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Mortgage Broker News | 23 Apr 2015, 08:02 AM Agree 0
The verdict is still out for some, but many brokers are applauding the launch of a unified broker association being compared to the nation’s Realtor organization.
  • Blair Anderson | 23 Apr 2015, 11:02 AM Agree 0
    This is the right path for mortgage brokers. I'm delighted to see mortgage brokers standing up for themselves and controlling their own destiny. A national association, borne out of the provincial associations, exclusively representing mortgage brokers, was the best origin to establish the CMBA.

    With CAAMP out of the picture, the CMBA can effectively move our profession into the 21st century. I’m not sure there is any future for CAAMP. The conflict of interest between origination channels, is a fundamental flaw in CAAMP’s constitution. They may have other issues, but this is the nail that finally sealed their fate. Mortgage Brokers need to advance their profession, in a very competitive industry, and CMBA has all the hallmarks to help see that happen.
  • bc broker | 23 Apr 2015, 01:30 PM Agree 0
    Well said Blair
  • Brice | 23 Apr 2015, 01:32 PM Agree 0
    Well said Mr. Anderson.

    Unlike CAAMP, CMBA seems to be based on an appropriate foundation to service mortgage brokers.

    CAAMP not only has execution problems but has problems which go to its very core - CAAMP does not identify servicing mortgage brokers, but rather servicing a much broader sector in which mortgage brokers are seen as minions, as its reason for existing. This leads to CAAMP muddling the needs of mortgage brokers with a bunch of other needs (including CAAMP's own profit making needs). None of them (particularly those of the "minion" mortgage brokers), except CAAMP's, seem to be furthered.

    At least with CMBA, the appropriate foundation is already in place. The appropriate foundation from the perspective of mortgage brokers is that the reason for the existence of CMBA is to service mortgage brokers' needs.

    It appears CMBA is to be led by mortgage brokers for mortgage brokers purposes, whereas CAAMP appears to be led by non-mortgage brokers for CAAMP purposes.

    Granted CMBA will need to ensure it executes on the foundation in place, however in its short life it is already ahead of CAAMP. CAAMP has already failed on both the laying of the foundation and in executing anything worthwhile to mortgage brokers.

    To put it briefly, CMBA has given the mortgage brokering industry hope while it appears CAAMP is simply hopeless.
  • Blair Anderson | 23 Apr 2015, 04:57 PM Agree 0
    Thanks! Glad to see the support for CMBA growing. Like Brice said, nothing good can be built without first laying the proper foundation.

    I have renewed hope in our profession. To borrow a quote from the immortal Bob Dylan, "The times they are a-changin."

    Happy days!
  • Dennis Rajewski | 24 Apr 2015, 01:13 PM Agree 0
    FINALLY we are getting it right!! This is the first step but I have confidence that the rest will follow.It took a while but here it is. Congrats.Maybe now there will be affordable and meaningful "gatherings"
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