The Canadian Institute of Mortgage Brokers and Lenders (CIMBL) announced today that it is transforming itself into a 100% accredited, professional association over the next 12 months.

“Canadians have made it absolutely clear they support this move,” said Ron Swift, president, CIMBL speaking to more than 2,000 delegates at the association’s annual conference in Toronto.

In a survey conducted by Pollara in September for CIMBL, 75% of Canadians polled indicated support for the development of a national accreditation for mortgage professionals. This support increased to 83% among current mortgage holders.

“Clearly the Canadian public has a strong desire to see professional accreditation in the mortgage industry,” said Swift. “Additionally, we surveyed our membership and mortgage professionals also indicated the same strong desire so CIMBL has responded with this move towards professional accreditation.”

The Accredited Mortgage Professional (AMP) is Canada’s national designation for mortgage professionals. Launched in January 2004, the AMP was developed by CIMBL as part of an ongoing commitment to increasing the level of professionalism in Canada’s mortgage industry through the development of educational and ethical standards. The AMP designation sets a single national proficiency standard for Canada’s mortgage professionals.

For the consumer, the AMP designation provides reassurance that the mortgage professional has met the highest standard of education and training and is bound by a strict code of ethics and has committed to continued education. For mortgage professionals, accreditation increases credibility with business partners.

The move towards AMP designation comes at a time when new legislation is expected to be introduced by several provincial governments including Ontario that will reflect changes to the Mortgage Brokers Act.