CAAMP releases ethics complaint summary

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CAAMP released its annual ethics complaint summary for 2014, and the vast majority of complaints were made against new CAAMP applicants.

CAAMP has a code of ethics by which all members must abide,” CAAMP writes in the March/April Mortgage Journal issue. “Failure to do so results in an ethics complaints process as set for in the association’s bylaws.”

The 2014 ethics complaint summary provides a breakdown of the nature of each ethical complaint made, as well as a summary of the outcome of complaints.

According to the report, 66 per cent of complaints were made against aspiring members who “admitted to having criminal record, regulator sanction or bankruptcy” on their CAAMP application.

16 per cent of complaints were made by consumers about a broker/agent. Meanwhile, no complaints were made by consumers about lenders or mobile specialists.

Four per cent of complaints were made by a broker/agent about a fellow broker/agent.

In the vast majority of cases (63 per cent) CAAMP reviewed and dismissed complaints as not being in violation of its code of ethics.

A mere one per cent of complaints resulted in a person being told to cease and desist using AMP; in three per cent of cases CAAMP membership was withdrawn, suspended or denied. 

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