Canadian Mortgage News

April 2006 National Archive

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 rate1 of housing starts was 252,300 units in March, up from 242,500 units in February, according to Canada Mortgage and Housing Corporation (CMHC).
  
• 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.
  
• 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.
  
• 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.
  
• 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.
  
• 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.
  
• 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.
  
• Bank of Canada raises overnight rate target by 1/4 percentage point to 4 per cent
  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 been …
  
• 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.
  
• 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.
  
• Interest Rates Head Upwards, Some Mortgage Holders Feel the Pinch
  However, it’s not all doom and gloom for mortgage seekers.
  
• 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.