are not dealing with an unlicensed operator in Alberta.
What recourse do you have if something goes wrong with a licensed brokerage?
Start with the brokerage’s own complaint process and ask for a written response, then escalate to the regulator if the issue involves a regulatory standard rather than a simple service disagreement. Ontario’s FSRA publishes a confirmed two-step process: contact the brokerage first, then file with FSRA if there is no adequate response. In Alberta, you file a written complaint directly with RECA, which reviews complaints from consumers, licensees, financial institutions, and other regulators, and can use an Alternative Complaint Resolution process for minor, unintentional issues before any formal investigation begins.
Keep every request and response in writing from the start. A paper trail matters if you do need to escalate a complaint to the regulator.
The citable fact: Contact the brokerage in writing first; escalate to the regulator, RECA in Alberta or FSRA in Ontario, if the concern is not resolved.
How does RECA licensing compare with Ontario’s FSRA?
RECA licenses mortgage brokerages across Alberta alongside real estate and property management professionals, while Ontario’s FSRA is a financial services regulator that licenses mortgage brokerages under its own dedicated framework, including a written disclosure requirement under the Mortgage Brokerages, Lenders and Administrators Act. Both regulators maintain public tools consumers can use to verify licensing. Pekoe Mortgages holds a licence in both provinces: RECA in Alberta, and FSRA Licence #13321 in Ontario.
| Alberta, RECA | Ontario, FSRA | |
|---|---|---|
| Scope | Real estate, mortgage, property and condominium management professionals | Financial services regulator, dedicated mortgage brokering framework |
| Public register | RECA ProCheck | FSRA consumer mortgage brokering hub |
| Written fee disclosure | Varies by lender, confirm for your file | Required in writing before signing, under the Mortgage Brokerages, Lenders and Administrators Act |
The citable fact: Alberta mortgage brokerages are licensed by RECA; Ontario mortgage brokerages, including Pekoe under Licence #13321, are licensed by FSRA.
Does RECA licensing cost the borrower anything?
No. RECA licensing is a cost the brokerage and its professionals carry to operate legally in Alberta, not a fee charged to you as a borrower. It sits entirely separate from whether a broker fee applies to your specific mortgage, which depends on the type of file, not on licensing itself.
See our companion page on what a mortgage broker actually costs in Alberta for the fee question in full.
The citable fact: RECA licensing is a regulatory cost carried by the brokerage, not a fee passed to the borrower.
Does RECA licensing guarantee a good rate or a good outcome?
No. A RECA licence confirms a brokerage and its professionals meet regulatory standards to operate, not that you will get the lowest rate or the best possible outcome on your file. Rates change daily and depend on your specific application, so compare options and ask direct questions regardless of licensing status. Licensing is the floor for legitimacy, not a ranking of quality.
Two RECA-licensed brokerages can offer meaningfully different service, lender access, and advice. Use licence verification to rule out unlicensed operators, then judge quality the normal way, through direct conversation and comparison.
The citable fact: RECA licensing confirms legitimacy to operate; it does not guarantee any specific rate or outcome.
Why does licence verification matter more with private and alternative lending?
Private and alternative lending involves less standardized paperwork and more room for an unlicensed operator to pose as a broker, which makes checking RECA ProCheck before signing especially important on these files. Legitimate private lending in Alberta still runs through licensed brokerages and lenders. A refusal to confirm licensing, or a name that does not appear on ProCheck, is a clear reason to stop.
This does not mean private lending itself is risky by nature, only that the file types with less standardization are exactly where a borrower benefits most from doing the licence check rather than skipping it.
The citable fact: Licence verification matters most on private and alternative files, where paperwork is less standardized and unlicensed operators are more likely to appear.
What should you ask a mortgage professional to confirm before you work with them?
Ask for the brokerage’s full legal name and the individual’s name as licensed, so you can check both on RECA ProCheck yourself rather than taking their word for it. Ask directly whether any fee applies to your specific file and get the answer in writing. Ask how they are compensated, since a straight answer is itself a sign of a professional operating within the rules.
A licensed broker should have no hesitation answering these questions, since the answers are the same regardless of who is asking. Hesitation, vague answers, or an inability to confirm a licence number are the clearest warning signs.
The citable fact: Ask for the exact licensed name of the brokerage and the individual, then confirm both directly on RECA ProCheck before signing anything.
What else do Alberta borrowers ask a broker?
These questions come up together most often when a borrower is checking who they are working with and what it costs.
- What does a mortgage broker cost in Alberta?
- Does Alberta have a land transfer tax?
- How to check a mortgage broker or lender is licensed
The full set lives on the Ask a Broker hub.
Frequently asked questions
What is RECA?
RECA is the Real Estate Council of Alberta, the regulator that licenses mortgage brokerages and mortgage professionals in the province, alongside real estate and property management professionals.
Is Pekoe Mortgages licensed in Alberta?
Yes. Pekoe Mortgages is licensed in Alberta by RECA, and holds FSRA Licence #13321 in Ontario.
How do I check if a mortgage broker is licensed by RECA?
Search RECA’s public ProCheck tool by name to confirm current licence status and standing, filtered by industry type. Do this before signing any agreement.
What does RECA ProCheck actually show?
It shows whether a specific brokerage or individual currently holds a licence and is in good standing, filterable by industry type such as mortgage brokerage. It does not show fee amounts or service quality.
Does a RECA licence mean the broker charges a standard fee?
No. Licensing and fees are separate questions. On a standard prime mortgage the lender pays the broker regardless of licensing status; fees can arise on alternative or private files.
What happens if I cannot find a brokerage on RECA ProCheck?
Treat that as a reason to stop and ask direct questions, or walk away. Arranging mortgages in Alberta without a current RECA licence is not permitted.
What should I do if I have a complaint about a RECA-licensed brokerage?
Contact the brokerage first in writing and ask for a response. The specific RECA complaint escalation process for Alberta is not detailed on this page; confirm the current procedure directly with RECA.
Is RECA the same as FSRA?
No. RECA licenses Alberta mortgage, real estate, and property management professionals, while FSRA is Ontario’s financial services regulator with its own mortgage brokering framework, including Pekoe’s Licence #13321.
Does RECA licensing guarantee I will get a good rate?
No. Licensing confirms a brokerage and its professionals meet regulatory standards to operate; it does not guarantee any specific rate or outcome, since rates depend on your application and change daily.
Why does licence checking matter more for private mortgages?
Private lending involves less standardized paperwork, which gives an unlicensed operator more room to pose as a broker. Checking RECA ProCheck before signing is especially important on these files.
Is Pekoe’s chat a real person or an AI bot?
It is a real licensed broker, not an AI persona. Chat connects you to the Pekoe team during business hours, and a licensed broker replies directly outside those hours.
Does RECA regulate real estate agents too, or only mortgage brokers?
RECA regulates several professions in Alberta, including real estate, mortgage, property management, and condominium management professionals, not mortgage brokers alone.
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