A more cohesive broker voice may soon be realized, with The Alberta Mortgage Broker Association (AMBA) announcing Tuesday it is working closely with other provincial bodies and regulators to ensure better coordination among the various organizations.
“In November 2013, a first meeting was held in Toronto with the executives of the Canadian Association of Accredited Mortgage Professionals (CAAMP), the Mortgage Brokers Association of British Columbia (MBABC), the Independent Mortgage Brokers Association of Ontario (IMBA), the Mortgage Brokers Association of Atlantic Canada (MBAAC) and AMBA to discuss whether there was interest in working together to coordinate our efforts, reduce duplication and ensure the best interests of the memberships are well served,” AMBA president, Gord Appel says in a letter sent to AMBA members, obtained by MortgageBrokerNews.ca. “We are pleased to say that all those in attendance agreed that the time is right for this discussion to happen and that the goal of integration in some form is needed.”
While Appel admits there is much work to be done, he believes plans have been set to better meet its members needs and, as a result of the increased cooperation, the needs of brokers across Canada.
“A provincial association is best served to meet members’ needs with respect to regulation, but there are large national issues for which the larger body can be responsible,” Appel says. “There are many other areas such as communication, events, sponsorship and fees being reviewed as part of this discussion process.
“How all this will work, what the cooperation will look like and the end structure all need to be further discussed, but the conversation is happening.”
The organizations are aiming for March for their next meeting and all parties involved are optimistic the results will be positive.
“AMBA’s board has voted unanimously to be supportive of these efforts and is hopeful that a coordinated approach to the industry can be achieved,” Appel says. “A national-provincial structure that works together with defined roles for each can only result in more effective and efficient representation of member interests.”