AMBA, MBAAC and IMBA Announce Strategic Alliance

The Alberta Mortgage Brokers Association (AMBA), the Mortgage Brokers Association of Atlantic Canada (MBAAC) and the Independent Mortgage Brokers Association of Ontario (IMBA) and have formed a collaborative partnership that will bring together three provincial industry associations.

AMBA, IMBA and MBAAC will align resources to support education, self-regulation, errors and omissions (E&O) insurance, as well as harmonization of regulatory and government affairs. All three associations seek to form alliances with organizations that work to better the mortgage brokerage industry and support the objectives of their respective associations and their members.

“AMBA is committed to our mission and goals of the association and this partnership brings together fellow associations whose continued success hinges on the ability to innovate and to respond to industry change. It’s our goal to better the industry and, through teamwork, I truly believe we will enhance industry professionalism and become a professional association,” said AMBA President Paul Bojakli.

“MBAAC is excited to have the opportunity to partner with these veteran associations who have many years of experience in providing strong leadership in our industry and to their members. We feel confident this new partnership will allow us to offer more benefits, a cross-provincial perspective and greater collective strength to our members as we continue to grow our association in Atlantic Canada,” said MBAAC President Glen Ward.

“IMBA is extremely proud of this strategic affiliation and view this as an important step forward for our industry and for our respective members. Aligning with other associations allows us to strengthen our voice in the industry as it relates to working closely with our regulators and will empower us to bring consistency to common issues and opportunities such as education and licensing. This relationship will also strengthen our collective ability to deliver greater value-adds such as stronger E & O pricing programs for our members and will allow us to explore other incredible initiatives. We are excited and honoured to be aligned with these associations and hope this is the first step towards seeing all the associations working in unison to better serve our industry,” said IMBA President Albert Collu.

The associations’ partnership will focus on:

• Creating a national education program that exceeds the minimum criteria for licensing and that eventually leads to licencees achieving professional designations
• Starting a dialogue with regulators, politicians and consumers with respect to self-regulation
• Identifying E & O insurance programs that are economical, universally available and broad-based in terms of coverage
• Establishing a joint voice to speak to regulators and politicians