New society to professionalise mortgages

The Charted Insurance Institute (CII) has announced the creation of the Society of Mortgage Professionals.

11:51 14 September 2004

The Charted Insurance Institute (CII) has announced the creation of the Society of Mortgage Professionals, as part of its ongoing drive to raise professional standards across the Financial Services Industry.

CII director general Dr Sandy Scott said: "Advisers have already clearly shown their desire to adopt the highest levels of professionalism through their positive response to meet the new regulatory requirements for formal qualifications.

"The Society of Mortgage Professionals will enable them to build on, and demonstrate, their commitment to the benefit of the consumer and to the reputation of the industry."

The society has been billed as a "centre of technical excellence and good practice", linking the CII's existing mortgage related examinations and the online competency tool mortgage ASSESS, with additional technical support through seminars, workshops and guidance notes.

As a result, practitioners in the mortgage market at all levels will have access to a programme of continuing professional development, standards of conduct that reflect good practice, online tools to achieve and demonstrate competence and events around the UK delivering training and learning support, the CII said.

The CII have recruited Richard Fox, currently compliance director at MCCB, to become the Society's chief executive and established an advisory board comprising leading market figures.

The society will also provide recognition of mortgage professionals through a set of designations, support individuals at all stages of their professional development, and provide a range of membership benefits including a quarterly newsletter, seminars, dedicated website and access to CII membership services including the online Information Services facility.