has issued its first comment about the Canadian Mortgage Brokers Association, criticizing its brokers-only approach.
“Regrettably, our proposal and approach was not accepted by the leadership of the provincial organizations, and that process came to an end in January 2015,” an official release from the CAAMP Board of Directors states. “Instead, yet another national organization was created to solely represent mortgage brokers – not the channel as a whole – potentially fragmenting our unified voice, and further dividing our resources among duplicative structures.”
The criticism comes a mere day after the CMBA – a unified organization comprising several provincial organizations – was officially announced.
According to the release, CAAMP had been in talks with provincial associations throughout 2014 but that its proposal to create a “new, single unified national organization with a new name” was rejected by the provincial organizations.
That proposal included:
• Improved member engagement and better communications
• Reduced costs and improved efficiencies
• Direct consumer marketing of the value of mortgage brokers
• Improved AMP: tougher and more meaningful
• Enhanced broker chapters to ensure we have great “on-the-ground” participation and insight into every region
With CMBA’s announcement Tuesday, it appears a number of those provincial organizations have
proceeded without CAAMP’s support.
“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.”