Wells Fargo Financial Corporation Canada and MortgageBrokers.com Inc. Form a Strategic Partnership
PR Newswire "US Press Releases "
ONTARIO, NY, May 14 /PRNewswire-FirstCall/ - Wells Fargo Financial Corporation Canada and MortgageBrokers.com Holdings Inc. (OTC BB: MBKR) said they entered into a strategic partnership alliance through which Wells Fargo Financial Canada will provide dedicated resources and exclusive financial products for MortgageBrokers.com to generate greater mortgage volumes for both companies.
"We view this new relationship as a win for both organizations and most importantly the customer," said Richard P. Valade, President, Wells Fargo Financial Canada. "The affiliation further develops our exposure in the market and supports our continued growth plan helping us secure our reputation as one of the premier providers of non-conforming mortgage solutions for Canadian consumers."
"This partnership will contribute towards increasing our mortgage volume at reduced origination cost as well as further expand our strategic position in the mortgage origination market, and we are excited to have Wells Fargo Financial, a market leader in alternate mortgage financing solutions, work with MortgageBrokers.com to provide these unique solutions," said Alex Haditaghi, Chairman and CEO of MortgageBrokers.com Holdings Inc.
Wells Fargo Financial Corporation Canada, headquartered in Mississauga, Ontario, is part of Wells Fargo & Company (NYSE: WFC), a $4.50 billion (Cdn) corporation and a leading national provider of financial products and services, including mortgage financing and personal loans to Canadian customers. It offers retail financing programs to national and local retailers through 165 stores in all ten provinces, a network of more than 3,400 merchants and 2,700 team members across Canada. More information about Wells Fargo Financial Corporation Canada is available at www.wellsfargofinancial.ca.
Wells Fargo & Company (NYSE: WFC) is a diversified financial services company with $486 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 6,000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest credit rating from both Moody's Investors Service, "Aaa," and Standard & Poor's Ratings Services, "AAA"
About MortgageBrokers.com
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MortgageBrokers.com is an online lead generator and mortgage brand specializing in the mortgage brokerage sector. The Company is dedicated to re-branding the over 40,000 small and medium mortgage broker (SME) firms in North America while providing these entities scalability through a centralized shared services platform. MortgageBrokers.com is designed to facilitate continued ownership for these SME brokers while they work under the umbrella of one globally recognized brand. The Company provides centralized services in the areas of payroll and accounting, compliance, marketing, technology, HR and lead generation to afford our brokers improved access to potential customers through strategic alliances and partnerships. MortgageBrokers.com also provides its national team the opportunity to leverage origination with lending institutions, establish higher referral fees from lenders, and give its team members the ability to earn ownership in a publicly-traded entity with the goal of an eventual career exit strategy.
Cautionary Note Regarding Forward-Looking Statements
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Statements included in this press release, which are not historical in nature, are intended to be, and are hereby identified as 'Forward-Looking Statements' for purposes of safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended. Forward-Looking Statements may be identified by words including 'anticipate,' 'await,' 'envision,' 'foresee,' 'aim at,' 'plans,' 'believe,' 'intends,' 'estimates,' 'expects' and 'projects' including without limitation, those relating to the company's future business prospects, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the Forward-Looking Statements. Readers are directed to the company's filings with the U.S. Securities and Exchange Commission for additional information and a presentation of the risks and uncertainties that may affect the company's business and results of operations. www.sec.gov.
For further information:
Cervelle Group
Investor Relations:
Rob Karbowsky
(407) 475-9966
info@thecervellegroup.com
Public Relations:
David Donlin
(407) 475-9966
info@thecervellegroup.com
SOURCE MortgageBrokers.com Inc.
