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3 Comments Mortgage Industry: The Evolution of Duplication

Article written by Boris Bozic on the 05 Jun 2013 in Mortgage

By the time this blog is posted the CAAMP/MBABC Spring Conference and Trade Show will have come and gone.  In a spirit of cooperation, and market feedback, CAAMP and MBABC have worked closely together in an effort to meet the growing demand of members to eliminate duplication.  Not an easy task given that both associations share common interests, serving their members, while still being able to meet their financial responsibilities for the services they provided for their respective members.  It’s a balancing act to say the least.  Kudos to both associations for taking steps to address the issue of duplication, and for at least trying.

The issue of industry duplication is interesting and nobody has a clear cut answer as to how we can most effectively eliminate it. There was time when the CAAMP Mortgage Forum, previously known as the CIMBL Conference, was the go to event.  It was a unique opportunity in which all stakeholders could meet under one rooftop; equal measure of education, networking and socializing.  For many years the conference held its rightful place as THE event. But like everything else today, things changed.  The first wave of duplication started when the provincial associations decided to emulate the CAAMP Mortgage Forum.  Not suggesting that’s right or wrong.  What I am suggesting that if you have a conference with speakers, trade show, a gala event, guess what?  It’s a duck!  Geography does not change the experience, the format and the overall quality does.  Another contributor to the wave of duplication was made by CAAMP itself. A mini-me version of the national conference, regional symposiums, is in part, well, an imitation of the national conference.  Quack-quack.  The most recent wave of duplication is individual firms are now hosting their own national conferences, albeit in far more exotic locations. To be absolutely clear, I am not passing judgment on the wisdom of individual firms hosting such conferences.  If it works for them, and their employees are happy, terrific.  But if the format is the same as the industries national conference, as well as the Provincial one’s, foie gras anyone? Last but not least is the recent foray into mortgage conference world by a privately owned publishing company.  Certainly their propagative but the fact is they’re contributing to the duplication, and just because it’s theirs does not make it any different or special.  Can’t think of another duck reference other than the decision to create yet another conference is Daffy, as in the duck of course.  So there we have it a bunch of ducks, and I’m not suggesting any one is better than the other – just a lot of the same in our industry.
So what do we do as an industry going forward as it relates to duplication of conferences, golf tournaments etc.?  Firstly, we have to be completely honest with ourselves.  Do we really care? Or is this issue something for the industry to just grumble about?  I ask because last time I checked sponsorships and tickets are still being sold for the multitude of conferences being held across the country.  Everyone seems to attend and participate begrudgingly, but they still participate and attend.  So if you’re an organizer of one these conferences what do you make of this? I suspect the duplication debate will carry on, and in time we will find out if it’s a real or a perceived issue for the industry.  One thing is for certain, the industry desperately needs some creativity.  Kudos to those who care and are giving an honest effort do things differently, we need more people like you in the industry.

Until next time,




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James Shinners @Twitter ID Website Reply

Perhaps it is time for CAAMP to get out of the Symposium/Trade Show business and spend it’s/our money on a more significant mortgage broker marketing campaign to bring more consumer awareness to our industry. Leave the Trade Shows to provincial associations who are able to address/focus on regional issues.

Great point Boris. I think personally, if i was looking for value for my time, i’d look to the source of the conference that
1) has the most experience in the field (to me I would suggest a publishing company would be absolute last)
2) Has the most bang for my buck (how much business value am I getting if most of the interaction involves drinking?)
3) Can I walk away saying i truly learned something?

While i think everyone’s answers are probably different, I would assume the general consensus would be obvious.

Geoff Willis @Twitter ID Website Reply

Boris, if you ever decide on another or additional career outside of the mortgage biz, please consider writing as I always enjoy your prose. In my view, we have an industry where many players are concerned about empire building and that is how we have come to the point of just more of the same, event-wise with different labels on them. This is really a microcosm of our industry in general and that is why there is little to no real collaboration to strengthen our business channel. This will only change if lenders say no to sponsorships and petty politics between associations are set aside and we all unite under a national association. Sounds like a pipe dream based on recent history but ultimately we must often do things wrong for a while to finally get it right.

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