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Mortgage Broker News | 25 Jun 2013, 12:00 AM Agree 0
That four-letter word has once again reared its ugly head, and one broker is prepared to take CAAMP to court over two REDX reports that are hurting his business.
  • Paul Mangion | 25 Jun 2013, 07:58 AM Agree 0
    That's a great idea. Lets see if we can get the industry together and see what legally can be done. Spread the costs out so it becomes cheap for everybody. Count me in!
  • Ottawa Broker | 25 Jun 2013, 08:01 AM Agree 0
    Shawn, I hope the outcome is favorable for you, and the broker industry.
    I have suggested this before when the REDX name comes up in articles. "when a single agent fights a company like CAAMP or REDX, they seem to get no where, BUT, if we formed a class action suit with every agent in Canada that has an improper negative report on REDX" then we would get somewhere. The costs would be divided amongst hundreds of agents, the lawyer would work to dig deeper and in the end, we hold accountable the companies responsible for falsely tarnishing an agents name."

    This is also a prime example that CAAMP does NOT support us or they would not be trying to blackmail us through REDX to maintain the AMP designation.

    CAAMP is a joke and the mortgage agents that "supposedly" run CAAMP.

    I shudder to think what my REDX report looks like as I cancelled my AMP, got talked into reinstating it and then I cancelled it again. REDX must have me in the dungeons and torture chambers as a repeat offender.
    All with the support of the organization that says they are here to represent and support the broker community.

    What a bunch of garbage. CAAMP, leave our industry and we would be the better for it.
  • A Lender | 25 Jun 2013, 08:14 AM Agree 0
    I think there is more to this than is being made public by the media. CAAMP is a reputable association and doing an excellent job! It's disturbing that this platform and brokers consistently bash the association and the hardwork and good will they do.
  • Chandra Neogy | 25 Jun 2013, 08:26 AM Agree 0
    Allen, please count me in when are taking legal action against REDX & CAAMP, will share costs with you, thanks.
  • Paul Whatmore | 25 Jun 2013, 08:38 AM Agree 0
    Shawn I think it is right this issue be addressed, however, I think you are barking at the wrong tree. Having seen my own REDX report and having involved CAAMP in the discussions. The issue is stupidity on the part of REDX, an incident should be criminal in nature. Dealing in bad documents, making claims to a lender or client that are fraudulent in nature... that is an incident. That you are or are not an AMP is public record because it is promoted by CAAMP as being above the cut.
    REDX is STUPID. STUPID because they should have a simple box located on their REPORT form that says "AMP" yes or no. Its that simple and that stupid. Go after them and I am pretty sure there are others willing to put some cash in for the pursuit of justice. I am aware that a large brokerage in Ontario is dealing with lawyers on this matter as well at this time. Reach out it may be worth your while.
  • Judy | 25 Jun 2013, 08:52 AM Agree 0
    I think it's interesting that "A Lender" is the only one on this forum that is on CAAMP's side...does that say anything to us brokers...?
  • Robert McLaughlin | 25 Jun 2013, 09:14 AM Agree 0
    After reading this article, I did some investigation into REDX myself as I was not terribly familiar with it. Having gone to their website I didn't see where an individual was able to review their own REDX Report. I find it odd that as a Canadian we have the right to review our own Credit Bureau reports but not a REDX Report. I think it's highly unappropriate for an organization to handle a "secret" report, which can contain false anonymous information with out the individual having the ability to at least have a dispute process in place. Now I might be mistaken, maybe I just didn't see it, but without being able to review or dispute a false allegation, reminds me of living in communist block country with no civil rights. I don't think you can arbitrarily get rid of CAAMP as we need a "National" organization to represent brokers on a Federal basis. But isn't CAAMP supposed to be looking after individual broker rights and provide support? The fact they endorse REDX but we have no right to access the information is a slap in the face to me as a broker. Don't get me wrong, if someone's REDX report discloses that they crossed the line and committed a fraudulent act, then feel free to hang the report around their neck for all to see. BUT in this country, being a democratic country, we have a right to defend ourselves, we are not presumed guilty first...Just my two cents.
  • another ottawa broker | 25 Jun 2013, 09:33 AM Agree 0
    I agree that both CAAMP and REDX has to go, the fact that it’s an anonymous to report doesn't give any consequences to the people who could be filing fake claims. This could cause some issues, REDX clearly doesn’t work and the broker community needs to work with one another to find a solution.
  • Paul Whatmore | 25 Jun 2013, 09:46 AM Agree 0
    Actually I am a broker who is on CAAMP's side as well. REDX is our issue. I have 4 incidents registered against me. 3 are that I am an AMP, and therein lies the STUPIDITY. How can being an AMP be an incident?
  • Paul Whatmore | 25 Jun 2013, 10:00 AM Agree 0
  • Jeremy Nagel | 25 Jun 2013, 11:42 AM Agree 0
    I requested my report over a month ago and to-date I have received nothing back. Should something negative appear, I'll jump on board a class-action.

    I read someone defending CAAMP and I really have no idea whether they are to blame or not, but what I find interesting is that CAAMP has chosen not to comment. The question I have is, how would REDX have information about the AMP if it wasn't for CAAMP submitting it to them?

    CAAMP, as a member, I would like you to step up and take REDX to task.
  • Robert Stanfield, INVIS | 25 Jun 2013, 12:01 PM Agree 0
    I have sent numerous emails regarding this issue and others to CAAMP and I either get no response, or a generic response. Definitely not the detailed explanation I was looking for. If CAAMP was a service I was not required to use by INVIS, I would definitely not be a member of CAAMP.

    Don't see the ROI for my membership dues.
  • Robert Stanfield, INVIS | 25 Jun 2013, 12:05 PM Agree 0
    If I was a CAAMP executive, I would definitely be responding to comments so as to eliminate any negative or untrue statements that have been made.

    I find it very interesting that in the years this forum has been open, I personally have never seen an explanation or comment from a CAAMP executive or employee. I am assuming there has been a "gag" order placed on CAAMP employee's and executives from commenting in this forum.
    Which makes me wonder why?????

    Why hasn't REDX responded either????
  • A Broker | 25 Jun 2013, 12:22 PM Agree 0
    We should have easy access to our records and be able to defend ourselves against lenders and others who can register anything they like. I have something on file with a lender I placed one deal with a B lender and then turned it into an A deal with TD. Cause - personality dis-function by the lender rep who had a serious drinking problem. Who pays for it? We do.
  • John Dearin | 25 Jun 2013, 12:24 PM Agree 0
    I requested my report from REDX two months ago, and it was delivered free of charge the same day. No issues there.
  • A Broker | 25 Jun 2013, 12:25 PM Agree 0
    I do not belong to CAAMP and will not join. I believe they have done more of a disservice to our business than helped. The designations are gimme's and REDX is another case in point as to how they operate. They should be disbanded and a true professional national organization put into place.
  • kac | 25 Jun 2013, 01:26 PM Agree 0
    while i agree with the comments regarding caamp and redx,what can one say about the lenders who are so quick to read and react and not really care if what they are reading is fact or not? We obviously are living in a world where the easiest path for these people is the one that is traveled.
  • Chandra Neogy | 22 Jun 2018, 09:43 PM Agree 0
    Iam with you Shawn Allen , support the point that all us get together and sue CAAMP & RDX we can share the cost and I think something will be done , I am a victim too.
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