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VERICO Financial Group Inc. announces preferred vendor relationship with Marlborough Stirling Canada

TORONTO, Ontario, April 01, 2008 — April 1, 2008 - Marlborough Stirling Canada is pleased to confirm that VERICO Financial Group Inc. has agreed to a preferred vendor relationship with respect to its mortgage application submission technology. Under this agreement, Marlborough Stirling Canada's MorWEB will be offered as an available option to all of VERICO's more than 1000 mortgage brokers across Canada.

"Marlborough Stirling Canada is recognized as a leading provider of business solutions to the financial services sector," says Colin Dreyer, CEO and President of VERICO Financial Group Inc. "At VERICO we understand the importance of technology to the broker owners in the VERICO Network and we want to equip our brokers with the tools that work best for them. Our role is to support our members' business decisions by ensuring each has access to the widest range of supplier alternatives."

Marlborough Stirling Canada President and CEO Bill Pitkin says: "use of MorWEB has continued to grow steadily and we are seeing increased interest from both brokers and lenders looking to get connected to the MorWEB network. We view this agreement with VERICO as a major step for us, providing a significant opportunity to prove to the market the capabilities of MorWEB on a much larger scale. We are very pleased to have been selected as one of the preferred technology suppliers in VERICO's continued growth across Canada."

MorWEB is Marlborough Stirling Canada's web-based residential mortgage origination technology, designed specifically to streamline communication and origination processes between mortgage brokers and lenders. MorWEB electronically connects mortgage brokers to lenders, credit bureaus, mortgage life insurance companies and other third-party providers to the mortgage industry. Using MorWEB, mortgage professionals can capture all relevant client data for the purposes of mortgage financing, including all personal and credit information, as well as all relevant information on the subject property. The mortgage professional can then model the application, pull credit information and recommend that the application be approved by submitting it to the lender of choice.

About VERICO VERICO Canada is a federally incorporated management company. The company has special expertise and knowledge in the financial services and mortgage brokering industries. VERICO Canada manages the VERICO Brokers Network and the VERICO Lenders Network. The VERICO Mortgage Brokers Network is a national network of independently owned and operated mortgage broker firms that meet the network's professional and business standards. The VERICO Brokers Network has grown to over 150 locations throughout Canada that employ over 1,000 agents who collectively originate in excess of seven billion in annualized mortgage loan volume.

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.morweb.ca

For inquiries related to this announcement, contact:

Colin Dreyer
Chief Executive Officer / President
Verico Financial Group Inc.
Suite 850 - 609 West Hastings Street
Vancouver, British Columbia V6B 4W4
Tel: 1-866-983-7426
Email: colin.dreyer@verico.ca

Bill Pitkin
President and CEO
Marlborough Stirling Canada
185 The West Mall, Suite 1020
Toronto, Ontario M9C 5L5

News source: Marlborough Stirling Canada

 

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