The $500 billion Canadian mortgage industry is taking steps to develop a formal accreditation process for its members, ultimately leading to the designation Accredited Mortgage Professional (AMP).
The accreditation process will be operated by the Canadian Institute of Mortgage Brokers and Lenders (CIMBL), the 5,000 member organization that represents major mortgage industry stakeholders.
The AMP accreditation program is being presented to CIMBL members at the organization’s 8th annual Conference and Expo in Toronto. November 23-25.
“Accreditation will bring the mortgage industry into line with other financial services sectors, such as Certified Financial Planners who have already developed professional designations,” said Michael Beckette, CIMBL president, in a news release.
The CIMBL says the accreditation program will also be an important step in harmonizing mortgage industry standards across Canada.
Highlights of the program include:
- development and standardization of mortgage industry licensing courses;
- mandatory participation in professional development programs; and
- ongoing continuing education.
The AMP designation process is being developed by CIMBL senior director of professional affairs, Mark Webb.