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Home / Doing business / Business types / Industry specific guides / Mortgage Brokers
Mortgage Brokers
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The purpose of this guide is to explain the tax responsibilities of mortgage brokers and their independent contractors . Where the term "independent contractors" is used in this guide, it refers to loan originators or loan officers that are independent contractors within a mortgage broker business.
Mortgage brokers work as agents between lenders and borrowers. They are defined by the Mortgage Brokers Practices Act as any person who:
- makes a residential mortgage loan or assists a person in obtaining a residential mortgage loan, or
- holds himself or herself out as being able to make a residential mortgage loan or assist a person in obtaining a residential mortgage loan.
For more information or answers to questions about excise taxes, please contact us.
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Table of Contents
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Updated - Summer 2006
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