Broker course open to non-agents

by |

CAAMP has opened up its broker education program to “those who deal with mortgage brokers or want to expand their knowledge about the industry.”

Some brokers, including Enza Venuto, principal broker of Centum Streetwise Mortgages, would rather see that effort put into better educating agents and brokers.

“They should talk about improving the agent and broker education, not the general public,” says Venuto. “Right now it’s all about a numbers game; it should be a quality game. Every Tom, Dick or Harry shouldn’t have a licence.”

CAAMP is launching its Ontario Mortgage Broker Education Program next week, primarily aimed at agents wanting to become licenced brokers or aspiring to become principal brokers. According to the literature, it is also of benefit to those “specializing in mortgage compliance or looking to explore career development opportunities or upgrade their qualifications.”

“We are pleased with the turnout, with those who have already registered for the course,” says Jim Murphy, president and CEO of CAAMP. “Our instructors will speak to what the Ontario regulator has set out in the standards for the province.”

The courses are designed in two phases; the first phase is an online course, followed by a five-day in-class session for Phase 2. And Murphy is confident that the program does, in fact, speak to the current dictates of the brokering industry.

“There will be examples of case studies in the classroom, reflective of current trending issues in the industry,” he says.

Still some brokers are concerned any move to allow non-agents to take the course could undercut those objectives.

“Just using my own brokerage as an example, we have a 90/10 split,” says Venuto, referring to the rule of 10 per cent of brokering agents doing 90 per cent of the deals. “The onus should be on educating the agent before we educate the public. We have some agents in the channel who don’t even know how to talk to a client."

  • Sharon Fauchon on 2013-02-27 7:29:58 AM

    I Don't Get It, WHY?

  • Sue on 2013-02-27 8:01:51 AM

    The broker course was never "closed" - you never had to be an agent or even in the industry to take it. why would you discriminate or limit education?
    the article itself says that the course is primarily aimed at agents wanting to become principal brokers. that's that.

  • Paolo Di Petta | dipettamortgage.com on 2013-02-27 8:34:57 AM

    @Sharon Fauchon- WHY NOT? If an individual wants to educate themselves, they should have the options available. Knowledge is meant to be shared and is a great thing to aspire to. It's not as if they are skipping requirements and getting licensed.

    As Sue said - it's always been open. And I'm glad it will continue to be. I'm not concerned with "tourists" taking the course with me. Good on them!

  • Ontario Mortgage Broker on 2013-02-27 11:00:30 AM

    If CAAMP wants a cash grab, why not make the agents course a prerequisite?
    People love dumping on realtors, but you can't take the real estate brokers course in Ontario until a) you have taken all the sales reps courses , 6 courses b) plus the 3 electives not taken during the articling phase c) have done your 2 years articling.
    Then you take the real estate brokers course....and you want to call mortgage brokerage a profession.... Pitiful !!!
    CAAMP is cowtowing to bankers who want to be brokers.

  • A Broker on 2013-02-27 12:51:44 PM

    Another cash cow for CAAMP.

  • A Broker on 2013-02-27 12:53:41 PM

    Venuto says some of his agents don't even know how to tlk to a client. Get off your butt and teach them. Too many cash grabbing brokers out there anymore. Will hire and take monthly fees but won't train.

  • Paolo Di Petta | dipettamortgage.com on 2013-02-28 5:01:26 AM

    Sounds like all the anonymous commenters are afraid that someone's going to learn their closely guarded secrets.

    If you think your knowledge is your unique selling proposition, then I hate to break it to you, but you're not all that unique. There's ~10,000 brokers and agents across Ontario, and most of them are just as capable as you are.

    Your value should be in building relationships. Either you can educate you clients and build that relationship, or you can dangle the information like a carrot, and they'll go look for it elsewhere. It's your call. Get with the times.

  • Jim A - Durham and Toronto Broker on 2013-02-28 5:06:54 AM

    I trully am at awe here. Why in the world is CAAMP allowing anyone to take this broker course. I understand that it is quite good to educate the public. Brokers and agents should be doing that anyways. The thing that gets me is that Caamp is allowing people to take the broker course without going for the agent course. This makes no sense at all. I agree if they are allowing this then why wouldn't the Toronto Real Estate Baord allow anyone to take the Real Estate Broker program. We both are dealing with real estate one being in real estate sales and the other in real estate financing. If CAAMP wants to offer a program to educate the public then they should be doing so on a seperate program just for people who are wanting to do this for their own interest. This is taking the professionalism away from attaining the Broker status and for those that have worked quite hard in getting it years before. CAAMP enough is enough!

  • Nicholas Hamblin on 2013-02-28 5:28:31 AM

    CAAMP needs to rethink this it culd cost them their broker members , they do have competition in the regional broker associations and moves like these may make that option more attractive.

  • Sharon Fauchon on 2013-02-28 6:09:05 AM

    I have no closely guarded secrets other then I have been a broker for 22 years and I have no desire to go and sit in on a doctors course, or a lawyers course, or an appraisers course. Leave the professionals with experience to do the job!! Trust us and you do your job. It is not a big deal, I was asking a question, but thanks for the explanation. :)

  • Derek Rowley on 2013-02-28 4:19:18 PM

    I will make this plain and simple - same as our licensed agent - agent course first - then two years in the industry - then the broker's course. You wouldn't go to a 1st year med student expecting him or her to be qualified to perform a triple by-pass.

  • Ron Price/DLC on 2013-03-14 8:05:43 AM

    Wow, this is well B S. CAAMP is out of touch with reality.
    Realtors governing bodies have it right. Take the agent course, go into apprenticeship to get some experience, and then apply for the brokerage license after successfully passing the educational requirements, which also btw are pretty much B S in terms of practical, real life working guidelines.

Broker news forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Name (required)
Comment (required)
By submitting, I agree to the Terms & Conditions