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April 2006 National Archive

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Mortgage News & Press Releases - April 2006

  • GM Reaches Agreement to Sell Controlling Stake in GMAC
    DETROIT, Michigan, April 03, 2006 — General Motors Corp. (NYSE: GM) today announced it has entered into a definitive agreement to sell a 51-percent controlling interest in General Motors Acceptance Corp. (GMAC) to a consortium of investors led by Cerberus Capital Management, L.P., a private investment firm, and including Citigroup Inc., and Aozora Bank Ltd. GM expects to receive …
  • REALTORS® welcome Throne Speech
    OTTAWA, Ontario, April 04, 2006 — The Conservative government’s Speech from the Throne contained some good news for Canadian consumers and real estate markets across Canada, according to The Canadian Real Estate Association. One of the Conservative government’s five priorities outlined in the Throne Speech was their promise to reduce the Goods and Services Tax (GST) rate …
  • Assured Mortgage Services chooses MorWEB
    April 4, 2006 - Marlborough Stirling Canada (MSC) is pleased to announce that Assured Mortgage Services has selected MSC's MorWEB as its mortgage origination and customer management solution. MorWEB is a web-based solution that provides mortgage brokers the tools to manage all aspects of their origination activities, including capturing application details, running credit reports and submitting …
  • Starts Remain Strong in March
    OTTAWA, Ontario, April 10, 2006 — The seasonally adjusted annual rate 1 of housing starts was 252,300 units in March, up from 242,500 units in February, according to Canada Mortgage and Housing Corporation (CMHC). "Apartment starts surged in a number of centres in March," said Bob Dugan, Chief Economist at CMHC's Market Analysis Centre. "Despite the rise in multiple starts in March, …
  • New Centre Brings Hope to Nanaimo’s Homeless
    NANAIMO, British Columbia, April 11, 2006 — A new $4.2 million housing development aimed at helping Nanaimo’s homeless and families in crisis is officially underway following a celebration-of-construction ceremony held today with federal, provincial and local representatives. The Salvation Army New Hope Centre in Nanaimo is one of 12 transitional housing developments being built …
  • Marlborough Stirling Canada's parent ranks 22nd on 'Global Outsourcing 100'
    April 11, 2006 - Marlborough Stirling Canada is proud to share with its customers some exciting international news from its parent organization, Vertex. Vertex, a leading international provider of outsourced business services and technology solutions, has been ranked 22nd by the International Association of Outsourcing Professionals (IAOP) and now forms part of the ‘leaders …
  • The Personal Mortgage Group selects MorWEB for mortgage origination efficiency
    April 12, 2006 - Marlborough Stirling Canada (MSC) is pleased to announce that The Personal Mortgage Group has selected MSC’s MorWEB as its mortgage origination and customer management solution. Suzanne Boyce, Broker/President of The Personal Mortgage Group, says: "MorWEB lets us quickly and reliably capture applications, pull credit data and interact with lenders through an easy to use …
  • Interest Advantage Mortgage chooses MorWEB
    April 20, 2006 - Marlborough Stirling Canada (MSC) is pleased to announce that Interest Advantage Mortgage Ltd has become one of the latest brokerage firms to select MSC's MorWEB as its mortgage origination and customer management solution. Heather Wood, President of Interest Advantage Mortgage, says: "As an independent mortgage broker, I want to be in control of all aspects of my business. …
  • New Assisted Living Units for Richmond Seniors
    RICHMOND, British Columbia, April 20, 2006 — Federal, provincial and community funding partners, including the S.U.C.C.E.S.S. Multi-Level Care Society, celebrated the start of construction today of a new $15.5 million facility with 50 assisted living units. The new Austin Harris Assisted Living Residence will provide affordable housing and care for seniors who wish to maintain their …
  • Westbank Lions Opens 40 Assisted Living Units
    WESTBANK, British Columbia, April 21, 2006 — The official opening of Westbank Lions Manor, a new $6.5 million development that provides affordable apartments and support services for seniors, was announced today at a ceremony attended by federal, provincial and community funding partners. "Today's announcement demonstrates the Government of Canada's commitment to affordable housing, and …
  • Bank of Canada raises overnight rate target by 1/4 percentage point to 4 per ...
    OTTAWA, Ontario, April 25, 2006 — The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 4 per cent. The operating band for the overnight rate is correspondingly increased, and the Bank Rate is now 4 1/4 per cent. The global economy has been growing at a robust pace, exhibiting a little more momentum than had …
  • FSCO Takes Aim At Scams Through New Web Portal
    TORONTO, Ontario, April 25, 2006 — The Financial Services Commission of Ontario (FSCO) is taking more action tohelp consumers identify and protect themselves against scams. The new Beware of Potential
  • Experts Discuss Accessibility at London Forum
    LONDON, Ontario, April 26, 2006 — Accessibility and housing experts came together today at a forum in London to raise awareness of the need for accessible buildings and housing. Participants attending the Accessibility Forum learned about the role municipal governments play, as well as the accessibility design standards, building concepts, legislation, accessibility modifications and …
  • Interest Rates Head Upwards, Some Mortgage Holders Feel the Pinch
    At the beginning of September 2005, a competitive variable-rate mortgage could be obtained for 3.45 per cent. After today’s rate hike takes effect, the rate for a competitive variable mortgage will stand at 4.85 per cent. With a variable-rate mortgage of $150,000, payments were approx. $745 per month in September 2005, versus approx. $860 per month factoring in today’s Bank of …
  • Variable mortgage rates on the rise
    VANCOUVER, British Columbia, April 26, 2006 — Homeowners with variable mortgages will see their interest rates increase in response to aboost in the Bank of Canada's trendsetting overnight rate on Tuesday. BMO Bank of Montreal and Scotiabank both announced rate increases of 0.25 percentage points, raising their three-year open rate to 5.75 per cent after the Bank of Canada said it was …
  • Bank of Canada releases Monetary Policy Report
    OTTAWA, Ontario, April 27, 2006 — The Bank of Canada today released its April Monetary Policy Report (MPR), which discusses current economic and financial trends in the context of Canada's inflation-control strategy. The Canadian economy continues to grow at a solid pace, supported by robust global growth, firm commodity prices, and strong domestic demand. At the same time, global …
  • MorWEB mortgage origination system powers connect2mortgages Inc.
    April 27, 2006 - Marlborough Stirling Canada (MSC) is pleased to announce that connect2mortgages Inc. have selected MorWEB as their preferred system for mortgage origination and customer management. Nadine Evans of connect2mortgages Inc. says: "As a new brokerage for the golden horseshoe area, connect2mortgages Inc. are establishing partnerships with service providers such as MorWEB who are …


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