Definition of an Accredited Mortgage Professional
An Accredited Mortgage Professional (AMP) is a designation for those in the mortgage industry that have passed a single national proficiency standard for mortgage professionals in Canada.
The AMP is a relatively new designation, started in 2004, and is intended to insure a high level of professionalism, education, and training within the mortgage industry in Canada.
Accredited Mortgage Professionals are members of the Canadian Association of Accredited Mortgage Professionals, (CAAMP) an organization of over 12,000 members representing 1500 companies (stats updated 2013) throughout the country. CAAMP continually provides a wide array of educational services to their members to insure they are up to date with all industry, legal and ethical developments within the industry.
Becoming an AMP
Before becoming an Accredited Mortgage Professionals, applicants must have gained a certain amount of experience in the mortgage industry, completed required training courses including an ethics program and after designation, AMP’s must commit to yearly continuing education to retain their designation.
An AMP may seek a further designation as either a Residential Mortgage Specialist or a Commercial Mortgage Specialist. In addition, Accredited Mortgage Professionals agree to a Code of Ethics set forth by the Canadian Association of Accredited Mortgage Professionals, and agree to submit to the complaint and disciplinary procedures created by CAAMP.
AMP is a Higher Standard
The designation of the Accredited Mortgage Professional provides assurances that the individual mortgage professional or firm has met the highest standards of professionalism in the mortgage industry. As a voluntary designation, the designation of an Accredited Mortgage Professional demonstrates that the AMP has gone beyond the bare minimum. It demonstrates the desire of the AMP to seek a higher standard for themselves and their firm, and is willing to go the extra mile in their profession.
Related Definitions
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