The majority of those polled -- 65 per cent --brokers polled believe the Canadian Mortgage Brokers Association (CMBA) – an amalgamated association spearheaded by a number of provincial organizations – will be more broker focused.
On the other hand, 35 per cent believe the current associations, including CAAMP
and individual provincial organizations, are sufficient.
In a joint statement in late April, the presidents of MBABC, MBAAC, and IMBA
announced the creation of CMBA.
In late April, the presidents of MBABC, MBAAC, and IMBA
announced in a joint statement the creation of the Canadian Mortgage Brokers Association.
Brokers were quick to commend the move.
“The formation of CMBA is a great accomplishment, and is the result of countless hours invested by some key players from the regional associations,” John Bargis of Mortgage Edge wrote on MortgageBrokerNews.ca “CMBA has chosen to pay close attention to the industry's ongoing call for the recognition and promotion of the ‘Mortgage Broker’ as a profession direct to the consumer, and this step brings us that much closer to making this a reality.”
Others are holding off on passing judgement until the new association settles in.
“This is a good step forward, but let’s wait and see how the dust settles before passing judgement,” Blair Anderson of Anderson and Associates wrote, following the initial announcement of CMBA’s formation. “Anything less that exclusive representation of mortgage brokers is a waste of time.”
It’s not quite a clean sweep, but a large number of brokers feel optimistic about what the industry’s newest association can do for brokers, according to a recent MortgageBrokerNews.ca poll.