Message #8 From:
NewsBot Date: October 4, 2006 05:15:00 AM
RHWC News Reliant Receives $250 Million CAD Engagement Letter
TORONTO--(BUSINESS WIRE)--Reliant Home Warranty Corporation (OTCBB:RHWC)
President & CEO Boyd Soussana announced today Reliant, through its
Canadian subsidiary Reliant Home Mortgage Canada Inc., has received an
engagement letter from a Canadian Financial Services company, who will
assist us in securing an ongoing $250 Million CAD mortgage warehouse and
securitization commercial paper program.
“We see an obvious need for a warehouse line
of this magnitude as it reflects our expanding business and it enables
us to become a much more competitive player within the mortgage market.
The board will review this engagement to ensure it meets our
requirements prior to execution,” stated Mr.
Soussana.
Reliant securitizes its mortgages by accessing several separate sources
of capital. Mortgages are sold to institutional investors as well as
being securitized through the usual securitization conduits.
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 and 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.
