Mortgage Education Catalogue

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1 CAAMP s Mortgage Education Catalogue Best Practices Knowledge Leading Edge Standards ProfeSSionalism Training for Success The success of any mortgage professional lies in their knowledge, skills and competency. Maintaining a standard of current education ensures accountability to the client and to the industry as a whole. Adapt to an ever changing marketplace and maintain a competitive edge by meeting today s challenges and being prepared for tomorrow.

2 contents As the foremost provider of mortgage related instruction, CAAMP plays an integral role in providing timely and relevant training and education opportunities. Whether you re new to the industry or a seasoned veteran, CAAMP education offerings are designed to help you stay current, achieve success and stay up-to-date on issues facing our industry. AMP DESIGNATION PROGRAM... 1 AMP Optional Courses Residential Mortgage Underwriting from a Lender s Perspective Understanding Specialized Mortgages Understaning Real Estate Transactions Mortgage Practice Standards Real Estate and Mortgage Economics and Investments The Regulatory and Complaince Environment Strategy and Business Management Human Resources Management MANAGING BROKER COURSES... 2 Ontario Mortgage Broker Education Program Saskatchewan Mortgage Broker Education Program INTRODUCTORY COURSES... 4 Ontario Mortgage Agent Course Manitoba Mortgage Salespersons Course Saskatchewan Mortgage Associate Course Nova Scotia Mortgage Broker Course Newfoundland and Labrador Mortgage Broker Course All Provinces Practical Brokering Series Analyzing the Credit Report 2. Assisting New Canadians 3. Assisting Self-Employed Borrowers 4. Closing the Transaction 5. Completing the Application 6. Developing a Functional Business Plan 7. Distinguishing Lender Styles 8. Establishing Financial Strategies 9. Exploring Non-Traditional Financing Options 10. Financing Construction Mortgages 11. Interpreting Real Estate Contracts and Appraisals 12. Investing in Rental and Recreational Properties 13. Preparing the Submission 14. Reviewing Supporting Documentation 15. Understanding Basic Mortgage Products 16. Understanding Specialized Mortgage Products Continuing Education... 8 COMPULSORY CATEGORY Anti-Money Laundering: A 360 Perspective Busting the Air Loan Broker s Guide to Anti-Spam Legislation Canadian Code of Advertising Standards Improving Broker Channel Success Introduction to Privacy Lender Perspectives Practices for Fraud Prevention BC Preventing Mortgage Fraud Prosecuting Mortgage Fraud Regulatory Standards of Practice Stability in the Canadian Mortgage Market The Impact of Straw Buyers The State of Fraud in Canada Understanding Your Privacy Responsibilities When a Client Says Do Not Call PROFESSIONAL DEVELOPMENT (ELECTIVE) CATEGORY Accessible Ontario: AOD Act and Accessibility Standards for Customer Service Analyzing Commercial Real Estate Architectural Styles Brain Loading for Success TM Commercial Mortgage Financing Commercial Lending (Advanced) Commercial Roofing Environmental Site Assessments Essential Multicultural Communication Introduction to Creditor Insurance Introduction to Home Inspections Mastering Multiple Choice Exams TM Presentation Skills Time Management Understanding Financial Statements Writing Effective s New courses are added regularly, so we encourage you to visit the site often. 2

3 AMP COURSES Excellent course - it covered all areas adequately and in-depth where required. AMP DESIGNATION PROGRAM The Accredited Mortgage Professional (AMP) is Canada s only national designation for mortgage brokers, agents, submortgage brokers, associates and salespersons. Launched in 2004, the AMP designation was developed as part of CAAMP s ongoing commitment to elevating ethical and operational standards within Canada s mortgage industry. To qualify as an AMP, you must be licensed or registered as a mortgage broker, agent, submortgage broker, associate or salesperson, as appropriate in province(s) of operation. In cases where there is no licensing or education requirement, applicants must have completed an approved proficiency education course. In collaboration with the University of British Columbia, Sauder School of Business, CAAMP has developed optional courses designed to address the AMP Knowledge Domains required of AMPs. These courses also qualify for Continuing Education Units (CEU). AMP OPTIONAL COURSES RESIDENTIAL MORTGAGE UNDERWRITING FROM A LENDER S PERSPECTIVE This course provides a comprehensive overview of mortgage underwriting, with particular emphasis placed on the co-dependent (and, ideally, cooperative) relationship that exists between the mortgage originator and the mortgage lender throughout this crucial process. Candidates will review the goals, risks and regulations inherent to mortgage investment that influence lenders underwriting guidelines, before delving into the specific factors that determine the underwriting process and decision. Finally, candidates will review the measures lenders take to monitor their investments, as well as the broad array of policy decisions and legal remedies available to them when a borrower defaults on a mortgage loan. (3 CEU Professional Development) UNDERSTANDING SPECIALIZED MORTGAGES This course, divided into five sections, covers various financing considerations and alternatives for borrowers and properties of different types. Through discussion of types of repayment plans and non-conventional mortgage fund sources from private mortgages, mortgage professionals would be better equipped to advise on suitable products for their clients. Meanwhile, leasehold, construction, and commercial financing present specific challenges and issues based on the unique characteristics of the property and projects. An understanding of these specialized mortgages will allow mortgage professionals to serve a broader range of clients, or to specialize in specific sectors. (3 CEU Professional Development) UNDERSTANING REAL ESTATE TRANSACTIONS The purpose of this course is to help mortgage professionals better understand and navigate real estate transactions. The section on purchase and sale agreements covers key areas of contract law as they relate to real estate transactions, and also discusses what mortgage brokers can do to prevent fraud. The section on property valuation introduces the appraisal and market analysis process, and discusses the steps that should be taken by mortgage professionals when evaluating appraisal reports. The final two sections title registration and disbursements help mortgage professionals to understand the Canadian land title systems and the legal process of transacting in real estate. (3 CEU Professional Development) MORTGAGE PRACTICE STANDARDS Industry experts know that ethical decisions and client trust form the foundation for a profitable business over the long term. The Mortgage Practice Standards course introduces the fundamentals of ethical practice, helping you become aware of your own values and responsibilities while growing your business. Comprehensive materials and realistic scenarios have been designed to help you recognize the ethical dilemmas you may encounter in your role, challenging you to make the right decisions for you and your clients.this course provides a foundation for mortgage professionals in the following areas: 1 1

4 Ethical Practice in the Mortgage Industry Agency and Fiduciary Duty Mortgage Origination Standards Understanding Your Privacy Responsibilities Maintaining Lender Relationships The Mortgage Practice Standards program is valuable for anyone who wants to learn more about issues and practices in the mortgage industry. (4 CEU - Compulsory) REAL ESTATE AND MORTGAGE ECONOMICS AND INVESTMENTS This course provides a multi-faceted look at the major factors that should influence a client s real estaterelated decisions, ranging from an analysis of the real estate market as a whole to the current state of an individual s finances. Candidates will review the basic elements required to assess market conditions and anticipate their concrete impacts on clients, and will also consider how to assist borrowers construct effective budgets and engage in prudent financial planning. Finally, candidates will examine the diverse range of investment products that can be selected and tailored to best suit individual lenders unique needs and capabilities. (3 CEU Compulsory) THE REGULATORY AND COMPLAINCE ENVIRONMENT As mortgage brokerage activities and products become more diverse and greater public attention is placed on consumer protection and financial market oversight, there is a growing need for mortgage brokers to be aware of the regulatory environment in which they operate. This course starts with an overview of the legislative framework governing mortgage lenders, brokers, as well as consumer protection, and then looks specifically at how mortgage brokerages can ensure compliance with these requirements while managing their risks. Finally, the course looks at various common forms of mortgage-related fraud and how mortgage brokers should detect and handle these incidents in a compliant manner. STRATEGY AND BUSINESS MANAGEMENT This course, divided into three sections covering business strategy and planning, technology, and marketing, aims to equip mortgage brokers with an understanding of business fundamentals so that they can better plan, communicate, and deliver their services in a professional and effective manner in today s technologically driven and competitive market place. (3 CEU Professional Development) HUMAN RESOURCES MANAGEMENT The purpose of this course is to help mortgage professionals to better understand human resource management, and to familiarize them with the skills and knowledge necessary to develop and retain talented managers and employees. The first section of this course discusses the legal context of human resource management, with a particular emphasis on the provincial human rights codes with which mortgage brokers must comply. The second and third sections of the course focus on the critical thinking and leadership skills necessary to effectively conduct human resource operations. (3 CEU Professional Development) For complete requirements on how to become an AMP, visit the AMP tab at MANAGING BROKER COURSES CAAMP offers Mortgage Broker Education Programs in Ontario and Saskatchewan. These courses are for Mortgage Professionals: wanting to become licensed as a mortgage broker aspiring to become a Principal Broker specializing in mortgage compliance looking to explore career development opportunities or upgrade their qualificaitons 2 (3 CEU Compulsory) 2

5 The course provided excellent knowledge about the mortgage industry. The course delivery and instructor left a positive impression about CAAMP s commitment to the industry. ONTARIO MORTGAGE BROKER EDUCATION PROGRAM Under the Mortgage Brokerages, Lenders and Administrators Act, 2006 (MBLAA), both mortgage brokers and mortgage agents are required to meet education standards to qualify to be licensed in Ontario. CAAMP is the sole approved provider of the Ontario Mortgage Broker Education Program for the purposes of licensing in the province of Ontario. The Program includes all the Mortgage Broker Qualifying Standards (MBQS) as set out by the Financial Services Commission of Ontario (FSCO). Course Outline The Ontario Mortgage Broker Program consists of two course stages, and online course of study followed by an intensive in-class component. The Ontario Mortgage Broker Program will focus on: Implementing policies and procedures to ensure that agents comply with the Act and Regulations Supervisory skills Ethics Conflict of interest Best practices Course Delivery Methods Online Individuals may register and begin the online component of the Mortgage Broker Program at any time. The online course access is provided for a full 6-month period (24/7), allowing students to study at their own pace. This first stage will cover all 32 of the MBQS Learning Objectives so that students acquire the knowledge and skills necessary to supervise agents and carry out the responsibilities of a principal broker. Successful completion of the online stage (including assignments and examination) is a required prerequisite for registration into the in-class component. In-Class The second stage will consist of an intensive one-week in-class seminar that builds upon acquired knowledge and skills using practical examples (case scenarios, advertising samples, etc.). In this stage, students must interact and learn from others ideas and experiences. Course Fee Includes Online Instruction / Tutorial Enrolment into the Virtual Study Group Text and resource materials Exam sittings and supervision In-class instruction SASKATCHEWAN MORTGAGE BROKER EDUCATION PROGRAM This Saskatchewan Mortgage Broker Education Program is specifically designed to meet the needs of those wishing to become licensed as Mortgage Brokers under the Mortgage Brokers and Mortgage Administrators Act (MBMA) which governs the mortgage brokerage industry in Saskatchewan. The primary focus of the Program is to prepare mortgage brokers to serve as a Principal Broker of a mortgage brokerage. This is a critical role as the Principal Broker has ultimate accountability for ensuring that the conduct of the brokerage and all its brokers and associates is in compliance with the MBMA and its Regulations. This Program covers the Qualifying Standards for Mortgage Brokers (QSMB) designed by the Financial and Consumer Affairs Authority (FCAA) that focus on helping individuals attain the cognitive and behavioural skills required for senior supervisory responsibilities. Course Outline The Saskatchewan Mortgage Broker Program will focus on: Implementing policies and procedures to ensure that agents comply with the Act and Regulations Supervisory skills Ethics Conflict of interest Best practices Course Delivery Method Online The program is entirely online. Participation in the virtual study group and completion of an assignment are required. There is also a final in-person proctored examination. 3 3

6 4 Online Modules Focus is on building foundational knowledge and covers all QSMB Learning Objectives Students acquire the knowledge and skills necessary to supervise associates and undertake the responsibilities of a Principal Broker Facts, concepts, processes, procedures and principles are taught and tested throughout each module Quizzes, readings and participation in a virtual study group included Online assessment at the end of the program Students have six months from their date of registration to complete the program Successful completion of all components (including assignment and assessment) is required in order to be eligible to write the final examination. Virtual Study Group Focus is on discussing the foundational knowledge learned in a practical and realistic way Use of case scenarios demonstrate application of fundamental knowledge Students interact and learn from each others ideas and experiences Assignment(s) emphasis on practicing and refining broker-specific knowledge and skills Course Fee Includes Program access for six (6) months Access to Virtual Study Group for six (6) months E-textbook and reading materials Course materials including case studies, documentation, resource materials, etc Online assessment and coordination of an in-person final examination at a local test centre Upon successful completion of the program, you will receive a Certificate of Completion as well as completion status reporting to FCAA 4 INTRODUCTORY COURSES CAAMP offers introductory courses in Ontario, Manitoba, Saskatchewan, Nova Scotia and Newfoundland and Labrador. The following information applies to all five provinces. Course Outline Preface: Introduction to the Canadian Mortgage Industry Module 1: Overview of the Industry Module 2: Regulatory Framework Module 3: Legal Overview Module 4: Mortgage Mathematics Module 5: Understanding the Mortgage Process Module 6: Completing the Mortgage Application Module 7: Qualifying the Borrower Module 8: Mortgage Products, Related Products and Submitting the Application Module 9: Valuing Property and the Decision to Lend Module 10: The Closing Process Module 11: Protecting Consumers and Increasing Industry Professionalism Course Fee Includes Online Tutorial (Online format) Discussion Forum access (Online format) Mortgage Math workbook Textbook: Introduction to the Canadian Mortgage Industry Exam location, supervision and administration Certificate of Completion Shipping, taxes and handling Course Delivery Methods Online The online format includes a Discussion Forum allowing participants to post questions, connect with other self-study participants using discussion threads, communicate with the Forum Moderator, and access supplemental materials.

7 It was a pleasure taking this course! Thank you for this valuable training and opportunity! In-Class Classes are taught by skilled mortgage industry professionals who share their knowledge and practical approaches to course concepts and principles. ONTARIO CAAMP s Ontario Mortgage Agent Course is available for those looking to become a Mortgage Agent, or eventually a Mortgage Broker, in Ontario. The course is required by the Financial Services Commission of Ontario (FSCO) to be licensed under the Mortgage Brokerages, Lenders and Administrators Act. The course outline includes all the Mortgage Agent Qualifying Standards (MAQS) as required in the regulations. This course is offered online and in-class. MANITOBA The Manitoba Mortgage Salespersons Course is available for those looking to become a Mortgage Salesperson, or eventually an Authorized Official in Manitoba. This course is required by the Manitoba Securities Commission (MSC) Real Estate Division for Mortgage Salesperson registration under the Mortgage Brokers Act. This course is offered online. SASKATCHEWAN The Saskatchewan Mortgage Associate Course is available for those looking to apply for a Mortgage Associate license in Saskatchewan. The course has been approved by the Superintendent of Financial Institutions for the purposes of Mortgage Associate licensing under the Mortgage Brokerages and Mortgage Administrators Act. This course is offered online. NOVA SCOTIA The Nova Scotia Mortgage Broker Course contains information specific to the current Nova Scotia regulations and land registration system. Anyone wishing to become a mortgage broker in Nova Scotia is advised to complete this course which covers industry basics and legislative requirements for conducting mortgage brokering business in the province. This course is offered online. NEWFOundland and Labrador The Newfoundland and Labrador Mortgage Broker Course contains material specific to the current Newfoundland and Labrador regulations and land registration system. It also covers industry basics and legislative requirements for conducting mortgage brokering business in the province. The course is offered online. ALL PROVINCES The Fundamental Mortgage Principles program is designed to ensure mortgage industry knowledge and competency for Lender and Insurer designation applicants. Successful completion of the program, including any assessments contained therein, is accepted as the proficiency course requirement for CAAMP s Lender and Insurer Designations.The program is comprised of 15 individual modules, where each module aligns with a key issue that impacts the mortgage industry. The 15 modules in the Fundamental Mortgage Principles program concentrate on: Regulatory Compliance Fraud Avoidance Advertising and Marketing Standards Mortgage Origination 5 5

8 PRACTICAL BROKERING SERIES The Practical Brokering Series is a collection of online courses designed to develop the functional skills needed to become a successful mortgage professional. Courses are divided into three categories: 1) Business Management 2) Mortgage Process 3) Specialized Financing Analyzing the Credit Report This course will explain how to assess the credit score and other relevant sections of the credit report. You will understand what the underwriters are seeing, and be able to advise borrowers about how to rebuild their credit. Three sample credit bureau reports are provided so you can practice reviewing these documents for anything that would need to be explained to lenders. Assisting New Canadians This course will provide insights about homebuyers who are new to Canada and the mortgage options available to them. You will have specialized knowledge about the process of immigrating, as well as alternative sources of credit history, and insurer guidelines. Three scenarios provide practice determining whether the borrowers would be eligible and what documentation would be required. Assisting Self-Employed Borrowers This course will give you a better understanding of the unique challenges self-employed borrowers face. You will learn what financial statements self-employed borrowers can provide, and what they need to qualify for a mortgage. Sample financial statements are provided to practice analyzing the documents of a self-employed borrower. Closing the Transaction This course will help you understand the mortgage closing process and be able to prepare your borrower for the costs involved. You will feel more comfortable and confident reviewing commitment letters with your borrowers. Scenarios are provided to practice estimating closing costs. Completing the Application This course will take you through the process of establishing a relationship with your new borrower and completing a mortgage application form. You will feel more confident asking questions and be sure to collect all the necessary information. An activity is provided for you to practice asking questions and uncovering facts that may not be immediately obvious. Developing a Functional Business Plan This course will discuss business planning for you - the mortgage professional. This straightforward planning method will help you identify your own strengths, project your income requirements, and focus in on your target clients. You will be able to put tailored marketing strategies in place and monitor the success of your business over time. Distinguishing Lender Styles This course will introduce you to general categories of mortgage lenders in Canada, such as near-prime, nonconforming or private. You will be able to describe the differences between lenders and guide your borrowers to a lender type that will be suitable for them. Scenarios are provided which describe a borrower s situation and ask you to determine which type of lender would be most likely to approve their mortgage. 6 6

9 I am completely satisfied with the way the entire program was presented. Great Job! Establishing Financial Strategies This course will discuss mortgage strategies of interest to more financially sophisticated clients. Options such as The Smith Maneuver, self-directed RRSP mortgages and reverse mortgages are usually considered in conjunction with advice from a Certified Financial Planner (CFP). Your ability to answer questions about these options will build your reputation as a true mortgage expert. Exploring Non-Traditional Financing Options This course will help you understand the alternative lending market and how you can grow your business in this area. You will have in-depth knowledge about what these lenders are looking for and when you would submit to them. A complete mortgage application package is provided to practice analyzing the documentation for suitability for a non-conforming, sub-prime or private lender. Financing Construction Mortgages This course will explain the process and considerations for financing a construction mortgage. You will be able to navigate a deal that other mortgage professionals find complicated. The scenario provided will walk through each of the construction draws so you can see how the amounts are determined. Interpreting Real Estate Contracts and Appraisals This course will point out the importance of details such as dates and conditions on contracts and appraisals. You will be able to identify any sources of concern regarding the property or transaction before the documents reach a lender. Sample documents are provided to test your ability to identify potential issues. Investing in Rental and Recreational Properties This course will discuss lender considerations when financing rental and recreational properties, and second homes. You will be prepared when encountering unique features of these properties, such as leased land, fractional interests, water sources and septic systems. A realistic scenario is provided for you to evaluate the pros and cons when deciding how these kinds of deals could be structured. Preparing the Submission This course will help you assess your applications from the lender s perspective. You will be able to use the 5 Cs of Credit to underwrite your applications and submit them to the appropriate lender. Scenarios are provided for practice in choosing the right product and lender based on LTV, credit type, employment type and income type. Reviewing Supporting Documentation This course will review the supporting documentation you will need to submit to the lender. You will know what documents to request from the borrower, and how to review them to ensure complete and accurate submissions. Employment letter samples are provided so you can analyze them for authenticity and identify what other evidence will be needed. Understanding Basic Mortgage Products This course will discuss the differentiating features of a mortgage, such as whether it is a refinance, high-ratio, open term, portable, variable, etc. You will learn what each of these means for the borrower and be able to discuss options in an informed manner. Realistic borrower scenarios are provided so you can practice recommending the right mortgage type for the situation. 7 7

10 Understanding Specialized Mortgage Products This course will describe mortgage types that require more specific knowledge, such as cash-back, blanket and construction mortgages. You will be able to discuss these options with borrowers and ask lenders the right questions about their products. Realistic scenarios are provided so you can assess the borrowers situation and recommend options that will work for them. CONTINUING EDUCATION Continuing Education (CE) is essential for increasing efficiency and productivity to stay competitive. CAAMP CE offerings are designed to ensure mortgage professionals have the knowledge and capabilities for continued professional growth and business success. The Continuing Education section of Mortgage Campus contains a variety of courses designed to enhance or review your understanding of key industry areas. Courses fall into multiple categories, including Fraud Avoidance, Advertising Standards, and Regulatory Compliance. Many Continuing Education courses qualify for CE Units (CEU) towards the AMP s yearly Continuing Education requirement. AMPs are required to complete 12 CEU each year, four of which must be Compulsory CE. Useful as an introduction or as a refresher, CAAMP s Continuing Education provides you with detailed knowledge on a variety of pertinent industry topics. The AMP Optional Courses listed on Pages 1 and 2 also qualify for CEU. For complete requirements on how to become an AMP, visit the AMP tab at Compulsory Category CEU Anti-Money Laundering: A 360 Perspective Money laundering is the process of concealing the source of illegally obtained money, or attempting to make the money appear legal. It s an example of a type of fraud that furthers other criminal activities. Using presentation content and video from CAAMP s 2013 Mortgage Fraud Summit, this 30-minute online module will provide brokers with information on: how Fraud for Capital works challenges facing investigators specific cases how the fight against money laundering has developed over the years Content and video segments from an intelligence director, police services, and an asset recovery lawyer are included. Busting the Air Loan An Air Loan is the result of a mortgage being advanced on a property purporting to have a singlefamily home, but in reality may be a vacant lot or only partially built. With Air Loans, the homebuyer can often not be found the fraudster has disappeared with the mortgage funds. Most, if not all, of the paperwork has been forged or fabricated. Using presentation content and video from CAAMP s 2013 Mortgage Fraud Summit, this 30-minute online module will provide brokers with information on: the dangers for the various mortgage transaction parties how Air Loan frauds occur the best practices brokers can implement to avoid these frauds Content and video segments from a lender, a title insurer, and a property risk consultant are included. 8 8

11 The course instructor presented the material in a manner that was conducive to learning. He spoke to the key points in each module and supplied specific real life examples which made it easier to grasp and understand. Broker s Guide to Anti-Spam Legislation Canada has introduced legislation that regulates the sending of Commercial Electronic Messages. The law, known as Canada s Anti-Spam Law (CASL) went into effect on July 1, 2014 and applies if a computer system in Canada is used to send or access an electronic message. This online guide will walk you through the key elements of the CASL that will affect your brokerage business. It also provides you with suggestions and tools for compliance. This guide is presented in three sections: 1) Bill C-28: Canada s Anti-Spam Legislation 2) Anti-Spam and the Mortgage Broker 3) Ongoing Compliance Canadian Code of Advertising Standards This module discusses the Canadian Code of Advertising Standards, gender portrayal in advertising, how the code affects mortgage professionals, and CAAMP s Code of Ethics. Improving Broker Channel Success Broker share of the mortgage market is at its highest level in five years. The challenge to future growth, however, is that traditional lending sources continue to achieve a higher conversion ratio than the broker channel. Using data from the Maritz Mortgage Insights Report, this online course provides brokers with information on: factors that contributed to broker channel success ongoing challenges revealed by the research solutions for improving broker channel market share Introduction to Privacy Privacy has long been regarded as a basic human right in democratic societies. However, the explosion in the use of technology of the past few decades as resulted in a dramatic erosion of the individual s right to protect personal information. People are taking steps to protect their privacy. One of the ways in which they are able to achieve this is through privacy legislation. This six-part online program was developed to help Canadian businesses meet their obligations under the Protection of Personal Information and Documents Act (PIPEDA). The program provides an introduction to privacy definitions and concepts; an overview of the Act and its legal implications; a detailed examination of the AICPA/CICA Privacy Framework; a process for implementing an effective privacy program within an organization; and a procedure for developing a 5-step action plan. Introduction to Privacy includes a Glossary and a useful selection of privacy Resources. The program is followed by an online multiple choice exam. Lender Perspectives This module features video from CAAMP s Mortgage Fraud Summit, held October Hear from your peers as they share experiences in identifying and combating fraud. They will reveal scenarios they have uncovered, tools for enforcement and tactics they employ to detect and prevent fraudulent transactions. Practices for Fraud Prevention BC This online module has been approved by the BC Registrar of Mortgage Brokers (FICOM) as a component of mandatory continuing education for mortgage brokers in B.C. It is important for mortgage brokers to keep current with regulatory changes, legislative amendments, new compliance issues, risk reduction techniques, changes in industry best practices, and emerging issues affecting industry members and consumers. This approved online module focuses on the broker s role in identifying and preventing fraud. After completing this module, you should be able to: identify factors contributing to the increased estimated losses from mortgage fraud differentiate between the types of mortgage fraud identify the red flags that should trigger suspicions of possible fraud describe the responsibilities of mortgage/ submortgage brokers in preventing fraud describe best practices that can help avoid fraud 9 9

12 Preventing Mortgage Fraud This module features video from CAAMP s Mortgage Fraud Summit, held October It is now more important than ever for the mortgage industry to work together to combat fraud as industry members increasingly become the target of organized crime. The panellists describe fraud schemes that are directed at industry members as well as discuss new tools and procedures to prevent similar attacks in the future. Prosecuting Mortgage Fraud This module features video from CAAMP s Mortgage Fraud Summit, held October This panel of industry experts discuss the issues and processes for prosecuting mortgage fraud, misrepresentation issues and unique civil law proceedings in Quebec, and how best to proceed with prosecuting a case and maximizing recovery. The session also includes a discussion on the recent Shellee Spinks fraud case. Regulatory Standards of Practice Because mortgage brokerage regulations are a provincial responsibility, they vary from province to province. This means that the regulatory standards vary considerably across Canada. This module is designed to be a guideline to Regulatory Best Practices. It covers the regulatory issues addressed in the more comprehensive Acts and Regulations. Of course you must comply with the mortgage brokerage Act and Regulations in your province, but this course can be used as guideline to enable you to voluntarily meet the regulatory best practice when operating in the mortgage business. Stability in the Canadian Mortgage Market This module will provide you with an overview of the evolving state of the residential mortgage market in Canada. The information in this course is derived from the report prepared by CAAMP s Chief Economist, Will Dunning. The Impact of Straw Buyers A straw buyer is an individual who makes a purchase on behalf of another person, and who has no intention of either using or controlling the purchased item and gets paid for doing it. Organized crime uses straw buyers to purchase overvalued properties. Fraudsters abscond with the profits and leave the straw buyer responsible for the deficiency that will remain when the mortgage defaults. Using presentation content and video from CAAMP s 2013 Mortgage Fraud Summit, this 30-minute online module will provide brokers with information on: why straw buyers play an important role in fraud how this particular type of fraud works how lawyers are prosecuting cases Content and video segments from a mortgage default insurer, a lender, and a lawyer are included. The State of Fraud in Canada This module features video from CAAMP s Mortgage Fraud Summit, held October Hear from Inspector Kerry Petryshyn, Officer in Charge, Major Frauds and Bankruptcy, Commercial Crime Branch, RCMP as he delves into the state of fraud in Canada including the impact of fraud, reasons why victims don t always file a report, common misconceptions surrounding fraud and initiatives of the Canadian Anti-Fraud Centre. 10

13 The course was very informative and useful. All areas discussed will definitely be beneficial to me and my clients. I will be sure to recommend this course to my colleagues. Understanding your Privacy Responsibilities In this module you will learn the core principles of the privacy laws and your responsibilities to comply with them. You will also gain key strategies for avoiding a breach, and thereby protecting your brokerage from the costs associated with: recovering from the breach; legal penalties; and the bad publicity that your brokerage would attract in the event of a breach. When a Client Says Do Not Call This brief module will cover the basics of how the National Do Not Call List works, how it affects you as a mortgage professional who may contact potential clients, as well as how to deal with questions your clients or staff may have. Professional Development (ElECTIVE) Category CEU Accessible Ontario: AOD Act and Accessibility Standards for Customer Service The Accessibility Standards for Customer Service stipulates that if you are a provider of goods or services, and have one or more employee in Ontario, you are required to provide training for communicating effectively and respectively with customers with disabilities. The Accessibility Standard for Customer Service applies to all organizations in Ontario with one or more employees. Compliance is mandatory. While this course is designed in accordance with Ontario standards, the information presented is useful for all Canadian business owners. Analyzing Commercial Real Estate This course offers curriculum specifically designed for commercial real estate lenders and analysts. The course focuses on understanding commercial real estate borrowing needs and the risks of lending. It provides an underwriting framework and addresses property types, risks, key analytical indicators, appraisal evaluation and usage, along with common loan types. Architectural Styles This course provides a perspective on common architectural styles and elements and will reinforce your ability to recognize and describe a home s architectural features. While it s not necessary to identify house styles definitively, it is important for mortgage professionals to be able to recognize the elements that are typical of one architectural style or another. Depending on the area, some styles will dominate; some styles are seldom seen. The mortgage professional s credibility as a building expert will be enhanced by knowledge of local architecture. Inspection abilities will also be enhanced by understanding the vulnerabilities of various architectural styles. Brain Loading for Success This course involves an interactive learning process to develop learning skills and use a wide variety of learning strategies. By the end of the course you will understand what you need to learn and why the process works. You will also learn the specific 6Cs Learning Maximizer Skills, Strategies and Steps to build your learning intelligence. 11

14 Discover your primary learning style; build an expanded repertoire of learning skills and strategies; gain control over the volume and complexity of what you need to learn; demystify the learning process; maximize your learning capacity and learning capability as well as keep ahead of the competition. Commercial Mortgage Financing This course provides an introduction to the process of securing commercial mortgages and is offered in two Levels. Level I provides the introductory information: terminology, property types, transaction types and much more. Level II outlines the stages in the commercial mortgage process, from application through to closing. Level I and Level II are offered as a package at a reduced cost or can be purchased separately. The combined package is valued at 6 AMP Continuing Education Units. Commercial Lending (Advanced) This course offers a broad-based credit analysis curriculum for middle market lenders and analysts. It teaches financial, market, and management risk assessment methodologies, together with risk mitigation techniques. Additionally, the course assesses the participant s ability to work through a real business lending scenario through a practical simulation of the full application, analysis, and decision process. Commercial Roofing This course describes common types of commercial roofing and includes an explanation of key roofing facts and terminology. You will learn how to look at these systems and identify typical problems. It is important that people in the mortgage industry - particularly those working with commercial properties - are able to recognize the main elements that are typical of one roof style or another. Depending on the age and purpose of the commercial buildings in an area, some roofing techniques may dominate; there may be others that are seldom seen. The mortgage professional s credibility as a commercial financing expert will be enhanced by knowledge of commercial property roofing techniques and their challenges. Environmental Site Assessments This module reviews some of the typical environmental issues that may be of concern to lenders. You will learn what actually happens in a Phase I, II and III Environmental Site Assessment (ESA), and how each phase can impact a commercial deal. This module has been designed as a generic introduction to Environmental Site Assessments applicable to all of Canada. In some cases provincial standards have been highlighted, for example purposes only. Please consult with a local environmental specialist regarding specific requirements in your province. This course has been created in co-operation with Fisher Environmental Ltd. Essential Multicultural Communication What is multiculturalism? Multiculturalism involves the acceptance of all people, and allows for the diversities between cultures, races, colours, genders, sexual orientation, and physical or mental ability. It is the principle upon which the Canadian Charter of Rights and Freedoms is based. Multicultural communication involves dealing with the communication issues that arise from living and working within a diverse community. This module allows you to explore some of the key issues in multicultural communication, and then develop some skills that will help you to become a better communicator in a diverse, multicultural business environment. Introduction to Creditor Insurance This course discusses the mortgage professional s role in the mortgage creditor insurance application process, as well as legal duties that could apply in a lawsuit and best practices that can be implemented to prevent mortgage broker liability. This course has been created in co-operation with Benesure Canada Inc., program manager of Mortgage Protection Plan. 12

15 Very impressive in every facet. The instructors were highly competent, insightful and provided exceptional value. I m very grateful for the experience. Introduction to Home Inspections Introduction to Home Inspections examines common issues in older homes; some that are immediately significant and others which may pose problems in the future. The examples provided in this course represent real issues that were found in homes during inspections. This course will provide you with tips on how to identify problems, consider available solutions, and calculate the associated costs involved. This course is not intended to turn you into a home inspector. The intent is to give an overview of common issues which may not be apparent the first time you view a home, but could have a negative impact on the home s future value. Mastering Multiple Choice Exams The purpose of this course is to help you master writing multiple choice exams to achieve not only a passing grade but a grade you will be proud of. What would be the impact on you personally and professionally if you could achieve at least 10 to 15 marks higher on every exam you take? This course is for anyone who needs to learn how to pass exams and achieve high marks. Specifically, the course is for Exam Takers learn the top five exam skills and the accompanying exam strategies; for Exam Givers - professional associations offer this course to learn exam-taking skills and strategies and Corporate Learning Centres as part of new employee orientation and onboarding training. Presentation Skills One of the biggest fears for managers and others is speaking in public. You will receive worksheets and checklists to help you plan and present your remarks for the most impact, and you will learn how to deal with the anxiety that so often accompanies such assignments. The course includes tools and techniques to help you determine what the audience wants and needs, methods to gauge their needs, and a structure for organizing and formatting a good presentation. Time Management This course addresses the nuts and bolts of time management and includes tools for setting goals, keeping logs, and planning your time. It includes methods for identifying low pay-off activities and time-wasters, along with suggestions for getting rid of them. It provides tips for organizing your materials and your surroundings for more efficiency, and has other practical suggestions for taking control of your time and your life with simple, tried-and-true tools and techniques. Understanding Financial Statements Finance basics for non-financial managers. Financial statements provide valuable information that guide business decisions. It is therefore essential that business decision makers have a good understanding of financial statements and their role in guiding decisions. This module presents information about the fundamentals of reading and understanding financial statements. It shows how various work activities can and do affect the financial health of an organization, and introduces concepts, examples and knowledge that non-financially oriented decision makers should know. Writing Effective s Improve your ability to write effective . You will learn useful skills whether you are sending internal or composing s to send to clients or customers. The module has a test. With successful completion of the test, you will receive a Certificate of Completion. 13

16 TEXTBOOKS Introduction to the Canadian Mortgage Industry - Fourth Edition Introduction to the Canadian Mortgage Industry - First Quebec Edition - English Introduction to the Canadian Mortgage Industry - First Quebec Edition - French Ethical Practice in the Mortgage Industry Ethical Practice in the Mortgage Industry - French (textbooks are not available for individual sale) September 2013 Canadian Association of Accredited Mortgage Professionals All rights reserved 09/14 14

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