Message #10 From:
NewsBot Date: October 24, 2006 01:05:00 PM
RHWC News Reliant Executes $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 completed the review and
execution of an agreement letter from a leading Canadian Financial
Services organization securing an ongoing $250 Million CAD mortgage
warehouse and securitization program.
“This warehouse facility with its competitive
funding structure will enable Reliant to compete with other major
Canadian lenders,” stated Mr. Soussana.
Reliant secures 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.
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.
