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Mortgage Broker News | 14 Sep 2011, 10:00 AM Agree 0
CAAMP’s chair is acknowledging, and even welcoming criticism of the AMP designation, and its qualifying standards, at the same time pointing to real progress – past and present – in strengthening it.
  • Dave Lytton White House Mortgages | 15 Sep 2011, 02:22 AM Agree 0
    I sure don't see much advertising about AMP in Kelowna. I've been in the biz 10 yrs and used to be an AMP, but felt the value was less than minimal and was a money grab so I stopped. I still take lots of courses; I agree with keeping up on my industry but the money I put out HAS to give me a positive ROI.
  • AB Mortgage Broker | 15 Sep 2011, 02:52 AM Agree 0
    I'm not sure CAAMP gets it! How can a bank rep "earn" an AMP? They can buy one, but by definition they can't earn one. Get real!

    Funny how CAAMP preaches ethics, yet they bring in Lance Armstrong to speak. He is not someone how should be speaking as his whole tour de france career was about blood doping and steroid use. Come on CAAMP. It's time you started making some better decisions! Laughable...
  • Johnathan | 15 Sep 2011, 02:53 AM Agree 0
    Actually the AMP application states that an "originator" must be licensed OR have completed the "equivalent education requirements". The application allows you to choose "Underwriter/Lender" as an option, which I assume Road Warriors are. Therefore, how is the AMP just for brokers? It seems to me that any CAAMP members can be AMPS, which means that our competition, the banks, have the same competitive edge as us when it comes to the AMP designation. Ads say choose an AMP. Well, that can be a banker. Using my membership fees to support my competition isn't helpful.
  • Ottawa Broker | 15 Sep 2011, 02:57 AM Agree 0
    I agree with Dave Lytton. I take courses, keep up on my industry and I don't need an AMP designation to make me do this. I feel there is no value for our AMP designation and no value with CAAMP being our national representative. I like the set up at IMBA in Ontario. Lenders can be members, but lenders are not allowed to sit on the board or have a vote on any issues. Plus there is no big salaries for people working at IMBA. IMBA is run by brokers, for brokers. In my opinion CAAMP is for lenders first, not brokers. The CAAMP annual conference, why do we pay almost $1000 to attend? Why isn't that paid by CAAMP and the booth rentals? Why is every single thing involving CAAMP cost us money and in the end, what do we get??????? I have never seen any advertising regarding the AMP and Ottawa is a very strong broker market. The insurance industries goiverning body does a great job of advertising and educating the public about insurance brokers, why doesn't CAAMP???
  • BC Lender | 15 Sep 2011, 03:12 AM Agree 0
    When and where is Lance Armstrong speaking for CAAMP? I don't see his name listed on as a speaker at any upcoming CAAMP events.
  • @kiltedbroker | 15 Sep 2011, 04:15 AM Agree 0
    Here is my personal assessment (and maybe its limited due to only 4 years in the industry) But I feel that Independent Mortgage Brokers & Professionals see little value in CAAMP or the AMP designation.

    The Strength of any organization is in its people, why was $607,269 spent on promoting a designation that most brokers don't see as valuable? I mean really, who made this decision? Regardless of how much you spend on advertising you will never make a difference if you can't mobilize your people to support and be proud of the organization or designation. I would say morale is pretty low here.

    I wonder how long it is until someone steps up to the plate and proposes an association with a professional designation that is for brokers only? Maybe that has already happened...

    A mortgage revolution perhaps?
  • Michael Cameron | 15 Sep 2011, 04:23 AM Agree 0
    I am glad to hear CAAMP's view, it is key to have a balanced discussion. I think it is important to not make this into a 'bash' session but to find productive ways to accomplish an end result. I think everyone agrees on the value of a professional designation. We need to make sure that ALL of 'Our Channel' are working together to make this work. If we remain fragmented and competitive then we are in for some real problems.

    My intent was never to discredit or condemn any organization but rather to open the discussion and voice concerns publicly so that they can be addressed. I'm glad to see that is happening.

    We have a fabulous industry that provides exceptional career opportunities for those that view it as a profession. Let's continue to work together in a productive, respectful fashion to make the kind of industry that I believe we all strive for. Do your homework, read the annual reports, discuss initiatives with industry leaders and voice your well thought out opinions.

    Together we can be better. As long as we continue to be better today than we were yesterday we know we are moving in the right direction.
  • Angela Wong-Liao, Invis Inc | 15 Sep 2011, 06:58 AM Agree 0
    I am glad CAAMP is open for discussion in regards to AMP designation. It is very essential that we have a voice from the broker channel and a strong broker organization can assist our industry for future issues with the lenders and the government. Yes, to raise the bar for AMP qualification and only restricted to mortgage broker (no banker) is a great idea because it distinguish the broker channel from the bank road reps.
  • Madison, Calgary | 15 Sep 2011, 11:13 AM Agree 0
    I think the AMP is a HUGE CASH GRAB. None of my clients ever ask about it or whether I have it. They don't care. Usually people ask what the AMP stands for and just shrug when you tell them. It is the most useless and unnecessary legislation and needs to be scrapped. I wouldn't mind if you just had to pay for it but to continually have to take course (and pay for them) to keep adding to the CE credits is such a waste of my valuable time and money. I get nothing out of the courses they are same old, same old, same ideas - nothing new or exciting. And, the money wasted on 'commercials' on the radio stations that no one listens to, is another big joke. Wake up CAAMP. We don't want the AMP. Thanks
  • @kiltedbroker | 16 Sep 2011, 03:54 AM Agree 0
    Madison, what do you propose instead of the AMP designation?
  • Stefano in Toronto | 16 Sep 2011, 06:10 AM Agree 0
    true AMP is pure rubbish. a bank teller with grade 12 education can be an AMP. I agree CAAMP is delusional, why not add Conrad Black to speak about fiduciary responsibiites and Bernie Ebbers talk about create the right culture in your brokerage. It is time for a national association FOR AND RUN by brokers. plain and simple. My MBA means much more than the $299 paid for designation. Also time fo rus to pay executives at work the industries betterment not their own self grandification.
  • AB Mortgage Broker | 16 Sep 2011, 08:04 AM Agree 0
    BC Lender, thanks for pointing out that I am incorrect and in fact, Lance will not be speaking at the CAAMP symposium-I stand corrected. My position is not to bash CAAMP simply to share my frustration with an organization I once supported whole heartedly.

    It's time for CAAMP to setup and take ownership for not listening to their members, and I mean the greater majority. It's obvious its membership sees little value, but what baffles me is that those same people complaining are still paying their dues. Lets speak with our wallet and stop paying our dues. Together we can move forward with the mortgage revolution and put our money into something we, as members, will have a say in. United, we can make a difference!

    I hope you are all having a great week! Cheers
  • @kiltedbroker | 16 Sep 2011, 01:18 PM Agree 0
    Stefano, what do you propose instead of the AMP designation? Okay... a National Association FOR and RUN by brokers... what does that look like?
  • stefano | 21 Sep 2011, 02:39 PM Agree 0
    it looks like a broker only trade association. much like CGA, PEng, etc. you have to be one to be a trade member.
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