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Mortgage Broker News | 09 Jan 2013, 12:00 AM Agree 0
It's usually the most hotly debated finding in CAAMP's annual survey, but that research is once again suggesting consumer satisfaction with AMP-arranged mortgages is higher than the rest.
  • John Hamilton | 10 Jan 2013, 05:55 AM Agree 0
    Every agent I know, as well as myself, plan to let the AMP designation lapse. Everyone i talk to sees no benefit in it and a complete waste of time and resources.
  • Paolo Di Petta | | 10 Jan 2013, 06:00 AM Agree 0
    I'm pretty sure the survey had options for "dealt with an AMP", "dealt with a non-AMP" and "don't know". I wonder where all those "don't knows" ended up. That statistic is suspiciously absent (or perhaps, quietly blended in to one of the other numbers)
  • Kim Reddin | 10 Jan 2013, 06:29 AM Agree 0
    I certainly don't plan to allow my AMP designation to lapse. I am proud to be an AMP and want my clients to know I take my business seriously. The designation may not be perfect, but it is the way we should be going. Let's help promote the industry standard and drive customer expectations. Someday I hope the AMP will be immediately recognized, just like other professional designations. Until then, we need patience and self promotion!!
  • Merv Gabriel | 10 Jan 2013, 06:29 AM Agree 0
    I'm in agreement with John Hamilton's comments. Furthermore, In my opinion, the lenders have a disproportionate amount of input into CAAMP and have an adversarial role in the broker industry.
  • Concerned Broker | 10 Jan 2013, 06:51 AM Agree 0
    Ironically I have been an AMP since day one of it's indtroduction, and have never once been asked by a client if I have my AMP designation!
  • John Bargis | 10 Jan 2013, 09:21 AM Agree 0
    I guess the survey is saying that the great majority of industry professionals that don't carry an AMP designation is dealing with less satisfied clients...Absolute nonsense!!!...Does CAAMP really believe the broker community is that ignorant...My advise to CAAMP is, try spending more resources to effectively promote the broker industry in the eyes of the consumer, rather than posting propaganda. Clearly it's approach has had little to no impact on convincing brokers and agents of it's value. It's time to try something new.
  • Elfie Hayes | 11 Jan 2013, 06:11 AM Agree 0
    I obtained my AMP when it was first introduced and as John said, have never been asked if I am an AMP by one of the thousands of clients my office has served.

    As a matter of fact if you asked 100 people on the street what an AMP was they'd say "a grocery store"!

    I have opted, along with many others to drop the AMP as a sign that the value is not there for me and the long standing valuable clients I have served for the past 14 years.

    I agree with the concept of promoting "Mortgage Agents and Brokers" instead of this empty designation.

    The mortgage world has changed and we are going back to doing what we did in 1893 when Mortgage Brokering was conceived. We're helping people who can't get a mortgage from the Bank. I for one am happy because it has taken rate off the table!

    Now it's our knowledge and relationships with various lenders that lets us flex our muscles and do what we do best.

    Anyone listening at CAAMP?
  • Keith - BC | 11 Jan 2013, 07:35 AM Agree 0
    There are a lot of things at issue here, hardly know where to start! First thing is the phrasing of the questions. If you ask someone, would you rather deal with an accredited mortgage professional? That is no different than asking them if they would rather deal with a licensed doctor. The consumer does not know that the only difference between and AMP and any other broker is the CAAMP fees paid and the rather non-robust courses. Imagine if the consumer found out that you got AMP credits for attending a conference...

    The other question it ask... Why does CAAMP push the AMP on people who do not broker mortgages? I mean... Why would a lender RBM have this designation? Do they deal with the consumer?

    The fact of the matter is... CAAMP is broken. The only reason why they have the membership is because some of the brands (you know who you are) have made it mandatory to belong. It seems to me that Paul Therien from Centum was the first of the brand leaders that stood up and said that they would not make it mandatory. Search the CMP archives to find the article, it is a good one.

    If CAAMP really wants to represent brokers, then stop pushing the AMP and starting using your resources to market licensed mortgage brokers to the Canadian consumer. If you can show value, and promote us as an industry... You might be surprised how much more support you get. Of course that would mean not sitting I the pockets of the lenders, and since CAAMP is NOT a broker association, we all know that will never happen. Just look at where the chairperson has come from the most... Brokers or lenders...

    When will brokers stand up for themselves as a unified group and start representing themselves? A national association is important, but perhaps CAAMP is not the right association for mortgage brokers after all.
  • Paul Therien - CENTUM | 11 Jan 2013, 08:04 AM Agree 0
    Since I see my name being quoted here, I thought it important that I put my two cents in.

    First and most important I want to clarify something. CENTUM Does support having a national association like CAAMP. This industry needs a national voice to work with government and one that promotes mortgage brokers to the consumer. CAAMP has for a large part been that voice for many years. Having lenders engaged is important. Do we need a stronger voice for brokers, perhaps, but that is for brokers to decide.

    My statement that we would not make membership mandatory is because we are a franchisor. It is our role to provide systems, tools, and brand - it is not to dictate memberships in associations. Do we encourage participation? YES we do, because it is important to our industry, and it presents opportunity for growth and the advancement of the profession.

    The best way to move forward into engage in dialogue, and work together to find a solution. This is an industry filled with intelligent and creative people, surely by working together we can accomplish anything we set out to achieve.

    We look for inspiration from our leadership, but we also need to find that from within. I for one would be happy to engage other leadership in this industry in a discussion about our future, I can't speak for others, but I'm willing to bet I am not alone in that.
  • Jennifer | 11 Jan 2013, 10:33 AM Agree 0
    Leadership? What leadership? Our "leaders" sat on a panel during CAAMP and instead of talking about what was really going on in the industry and addressing brokers concerns, all they talked about was CRM and keeping in touch with our customers. Gary Mauris used it as a platform to talk about Visa cards and the dlc marketing program, and then brow beat everyone about keeping in touch with our clients.

    Lets not talk about what's going on in the industry, or what needs to happen... No, let's just beat the same CRM drum we have been beating for years.

    That is not leadership, it's pandering and staying away from the tough questions.

    Leadership? Not from CAAMP and not for what I saw on the panel. So where are the leaders?
  • David....Calgary | 12 Jan 2013, 05:00 AM Agree 0
    CAAMP has grown remarkably since inception. It is a product of it's leadership, which of course manipulates all of it's releases, and blatantly over blows it's worth. Take the time to read their financial statements.
  • Kim | 12 Jan 2013, 05:33 AM Agree 0
    I had my AMP designation for 7 years and not once was I asked about it, despite having an AMP Residential Mortgage Specialist sign right on my office door. I believe the survey results were skewed due to the way the question was asked. I let my AMP designation lapse last year and it has not negatively affected my business in any way.
  • Kevin - Ontario | 16 Jan 2013, 05:50 AM Agree 0
    BAH - CAAMP is slowly but clearly demonstrating that it provides very limited value to mortgage brokers. Having an annual conference and regional meetings that we have to pay for in addition to the membership dues… well… I can see most of those speakers or take those classes at any time in the year and for usually less money than CAAMP is charging. Its attempt to partner with the provincial broker organizations is a thinly disguised effort to shut them out of the industry so that they are the only game in town – just look at what is happening in British Columbia and the MBABC. CAAMP has been and continues to be all but useless at lobbying the government. They charge fees for a designation that has not intrinsic value, either for its educational requirements or for consumer awareness, and try to justify that fee by claiming that they do consumer awareness – which doesn’t happen.

    Most of the people at the top of CAAMP are old industry veterans, and while they have all done some pretty great things in their career – they fight change every step of the way. That resistance to change is going to do far more harm than good, but try to talk to them about it and you get slapped down… firmly. They parade about like kings, and make anyone rue the day they ever ask what or why they do what they do.

    We need a national voice – but if anyone still believes that CAAMP is the true national voice of MORTGAGE BROKERS, well… they have never been that and they never will be by simple reason of the fact that lenders make up a huge chunk of their membership and are the biggest source of capital. Brokers need a voice that is their voice, and the sooner we all realize this and do what is necessary the better off we will be.
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