Provincial mortgage broker associations join forces

Provincial mortgage broker associations join forces

Provincial mortgage broker associations join forces Over two years of discussion has resulted in the formation of the Canadian Mortgage Brokers Association – a national group bringing together provincial players.

“It was determined that the formation of a national umbrella organization, CMBA, would not only enhance already strong regional representation but also promote higher standards and awareness across the country,” an official release from CMBA states. “CMBA will be an organization by mortgage brokers for the entire mortgage broker industry.”

The goal of the association is to promote the use of mortgage brokers and increase market share.

“Mortgage broker regulation is provincially regulated and is the core focus of provincial associations,” the release states. “However, CMBA can provide a national voice for mortgage brokers on any issues, which are inter-provincial or national in scope.”

Currently MBABC, MBAAC, IMBA have joined. Missing from the announcement are AMBA and Saskatchewan’s representation.

“We are in discussion with Alberta,” Janet McKeough, president of MBAAC told MortgageBrokerNews.ca.

In February 2014, a group – spearheaded by AMBA – announced a tighter working relationship within the provincial associations.

“In November 2013, a first meeting was held in Toronto with the executives of the Canadian Association of Accredited Mortgage Professionals (CAAMP), the Mortgage Brokers Association of British Columbia (MBABC), the Independent Mortgage Brokers Association of Ontario (IMBA), the Mortgage Brokers Association of Atlantic Canada (MBAAC) and AMBA to discuss whether there was interest in working together to coordinate our efforts, reduce duplication and ensure the best interests of the memberships are well served,” AMBA president, Gord Appel wrote in a letter sent to AMBA members, obtained by MortgageBrokerNews.ca at the time. “We are pleased to say that all those in attendance agreed that the time is right for this discussion to happen and that the goal of integration in some form is needed.”

 
21 Comments
  • Frank 2015-04-21 3:52:12 PM
    Great News! Need proper national voice that stills cares about regional issues. Good Story MBN
    Post a reply
  • Robert Gascon 2015-04-21 3:58:23 PM
    Long over due!!!
    Post a reply
  • Gord 2015-04-21 4:01:43 PM
    interesting that AMBA and CAAMP (who were part of the original discussion) weren't part of the announcement.
    Post a reply