That is why it is great news for Canadians of the mortgage industry that now has national accreditation: Accreditation of Mortgage Professionals (AMP). To meet with a mortgage broker with an AMP, was assured that his company is in the hands of a professional.

Canadians are accustomed to buying financial products like insurance and investments of a professional accredited. Now you can search for a name similar to your mortgage professional expert.

Like similar accreditation schemes for sales of mutual funds to individuals, or securities brokers, the AMP is designed to ensure an adequate level of training and experience. Mortgage professionals in each field are eligible to acquire accreditation: mortgage brokers on the front lines to those that specialize in mortgage loans or insurance, for example.

While the vast majority of Ontario mortgage brokers take seriously the important responsibility to their customers, the designation provides mortgage customers with a tool to help select their mortgage expert. This type of designation is particularly valuable in an industry where provincial regulations vary - and thus a wide range of practice standards in force. A single national standard of competition brings mortgage brokers in line with other financial professionals.

The appointment of AMP can now offer the confidence that your mortgage broker has experience in the industry, has taken ethics and industry training, and is committed to a continuing education program to keep his appointment. To qualify for the designation, mortgage professionals must have at least five years experience or successfully complete a mortgage recognized course of professional, and take a training course in ethics. They must also commit to a minimum of 10 hours of continuing education each year, and undertakes to abide by the professional code of the national organization CIMBL.

With a growing number of Canadians who are now seeking the services of independent mortgage brokers to help them assess their options for mortgages - in a $ 600 billion industry - the timing is perfect. It’s his money, after all, and you must have the tools to make the best decision possible. An independent mortgage broker can offer the widest range of mortgage rates and options. We can also offer the added value of ensuring their newly minted designation: the AMP.