CAFBA has established special working relationships with a large number of principal lenders, many of whom are Affiliate Members of CAFBA. A by-product of this is that most lenders strongly encourage any of their accredited brokers that do not already join, to seek to become CAFBA members. Some may go so far as to make it a prerequisite for new financier accreditations.

One area that CAFBA wishes to improve upon, as a project for 2006, are practices pertaining to broker / lender accreditation agreements in the marketplace. Currently, some lenders require written accreditation agreements and others not. When accreditation agreements are supplied by lenders, they vary greatly from one institution to the next with onerous or irrelevant clauses at times placing uncommercial conditions and burdens on our membership.

Solution:  CAFBA have written a "model" broker-lender agreement that has been constructed seeking to be a fair unbiased representation of the expectations and obligations of each to each other. This document has been reviewed by solicitors acting for CAFBA It therefore becomes incumbent upon CAFBA members, when dealing with any financier accreditation agreements, to seek to use the model document as the suggested template basis of documentation between the parties, or for the broker to get as many as possible of the principles in-bodied in that document to become changes to any financier supplied accreditation agreement document.