DLC’s Gary Mauris is clearing up any confusion around a CAAMP incentive to super brokers willing to collect membership dues for the association, telling MortgageBrokerNews.ca that his organization rejected the offer.
“We turned down the CAAMP incentive immediately after receiving the letter from CAAMP and have no interest in collecting association fees for them,” He said. “Also we do not make CAAMP membership mandatory, but leave that decision up to our franchise owners.”
The response echoes that of at least two other large broker networks responding to an invitation sent by CAAMP CEO Jim Murphy last month, and offering them a “20-per cent administrative incentive” for collecting CAAMP membership dues, but only if all their brokers and agents join up.
“Sharing the cost of operating an association is by no means a simple task,” writes Murphy, in an offer letter sent to broker network heads Nov. 9. “As you know, (our) bylaw states that if a brokerage is a member (of CAAMP) all of its agents, sub-brokers or associates must also be members. Over the past year the board of directors has discussed in detail the aforementioned bylaw.
“We appreciate the time and effort it takes to collect and remit member dues on behalf of a large number of offices and people. With this in mind, the board has passed for 2012 a resolution that we feel will reimburse those firms that take on the effort of collecting and remitting membership. We have implemented a program, which provides you with a 20 per cent rebate on total member dues paid for 2012 (net of tax) in the form of a CAAMP credit.”
There are conditions attached to that offer: The administrative incentive cannot be redeemed in cash, but only in the form of CAAMP products and services such as education credits, AMP dues, event registration or sponsorship. The rebate cannot be applied to CAAMP membership dues. The dues the broker network does collect must also be submitted to the association on one cheque, a way of reducing administrative costs for CAAMP.
Also, the board is only making the offer to super brokers and networks that have a minimum of 500 members, and each organization must be compliant with the bylaw Murphy cites in his letter – namely all of its agents and brokers must be CAAMP members.
Broker response to a MortgageBrokerNews.ca article breaking the story was overwhelming negative, with some mortgage professionals suggesting the offer may result in pressure being placed on them to join CAAMP.
That simply won’t be the case at DLC, said Mauris, at the same time reaffirming his appreciation for the country’s leading broker association. Centum and Argentum are among other networks to pass on the CAAMP offer.
“We do support CAAMP and appreciate the good works of the volunteers, members and management,” he told MortgageBrokerNews.ca.