Message #6 From:
NewsBot Date: August 9, 2006 05:45:00 AM
RHWC News Reliant Mortgage Originations Continue to Increase
TORONTO--(BUSINESS WIRE)--Aug. 9, 2006--Reliant Home Warranty Corporation (OTCBB:RHWC) President & CEO Boyd Soussana announced today that Reliant, through its Canadian subsidiary Reliant Home Mortgage Canada Inc., had nearly $7 million CDN in mortgage applications initiated by Canadian mortgage brokers. To date, over $2.5 million CDN worth of mortgages have been approved.
"We have taken advantage of the traditionally slow summer months to finalize our transition to revenue generation and profitability. We are now in a position to excel during an active 3rd and 4th quarter. These quarters will see an increase in the number of brokers selling our products and loans per broker," stated Mr. Soussana.
Operations are slated to commence in the provinces of British Columbia, Saskatchewan and Alberta by September 1st.
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.
