CAAMP course fees ignite broker reaction

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CAAMP will reveal exact fees for its upcoming Ontario mortgage broker course next month, but some members outside the country’s largest market are calling on the association to equally subsidize all province-specific courses.

“We will be releasing course fee details when registration begins on November 12,” said association president Jim Murphy told, on the heels of FSCO’s move to designate it as the sole course provider for Ontario’s mortgage broker education. “We have two new facilities where we look forward to offering very good courses that will meet the needs of regulators and the industry.”

The announcement has now touched off demands from CAAMP members outside Ontario that the organization subsidize course fees.

“I want CAAMP to subsidize the course fees and move towards a price structure that is equal throughout the provinces where they offer the courses,” said John Dearin, owner/broker of Dominion Lending Centres in St. John’s, Newfoundland. “The CAAMP membership contributes enough to the organization for it to shoulder part of these fees and provide us with equitable prices.”

CAAMP now holds exclusive rights to offer broker courses in several provinces. Last June, the association launched its Nova Scotia mortgage broker course.

Yesterday, Murphy said they will be rolling out course offerings in Newfoundland and Labrador in the next six months but did not reveal details about facility locations.

Dearin wants more clarity on the availability of broker education facilities for agents from outside major markets who would like to take the course.

“It’s nice to know where my CAAMP fees are going, this is awesome for Ontario members they’re getting two new education centres,” said Dearin. “But CAAMP has members in other provinces as well and we want to know if the association will provide convenient venues for members from far-flung areas who want to take the course as well.”

  • John Dearin RPA,. AMP. on 2012-10-31 3:59:52 AM

    Is the federal consumer watchdog (The Competition Bureau) even concerned about this monopoly given to CAAMP by a government agency. If we were in the real estate industry (Say MLS out loud) they would/should be all over this. Why are the courses not offered in other educational institutions across the country so everyone can avail of the in-class experience. Why was Seneca dropped? What will the in-class fee be compared to the online fee. Will non-Ontario member fees be subsidizing our Ontario members on this as well? Man, this is amazing. Where are the regional associations on this?

  • Paolo Di Petta | on 2012-10-31 4:51:39 AM

    Yet another reason this program should never have been handed to CAAMP...

  • Derek Rowley, RMA on 2012-10-31 1:18:26 PM

    Are we still in Canada or did we move to Russia. Really do not see any freedom of choice here

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