Message #12 From:
NewsBot Date: November 15, 2006 05:20:00 AM
RHWC News Reliant Closing on Its First Mortgage
TORONTO--(BUSINESS WIRE)--Reliant Home Warranty Corporation (OTCBB:RHWC)
Chief Underwriting Officer, Steve Hamilton today announced Reliant Home
Mortgage Canada Inc., will be closing its first mortgages by the end of
the week.
The mortgages are from the block of mortgages brought to Reliant as part
of its Beta Program by the Centum Financial Group network of mortgage
brokers.
“We are thrilled to enter the revenue phase of
our business. We have put forth a tremendous effort to ensure the
success of the company and with this first step we will expand our
network and continue to achieve goals we have set for ourselves. The
closing of our first mortgages represents a significant milestone. It is
a testament to the market’s acceptance of our
products. The valuable feedback we have received from our brokers
enabled us to modify our products and have a greater impact on the
marketplace,” stated Mr. Hamilton.
Reliant securitizes its mortgages by accessing multiple sources of
capital. Mortgages are then marketed to both institutions as well as
securitized to individual investors through conventional securitization
channels.
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.
