MortgageBrokers.com Signs New Revenue Licensing Agreement with Sergio Barboza and Associates Worth an Estimated CAD$50 Million in Mortgage Origination
BusinessWire - May 17, 2007 7:30 AM ET
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MortgageBrokers.com Holdings Inc. (OTC BB: MBKR) announced today that it has signed an exclusive revenue licensing agreement with veteran mortgage specialist, Sergio Barboza and Associates led by Mr. Sergio Barboza formerly of Royal Bank of Canada. Mr. Barboza and his team are expected to generate in excess of CAD$50 million in mortgage origination for 2007. This figure is based on the individual financial history of Mr. Barboza and the current financial trends affecting the markets in which they operate. Sergio Barboza and Associates will operate exclusively under the MortgageBrokers.com brand and share a percentage of their net profits with the Company.
This news follows a series of press releases from MortgageBrokers.com announcing the signing of revenue sharing agreements with numerous mortgage brokerages and individuals that will continue to generate revenue for the company.
Mr. Barboza will be servicing the Greater Toronto Area, the largest metropolitan city in Canada and will be participating in the RE/MAX co-location program. The strategic alliance partnership between MortgageBrokers.com and RE/MAX allows the company the opportunity to access up to an estimated CAD$32 billion in real estate sales transactions for 2007.
"Mr. Barboza is an important addition to our team, and this sends a definite alert to the industry that our business model and strategic alliance partnerships are strong incentives that attract quality mortgage brokers," said Alex Haditaghi Founder and CEO of MortgageBrokers.com.
"Leaving the confines of a large financial institution to join in the vision of MortgageBrokers.com was an easy decision," said Mr. Barboza, Business Partner. "Aligning yourself with a real estate brand like RE/MAX and to those closest to customer referrals is the future direction of the industry, I am pleased to be part of it," continued Mr. Barboza.
About MortgageBrokers.com
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.
Further information can be found at www.mortgagebrokers.com.
About RE/MAX
RE/MAX is Canada's leading real estate organization with CAD$32 billion in sales and over 15,600 sales associates in more than 610 independently-owned and operated offices. The RE/MAX franchise network, now in its 33rd year of consecutive growth, is a global real estate system operating in over 62 countries. More than 6,000 independently-owned offices engage over 114,000 member sales associates who lead the industry in professional designations, experience and production, while providing real estate services in residential, commercial, referral, relocation and asset management.
Cautionary Note Regarding Forward-Looking Statements
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
SOURCE: MortgageBrokers.com Holdings Inc.
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