News
Equitable Trust announces expansion of Single Family lending business to Manitoba
TORONTO, April 9 /CNW/ - The Equitable Trust Company, a leading alternative lender since 1970 to the country's fastest-growing real estate markets today, announced that it will expand its Single Family lending business to the Province of Manitoba. "As part of our gradual expansion of our lending areas, Manitoba was selected as an ideal market for Equitable to do business in," said Andrew Moor, President and CEO, Equitable Trust. "We've done our homework and Equitable Trust is excited by the opportunities Manitoba presents," he added. Equitable Trust's Western Regional Office located in Calgary will manage and support the Manitoba market from the processing of all mortgage applications, to credit underwriting and funding. Sales support will be provided by Tim Wachter, Manager Business Development, Western Canada and Stacey Gordon, Regional Business Manager, Alberta South for the Manitoba brokerage community. Initially, the Company will lend in the City of Winnipeg and then later further expand to other geographic locations within the province. The Single-Family operation has a variety of strengths including a large, highly-valued independent broker network, a disciplined approach to credit evaluation and a focus on customer service which has allowed the Company to grow profitably and efficiently for many years. These strengths have allowed Equitable Trust to excel in an environment where many competitors have been forced to withdraw from the market. "Our loan products provide financial solutions for borrowers who don't qualify for a mortgage with a traditional "A" banking institution. These borrowers may be new immigrants, self employed, or imperfect credit applicants in general," said Caryn Markman, Vice President, Residential Mortgages. "We take a larger view when evaluating an applicant's credit history to help them achieve the dream of home ownership. In addition, Winnipeg is one of the fastest growing populations driven largely by international immigration that is encouraged through Manitoba's popular Provincial Nominee Program," she added. The Winnipeg market will have access to a variety of Purchase and Refinance lending products including conventional Fixed Mortgages and Variable Mortgages, Interest Only Mortgages, and The Ultimate One, Two Mortgage as well as the 1+1 Mortgage. About Equitable Group Inc. Equitable Group Inc. is a leading niche mortgage lender that focuses on single family dwelling, multi-unit residential and commercial mortgage financing in selected geographic territories in Canada. It conducts business through its wholly-owned subsidiary, The Equitable Trust Company, which was founded in 1970. Equitable is also a nationally-licensed deposit-taking institution. Equitable's non-branch business model, valued relationships with third-party mortgage professionals and deposit taking agents, and disciplined lending practices have allowed the Company to grow profitably and efficiently for many years. The common shares of Equitable Group Inc. are listed on the Toronto Stock Exchange under the trading symbol of "ETC". For more information, visit www.equitablegroupinc.com.
For further information:
For further information: Andrew Moor, President & Chief Executive Officer, (416) 513-3519