Certified Residential Underwriter (CRU)
The Certified Residential Underwriter (CRU) program has been developed by REIC with the leaders in residential mortgage underwriting in response to an expressed need in the marketplace. Professional certification allows lenders and insurers to quickly recognize and be assured of quality residential mortgage underwriting. CRU members, as with any REIC designated or accredited professional, are governed by the Institute's Code of Professional Standards.
The CRU designation is most relevant to candidates with backgrounds and experience in credit and property risk assessment who work in a residential mortgage underwriting environment (a bank, trust company or credit union). The program covers risk assessments and improved lending skills and practices. REIC 2340: Mortgage Lending for Residential Housing, a core course in the CRU curriculum, was developed by and is delivered in partnership with the Canada Mortgage and Housing Corporation (CMHC).
Interested in becoming a CRU?
Frequently Asked Questions:
- What information do I need to submit?
- How much does it cost?
- How many courses do I need to take?
- What experience do I need to have?
- How long does it take to obtain my designation?
- Register for a course
1. What information do I need to submit?
- Complete the application form; include all your references, non-refundable processing fee, and mail to REIC. Please be sure to include copies of any documents (e.g. university graduation, course records, transcripts) that will help to expedite your application.
- Your professional experience will be reviewed, your references contacted, and a chapter interview will be conducted (usually at your place of business).
- The Admissions Department will confirm your candidacy in writing.
2. How much does it cost?
The non-refundable processing fee is $250.00 plus GST/HST. Chapter dues are set individually, and some may charge GST/HST. Candidates and members are also required to pay the current annual national dues plus GST/HST. These fees are pro-rated from the time a candidacy is approved for the current year (January-December). Candidates pay a lower tuition fee than non-candidates for the courses. See the course schedule for details.
3. How many courses do I need to take?
Candidates must take courses in four areas: ethics, mortgage lending for residential housing, property risk assessment, and legal issues. Equivalent real estate or business law courses are offered through provincial real estate associations, universities, colleges and other organizations.
4. What experience do I need to have?
Please refer to the Application and Guidelines for detailed information.
|Candidate||One (1) year of creditable experience to apply for CRU candidacy.|
|Designated Member||Five (5) years of creditable experience to apply for the CRU designation.|
5. How long does it take to obtain my designation?
It depends on you and your timetable, and when and where the courses are being held. Approximately two to five years is the average time. The sooner you have your designation, the sooner you can market your expertise to your clients or employer as being part of a select group of professionals.
Ready to start?
Send us a message at firstname.lastname@example.org or call us at 416-695-9000 or toll free within Canada at 1-800-542-REIC (7342).