So I know it has been a little quiet of late on the blog front but I wanted to assure you that does not mean things are not happening. As you may know I have been a strong proponent for change in our industry for many years. In 2012 I decided that the best way for me to be a catalyst for that change was to get involved with our national association, The Canadian Association of Accredited Mortgage Professionals (CAAMP). With your support I was elected to the Board and have been working hard from within to continue the good work that those before me have started. Last year was a year where CAAMP undertook a review of it’s strategic plan and was largely the reason I decided to run for the Board.
Many of you that I have spoken to over the years have talked to me about the need for change in our professional designation, the AMP. I am happy to report that that process is well underway. Some of the highlights of the forthcoming changes CAAMP reported last year are:
Broker Only Designation
The AMP designation will become a broker only designation. Broker defined as anyone who is duly licensed to broker mortgages in their jurisdiction. Recognizing that CAAMP is the voice of the Broker Channel, which includes our lender and insurer partners, there will be a new designation created for them.
In order to obtain your AMP designation you will be required to pass a national competency exam. This is in the process of being developed now.
There will be changes to the experience requirement component which will not only require a minimum time frame in the industry but a minimum amount of deals funded or supervised, depending on your role within your organization.
There will continue to be a continuing education component to the AMP program and details are still being worked out.
Last year CAAMP conducted a survey of members and non-members, AMP’s and non-AMP’s to get feedback on the exact implementation of the above concepts. 2014 will see final decisions and roll out of the enhanced AMP program. This is a major step in the right direction and I am proud to be part of it. If you have any comments, questions or suggestions feel free to drop me an email or leave a note in the comments below.