Canada Mortgage Professionals (French: Professional Mortgage of Canada ) is the National Association Representing Canada’s mortgage industry. Mortgage Professionals Canada’s membership includes 12,000 mortgage brokers, mortgage lenders, mortgage insurers and other industry stakeholders. [1] Mortgage Professionals Canada (MAC) provides the Accredited Mortgage Professional (AMP) designation in Canada, to qualifying mortgage professionals.

Mortgage Professionals Canada provides mortgage professionals with the Accredited Mortgage Professional (AMP) designation – the national designation for professionals in Canada’s mortgage industry.

Mortgage Professionals Canada is also a consumer advocate, educating Canadian consumers about obtaining a mortgage, and providing access to a cross-country network of mortgage professionals.

Activities

Mortgage Professionals Canada provides advocacy, education and information to mortgage professionals, regulators , and mortgage consumers, to help ensure a transparent and ethical mortgage marketplace in Canada. [2]

Mortgage Professionals Canada’s activities include:

  • Providing information to Canadian consumers of the benefits of dealing with a mortgage broker
  • The Canadian Residential Mortgage Market, published annually in the spring [3]
  • Advocating for legislative and regulatory issues [4]
  • Developing, Monitoring and Promoting Mortgage Industry Standards and Conduct, including Mortgage Professionals Canada’s Mortgage Originations Standards , which represent the minimum standards of care and due diligence required for the acceptance, completion and submission of mortgage loan applications during the normal course of business
  • Delivering training for mortgage professionals through its professional development courses, including licensing and re-licensing courses, and AMP designation programs through Mortgage Campus.

Mortgage Professionals Canada is the official provider of:

  • Mortgage Broker [5] and Mortgage Agent [6] education programs that provide Government of Ontario licensing for brokers and agents.
  • Mortgage Salespersons Licensing Courses in Manitoba [7]
  • Mortgage Associates licensing courses in Saskatchewan [8]
  • Materials (Introduction to the Canadian Mortgage Industry 4th ed., 2012) for B301 & B321 Courses Bachelor of Applied Business – Accounting & Financial Planning courses at George Brown College [9]
  • Provide regulatory and educational information to mortgage consumers and association members [10]
  • Help Compliance Officers, Fraud Investigators, Quality Assurance Professionals and Corporate Senior Management teams learn of Developments of fraudulent activities and fraud prevention initiatives dans le mortgage industry through ict Mortgage Fraud Summits
  • Publish Mortgage Journal eight times annually in English and French, in both print and online formats
  • Provide education and networking Opportunities to members through icts annual Mortgage Forum Conference

AMP designation

Mortgage Professionals Canada created the Accredited Mortgage Professional (AMP) designation in 2004 to increase the level of professionalism in Canada’s mortgage industry. [11] AMPs must meet a number of qualifications, which include successfully completing mortgage education courses that cover ethical practice and responsibilities, and completing Continuing Education (EC) units each year in order to maintain their designation. [12]

Annual conference

Held annually in the fall, Mortgage Professionals Canada’s Mortgage Forum is the largest gathering of mortgage professionals in Canada. The conference offers educational and informational sessions designed to help attendees advance their business, and features keynote speakers , a trade show and networking opportunities for expectations. The 2013 Mortgage Forum was held November 24-26, 2013, in Toronto, Ontario. [13] The 2014 Mortgage Forum will be held in Montreal, Quebec.

Governance

Mortgage Professionals Canada is governed by a 6-person Executive Committee and a 12-person board of directors that represents seven regions across Canada.

The Foundation

The Foundation is committed to raising awareness of the importance of financial literacy [14] and responsible consumer borrowing through a variety of initiatives, such as contributions to Habitat for Humanity , funding of research projects, the provision of education materials and publications Scholarships for emerging leaders. The Foundation also now funds scholarships for post-secondary students in need of financial assistance to assist with their education.

See also

  • Real estate broker
  • Real estate trends
  • List of real estate topics
  • Canadian Real Estate Association
  • Appraisal Institute
  • Mortgage fraud
  • Canada Mortgage and Housing Corporation

References

  1. Jump up^ ” ” Mortgage Professionals Canada – About Us “Main Website” . Mortgage Professionals Canada. December 4, 2015 . Retrieved December 15, 2016 .
  2. Jump up^ “CAAMP annual Report 2012/2013” . ACCHA. December 3, 2013 . Retrieved December 4, 2013 .
  3. Jump up^ “Wall Street Journal: CAAMP releases annual spring report on residential mortgage market” . Wall Street Journal. May 22, 2013 . Retrieved February 4, 2014 .
  4. Jump up^ “Canadian Mortgage Trends: Finance Minister Jim Flaherty meets with CAAMP” . Canadian Mortgage Trends. September 18, 2013 . Retrieved February 3, 2014 .
  5. Jump up^ “Becoming a Licensed Mortgage Broker” . Financial Services Commission of Ontario. August 12, 2013 . Retrieved April 27, 2014 .
  6. Jump up^ “Becoming Licensed as a Mortgage Agent” . Financial Services Commission of Ontario. August 12, 2013 . Retrieved April 27, 2014 .
  7. Jump up^ “Mortgage Broker” . The Manitoba Securities Commission. April 28, 2011 . Retrieved April 28, 2014 .
  8. Jump up^ “Superintendent of Financial Institutions Approved CAAMP’s Saskatchewan Mortgage Associate Course” . Financial and Consumer Affairs Authority. November 15, 2011 . Retrieved April 27, 2014 .
  9. Jump up^ “Mortgage Underwriting & Admin” . George Brown College. November 15, 2011 . Retrieved April 27, 2014 .
  10. Jump up^ “CBC: The Current Housing Market: Mortgages & Interest Rates, Broadcast” . CBC. May 28, 2012 . Retrieved February 4, 2014 .
  11. Jump up^ “What is an Accredited Mortgage Professional?” . First Foundation. September 15, 2013 . Retrieved April 27, 2014 .
  12. Jump up^ “The Importance of having an Accredited Mortgage Professional on Your Side” . Banknerd.ca. September 15, 2009 . Retrieved February 4, 2014 .
  13. Jump up^ “CAAMP Mortgage Forum 2013.” . Canadian Mortgage Trends. November 16, 2013 . Retrieved February 4, 2014 .
  14. Jump up^ “Mortgage industry & credit counselors team up on Financial Literacy for homebuyers” . Financial Post. June 23, 2010 . Retrieved February 4,2014 .