Independent Mortgage Brokers Association of Ontario
The Independent Mortgage Brokers Association of Ontario (IMBA) is a volunteer-based organization of independent mortgage financing professionals. The IMBA exists to advance the mortgage broker industry on behalf of its members through public advocacy. In addition to working with industry regulators and other industry professionals, the Association provides a wide range of services to help its members with their businesses.
Member Education and Training
IMBA members are required to meet professional standards as a condition of membership. Currently, the Association has over 1,600 members which represent more than 300 companies throughout Ontario.
The IMBA’s membership is comprised of representatives from mortgage-related industries including mortgage brokers and agents, lenders, title insurers, appraisers, lawyers, and real estate professionals.
Members also have access to professional development conferences and seminars. Other member benefits include continual updates on industry advancements, products, trends, and regulatory matters – factors that contribute to a more knowledgeable and trust-worthy mortgage financing service. Mortgage brokers and agents looking to become IMBA members must meet licensing standards before joining. In order to further professional development, the Association also provides training for professionals looking to become Certified Professional Mortgage Brokers (CPMB) and Certified Professional Mortgage Agents (CPMA).
Association Ethics and Standards
The IMBA actively works to not only advance the mortgage-broker industry, but also to ensure both the profession and the industry maintain high standards of regulation and conduct. The IMBA has participated in the consultative process that started in 1991, to re-write mortgage broker legislation for Ontario. These efforts resulted in the Mortgage Brokers, Lenders and Administrators Act, 2006, which came into effect on July 1, 2008.
In addition, the Association provides a Standards of Conduct, which reinforces a professional’s obligations of honest and fair service that meets industry regulations and standards of excellence.
