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Mortgage Broker News | 04 Jul 2013, 12:00 AM Agree 0
This week’s appointment of parliamentary assistant Steven Del Duca to oversee a five-year review of Ontario’s Mortgage Brokers Act has already spawned a slew of broker wish lists for what could and should be tweaked to better the industry.
  • Christopher | 04 Jul 2013, 09:46 AM Agree 0
    The business isn't hard. If you're paying attention, closing a tough deal should be about as hard as turning over in bed.

    The only reason why I lasted so long (37 years) is that people are interesting. The mechanics of the job bored be to tears.
  • Paolo Di Petta | dipettamortgage.com | 04 Jul 2013, 11:59 AM Agree 0
    CAAMP called for "enhanced education standards"? Of course they did. After all, all they really do is sell courses. If they can legislate in "continuing education" they can sell us mandatory fluff courses for an extra $300-400 a year, above and beyond what they already try to charge.

    Let me be clear, continuing education is very important, but if the real estate industry has been any indication, it'll just end up being a cash grab. With the exception of the annual "update" legal-theory courses, the rest of the credits are nonsense. At the TREB show 2 years ago, they had a credit course on "Using MLS/Stratus for iPad". Really?

    The content needs to be more in depth and thorough, not padded with volume. Quality over Quantity.

    Perhaps we should look towards self-directed learning with requirements for courses at accredited institutions (universities/colleges). Because basic business courses would do more for this industry than workshops on "Filogix for iPad"
  • Stephen | 08 Jul 2013, 08:52 AM Agree 0
    It would be wonderful if the spokesperson for the "industry association" had ever underwritten or brokered a single mortgage or ever taught a single mortgage course. Now he is going to determine what education is required for mortgage agents and brokers in Onntario? Wasn't he the same person who pushed for five day courses the last time the Act was reviewed? Need somebody with industry "street cred" running the show.
  • M. Murrel | 09 Jul 2013, 10:30 AM Agree 0
    This is simply more posturing by CAAMP in an attempt to be relevant - something that they, in their entire history, have been unsuccessful doing. They talk a big game about education, but the courses that they offer are a joke and the things that they will award CE credits for is simply mind numbingly stupid. CE credits for going to a golf tournament? REALLY? CAAMP is an elitist organization within its own ranks, giving preferential treatment to those that maintain their AMP designation over the vast majority of their membership. They continue to have their head in the sand – as an association you are mandated to follow the needs and wishes of the majority of your paying members – the majority of whom do not support the AMP designation.

    As for education – leave it to the professionals – specifically the accredited colleges and universities. If you want to enhance the professionalism of our industry mandate minimum education standards from an accredited school – as they do in the province of B.C. ALL mortgage agents are REQUIRED to take the course at the University of British Columbia – and it should stay that way. CAAMP is trying to get them to allow them to teach the course, but that will only devalue it. HOW can CAAMP have a designation that indicates it is Accredited when they are not an accredited educational institution?

    It is time for change and there needs to be a shake up at CAAMP.
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