Canada's Mortgage Industry Supports OPC's Audit of Selected Mortgage Brokers

OTTAWA, June 8 /CNW/ - The Canadian Association of Accredited Mortgage Professionals (CAAMP) said today it acknowledges and supports the findings of the Privacy Commissioner of Canada's Audit of Selected Mortgage Brokers. CAAMP, which represents more than 12,000 mortgage professionals in Canada, is committed to working closely with the Office of the Privacy Commissioner of Canada (OPC) to investigate and resolve these problems.

"CAAMP's membership takes privacy policies very seriously and intends on following the important recommendations put forward by the OPC," said Jim Murphy, AMP, President and CEO, CAAMP. "CAAMP has an ongoing commitment to improving the information-handling procedures of mortgage brokers and their agents to ensure continued client protection."

It is worth noting that the OPC's report focuses on five brokerages which already had reported problems, one of which is no longer in business. CAAMP believes the vast majority of mortgage professionals have implemented stringent and effective privacy standards.

About CAAMP

Established in 1994, the Canadian Association of Accredited Mortgage Professionals (CAAMP) is Canada's national mortgage industry association. CAAMP has assumed a leadership role in the industry it serves and has set the standard for best practices for Canada's mortgage practitioners. In 2004, CAAMP created the Accredited Mortgage Professional (AMP) designation as part of an ongoing commitment to increasing the level of professionalism in Canada's mortgage industry.

As a membership-based organization, CAAMP strives to develop its network of professionals and to represent the interests of these individuals to government, media and consumers. CAAMP has attracted 12,000 members and 1,600 companies from across Canada - representing over 90% of Canada's mortgage activity. CAAMP members make up the largest and most respected network of mortgage professionals in the country. CAAMP's membership base consists of mortgage lenders, brokers, insurers and other industry participants.

For further information: Jim Murphy, AMP, President and CEO, CAAMP, Office [phone], [email protected]; Renée Mellow, Media Profile, Office [phone], [email protected]