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Mortgage Broker News | 31 Mar 2016, 05:00 AM Agree 0
It’s time for the mortgage industry to put aside its differences and find its voice, writes Paul Therien
  • Anonymous | 31 Mar 2016, 09:53 AM Agree 0
    Paul wouldn't it be nice , regretfully our National Association before the advent of CMBA didn't represent anyone that well. The PR initiatives they attempted i.e. CIMBL to CAAMP to its current incarnation did not change the meat and potatoes of the situation. While the majority of members were brokers the dough so to speak came from lenders and insurers. This regretfully prevented them from truly representing the interests of mortgage brokers. Recent attempts to merge the Broker Associations with CAAMP were a unqualified disaster as those at CAAMP worked hard to protect their self interests rather than that of the industry and more importantly brokers. There was a great opportunity lost to achieve what your are advocating by the self interest , Egos and inability to respond to its members concerns . As a result we have the Newest incarnation of CIMBL/CAAMP the Canadian Mortgage Professionals Association another PR initiative that does not deal with the concerns of brokers.
  • Paul Therien - CENTUM | 31 Mar 2016, 10:20 AM Agree 0
    Hi Anonymous,

    Thanks for your feedback to my thoughts on this topic. I agree that there have been some issues in the past, but I think that we need to continue to make the effort to explore our options and find a solution.

    We are part of a strong vibrant industry, that I believe, provides an invaluable service to Canadians. With all of us standing together (regardless of brand) through strong, unified, association representation - we can do even more.

    As a fragmented group our ability to effectively work with regulators, and our lender partners, is inhibited. Yes, we can absolutely still have an impact, and get stuff done. We can still be the best source for home financing advise for the consumer.

    Imagine what we can do if we all worked together. Everyone would benefit, or at least I believe that this would be the case.
  • Keith | 31 Mar 2016, 10:36 AM Agree 0
    First - I want to applaud Paul for taking the initiative to talk about the elephant in the room. This, to me, is a clear example of what leadership is all about.

    I have a thought... why wouldn't each province get to elect a proportionate number of boards members to a national association but also have the "managing" board be made up from the regional associations?

    Ontario could have 3 people in total, BC 2, Alta, Sask and MB 1 each, Quebec 2, the Maritimes 1 each.

    You would have 13 people on an elected board comprised of only mortgage brokers and they could be re-elected every year or two. This board would provide valuable insight into the needs and wants of the broker community.

    The managing board could be made up of key people from the provincial associations (brokers, lenders and partners are eligible) and they would sit on the board for 3-4 years, with the options to have a second term (max 2 terms).

    Not unlike the electoral system in some countries.

    I chatted with Paul about this once, and he seemed to think that the idea had some merit.
  • Troy Resvick | 31 Mar 2016, 02:38 PM Agree 0
    Well written and articulated viewpoints Paul...
  • Amylee S. | 04 Apr 2016, 10:31 AM Agree 0
    This is what leadership is all about, not being afraid to touch on the tough subjects and look beyond today to see what the future holds, then saying "let's all come to the table and forget things like brand for a moment to look to our future".

    We in this industry are very lucky that we have young leaders like this. It bodes very well for our future.
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