Chair of events and VP on an eventful year to date – and what’s coming down the line
It’s been a productive year to date for the Canadian Mortgage Brokers Association – Ontario (CMBA-ON), with the organization gearing up for a busy slate of events in the coming months after a well-received itinerary in the opening half of 2024.
The association, which offers Ontario brokers a forum to work together, share resources, and develop solutions to industry and regulatory hurdles, recently hosted its first-ever summer social event, welcoming partners and their top brokers to Reid’s Distillery in Toronto in a show of appreciation for their continuing support.
Michelle Campbell (pictured top), chair of events and vice president at CMBA-ON, told Canadian Mortgage Professional the event had proven a big success. “It was our way of showing to a lot of partners who much we appreciate their partnership, and we wanted to showcase them and the contributions that they’ve made to CMBA,” she said.
“So alongside them, we happily welcomed some of their top brokers. We had about 200 people there – so the presence was a testament to the strong relationships that the CMBA has built.”
Mortgage pros set to hit the links at SummerFest in August
Hot on the heels of that event will come CMBA’s eagerly anticipated SummerFest on August 14-15, a networking and golf event to take place at the Legends on the Niagara course in Niagara Falls.
The welcome reception for that event, one of the industry’s premier golf outings, will take place at the Spyce Lounge on August 14 before the tournament the following day, which is also set to include a BBQ lunch, buffet dinner and prize giveaway.
Among the most highly awaited industry events of the year, the golf tournament sold out within days – but those who are still interested in attending can sign up for the waiting list in case of cancellations.
On the educational front, meanwhile, CMBA-ON is as busy as ever. The association’s West End Symposium takes place on October 10 at Kitchener’s Crowne Plaza Hotel, followed on November 13 by its Greater Toronto Area (GTA) Symposium at the Paramount Event Space.
That’s not to mention CMBA’s annual gala and conference in 2025, a two-day event that’s been pencilled in for March 26-27. This year, the well-attended event included more than 70 exhibitors at Vaughan’s Universal Event Space for the conference, with awards presented across a range of categories for the gala at the same venue.
Education remains key focus for CMBA-ON looking ahead
As always, education has been top of mind for CMBA-ON in 2024, not least with agents and brokers in Ontario set to face a range of new regulations and requirements in the months ahead.
Starting October 11, mortgage administrators, brokers and lenders will be required to incorporate measures against money laundering (anti-money laundering, or AML) and terrorist financing into their business practices including the establishment of a compliance program, reporting suspicious financial transactions, keeping records, and enhancing know your customer (KYC) adherence.
Those changes are intended to strengthen the ability of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) to protect Canadians and the economy against criminals operating through the financial system.
The Financial Services Regulatory Authority of Ontario (FSRA), meanwhile, has also recently finalized guidance for issuing licenses based on educational and technical qualifications, integrity, competence and conduct.
Crucial for CMBA in its approach to education in the coming months, Campbell said, is consistency. “There are a lot of changes coming down the pipe – the AML stuff and FINTAC,” she said. “CMBA is going to be holding a webinar and then we will have more sessions on the FINTRAC changes at our symposiums.
“I feel like it’s important for people to continually hear the message, just so [they] know how important it is. So just embrace the change, and be consistent with it.”
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