2009/2010 CAAMP financials

2009/2010 CAAMP financials

The 2009/2010 financials for the Canadian Association of Accredited Mortgage Professionals (CAAMP) has been examined more closely by canadianmortgagetrends.com.
 
The following are some highlights on CAAMP’s spending and revenue generation from the previous year:
 
-          Membership fee ($225 a year per member broker) revenue grew by 6.2 per cent
-          Salaries and benefits rose by 8 per cent
-          22 per cent more was spent on advertising and promotion
-          Last year’s national conference in Toronto made 15.5 per cent less revenue than Vancouver 2008, and was CAAMP’s biggest expense at $1.6 million
-          CAAMP’s earnings dropped about 28 per cent
-          Its assets rose 9.7 per cent to $4.3 million
 
CAAMP is a trade organization that’s mission is to support and further Canada’s mortgage industry. It advocates for its members on a number of issues, including brokers’ GST exemption to last April’s new mortgage rules.
12 Comments
  • Broker 2010-09-17 4:45:09 AM
    I am a member of CAAMP because my brokerage says I have to be, but as far as I can see it is just a giant money grab with little to no benefit to the individual brokers such as myself. I have seen no advertising in my community. I have received no increase in business by being a member. What exactly is CAAMP planning on doing with the $4.3million they have of our money?
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  • John 2010-09-17 5:03:23 AM
    I was sort of onside with the above comments until a year ago. That is when I reviewed a report where CAAMP "fired" a number of brokers/agents for conduct unbecoming. I read that the paid exec are replaced on a regular basis. At this point I joined.
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  • Faye 2010-09-17 5:05:57 AM
    Kennedy said it best "Dont ask what your country can do for you instead what you can do for your country." Instead of whining why don't you come up with something constructive? Or run for election. You stand up on your soap box but won't even sign you name. I have been a member since 2000 and fully see the benefit of CAAMP.
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