One of only a handful of active brokers on CAAMP’s board of directors is chalking up the limited representation to name recognition challenges and brokers themselves – often reluctance to take time away from their businesses.
“I absolutely believe it is important to have more successful practicing brokers willing to volunteer their time,” Scott Ede, a director at large representing the Alberta/NWT region, told MortgageBrokerNews.ca. “I think what has kept the broker representation on CAAMP’s board what it is, is that individual brokers aren’t generally as well-known as candidates that are lenders or are out there recruiting, so they’re disadvantaged. Another is that to serve on the board, brokers have to be willing to give away our time, time that many feel might take away from their businesses – it means they have to put a lot of safety nets in place to protect their businesses.”
The comments follow last week’s release of CAAMP election results, with two practicing brokers among six new directors for the board for 15. It brings to five the number of directors who are currently mortgage professionals working in the field. Lenders, insurers and broker network execs make up the balance, something that has attracted broker criticism.
“If over 60 per cent of the membership of CAAMP are active mortgage brokers and agents, why don't we change the constitution of CAAMP to require the at least 50 per cent of the board be composed of active brokers?” wrote Ron Butler, commenting on a MortgageBrokerNews.ca article reporting the election results.
Brokers across the country have voiced similar concerns, arguing CAAMP decision-making is reflected in the representation of mortgage professionals on its board.
“Too bad we don't have more mortgage agents/brokers represented,” said Stephen Codsi. “I fully agree with Ron Butler, what is going on?”
Changing those numbers will take more brokers willing to make the commitment he did in 2010, said Ede, a Calgary broker with Mortgage Alliance. He now heads into his second one-year term, having tied with former Invis regional manager Indra Bains Ladha in last year’s race to represent Alberta.
“I think that for the unification of CAAMP, we need to have the entire industry represented at the board, with more practicing brokers,” he told MortgageBrokerNews.ca, urging brokers to take that leap.