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

OTTAWA, Ontario, June 08, 2010 — 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.