The society has recruited Richard Fox, currently compliance director at the MCCB, to become its chief executive from November 1, when the it launches.
It says it will work alongside the Association of Mortgage Intemediaries, not in competition with it.
It is also in the process of establishing an advisory board of nine leading market figures. Although nothing has been confirmed in writing yet, Rob Clifford, managing director of mortgageforce, and Chris Cummings, director of the Association of Mortgage Intermediaries, are among those who have agreed verbally to be on the board.
The society will allow brokers of all levels to access 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.
It has been designed to be a centre of technical excellence and good practice for mortgage brokers, linking the CII's existing mortgage related examinations and the online competency tool mortgage Assess, with additional support through seminars, workshops and guidance notes.
Sandy Scott, director-general of the CII, says: “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.”