June 29, 2006 — Spectrum-Canada is now accepting electronic mortgage applications on MorWEB, Marlborough Stirling Canada's growing network for mortgage professionals. MorWEB is a web-based system that provides mortgage brokers with all the tools necessary to manage their origination and customer management activities, including capturing customer and property details and electronically submitting mortgage applications directly into the selected lender.
Spectrum-Canada's underwriting centre is adding MorWEB to provide access to the increasing number of deals being originated through brokers using MorWEB as their preferred origination system. This will also benefit MorWEB brokers by providing another attractive product line that they can offer to potential borrowers, particularly with respect to non-conventional mortgages. Spectrum-Canada will use MorWEB to receive and review applications from the broker channel entirely online, greatly reducing the turnaround time and improving the communication between brokers and the lender at all stages in the origination process.
Carol Christopherson, President and CEO of Spectrum-Canada, says: "We have certainly been hearing from the broker community that we ought to make our products available on MorWEB, and have responded by enabling a first phase of MorWEB support to our Burnaby underwriting centre. In the longer term we will also be working with Marlborough Stirling Canada to link MorWEB directly in to our own back-end system for further efficiencies. All along we have been impressed with their professionalism, dedication and support, and we look forward to building on this relationship well into the future."
Stewart Eadie, Marlborough Stirling Canada's Vice President, ASP Accounts, adds: "This is another milestone in our effort to provide access to all lenders through the MorWEB network so that brokers have the appropriate options available to them to satisfy their clients. We are very pleased to welcome Spectrum-Canada to the expanding MorWEB network, and we are excited about growing our business as Spectrum-Canada grows theirs. Spectrum-Canada’s unique product line provides a terrific alternative for MorWEB brokers."
Spectrum-Canada is a Canadian financial intermediary formed to capitalize on the growing non-conventional residential mortgage market. Spectrum-Canada was established in October 2000 by Carol Christopherson and Derek Matthews. It is a privately owned company and operates through a centralized Contact Centre in Vancouver and a branch office in Toronto. For more information about Spectrum-Canada see: www.spectrum-canada.com
President & Chief Executive Officer
Tel: 604-684-3440 ext 108
For information about MorWEB and Marlborough Stirling Canada, see www.morweb.ca or contact one of our representatives listed below:
David P. Nichol
Vice President, ASP Accounts