Message #4 From:
NewsBot Date: August 2, 2006 05:46:00 AM
RHWC News Reliant's First Full Week of Operations Provides over $4 Million in Mortgage Applications
TORONTO--(BUSINESS WIRE)--Aug. 2, 2006--Reliant Home Warranty Corporation (OTCBB:RHWC) today announced that the first full week of operations for the company's Canadian subsidiary, Reliant Home Mortgage Canada Inc., yielded over $4 million CDN in mortgage applications being initiated by Reliant Mortgage Lending Partner member brokers. To date, over $1.65 million CDN in mortgages have been approved.
Reliant Home Warranty Corporation President & CEO Boyd Soussana stated, "We are pleased with our initial results and with the performance of our working partners. This initial roll-out involved only a fraction of our broker partners in the provinces of Ontario, Nova Scotia and New Brunswick. In the coming weeks, expanding operations will commence in the provinces of British Columbia, Saskatchewan and Alberta. Judging the response to our initial week of operations, we are very confident about our future."
About Reliant Home Warranty Corporation
Reliant Home Warranty Corporation (www.relianthwc.com) offers the sub-prime residential mortgage market High-Ratio to value mortgages that includes self-employed consumers and those with difficult credit.
About Reliant Home Mortgage Canada Inc.
For more information about Reliant Home Mortgage Canada Inc., visit the website at www.relianthomemortgage.com.
Forward-Looking Statement
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical facts may be forward-looking statements. Forward-looking statements are based on expectations, estimates and projections at the time the statements are made to involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. For a summary of such risks and uncertainties, see the Company's periodic reports and other filings with the Securities and Exchange Commission.
