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Marlborough Stirling Canada receives CICA 5970 accreditation for 2007

TORONTO, Ontario, March 09, 2007 — Bill Pitkin, Marlborough Stirling Canada (MSC) President and CEO, is pleased to announce that MSC’s hosted mortgage services have successfully passed an annual CICA 5970 audit for the controls over its application service provision (ASP) operations and information technology infrastructure. The scope of this year's audit was expanded to include MSC's entire ASP offering, consisting of MorWEB (origination system for brokers and lender sales forces), Omiga (underwriting, fulfillment and funding), and Optimus (mortgage servicing).

The audit is undertaken annually by PricewaterhouseCoopers (PwC) to ensure compliance with the standards set out in the Canadian Institute of Chartered Accountants (CICA) handbook, section 5970 - Audit Reports on Controls at a Service Organization. Under the CICA 5970 audit, Marlborough Stirling Canada’s entire ASP operation, including MorWEB, Omiga and Optimus, was examined and compliance to each of the following was reviewed and reported on: administration and organization, software development, change management, security and operational controls.

Bill Pitkin comments: "Adherence to CICA 5970 standards is not only an OSFI requirement for outsourcing service providers, but is also something we commit to in writing through our service contract. This provides assurance to our clients that our services, and their assets and information, are appropriately safeguarded against error, loss or inadvertent disclosure, and provides them with an extra measure of confidence in our ASP operations."

Pitkin adds: "Because we play such a vital role in supporting the daily operations of our clients, the standards we employ are critical to ensuring that security, technical infrastructure and operational objectives are met at all times. I am pleased to see that even with the expanded scope of this year's audit once again we have achieved a clean report on the first pass. This is a testament to focus and dedication of our team to ensure quality in all that we do, and another point that sets us apart from our competitors."

About Marlborough Stirling Canada

Marlborough Stirling Canada (MSC) is a technology services provider to the Canadian mortgage industry. MSC offers a complete range of hosted and licensed software solutions capable of achieving seamless straight through processing of mortgage business from initial customer inquiry to final loan discharge. MSC's solutions include MorWEB (origination system for brokers and lender sales forces), Omiga (underwriting, fulfillment and funding), and Optimus (mortgage servicing). For more information see: www.mscanada.com

For inquiries related to this announcement, contact: Bill Pitkin
President and CEO
Marlborough Stirling Canada
(T) 416-620-2672
(E) bill.pitkin@mscanada.com

News source: Marlborough Stirling Canada

 

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