Canadian Mortgage News

March 2006 National Archive

Mortgage News & Press Releases - March 2006

• Local Experts Share Ideas for Affordable Housing Development
  WINDSOR, Ontario, March 3, 2006 — Local housing experts exchanged ideas and best practices today at an all-day forum to stimulate the continuous development of affordable housing in Windsor and Essex County.
  
• Bank of Canada raises overnight rate target by 1/4 percentage point to 3 3/4 per cent
  OTTAWA, Ontario, March 7, 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 3 3/4 per cent. The operating band for the overnight rate is correspondingly increased, and the Bank Rate is now 4 per cent.
  
• Starts Continue at Strong Pace in February
  OTTAWA, Ontario, March 8, 2006 — The seasonally adjusted annual rate1 of housing starts was 240,900 units in February, down from 248,100 units in January, according to Canada Mortgage and Housing Corporation (CMHC).
  
• Marlborough Stirling Canada receives CICA 5970 accreditation from Price Waterhouse Coopers
  March 9, 2006 — Bill Pitkin, Marlborough Stirling Canada (MSC) President and CEO, is pleased to announce that MSC’s hosted mortgage services have successfully passed, on first review, a CICA 5970 audit for the controls over its application service provision (ASP) operations and information technology infrastructure.
  
• SGH Mortgages Inc. moves onto MorWEB
  March 14, 2006 - Marlborough Stirling Canada (MSC) is pleased to announce that SGH Mortgages Inc. has selected MSC's MorWEB as its mortgage origination and customer management solution. MorWEB provides mortgage brokers the tools to manage all aspects of their origination activities, including capturing application details, running credit reports and submitting applications to selected lenders. …
  
• Greenwood Estates and Mortgage Company chooses MorWEB for origination efficiencies
  March 21, 2006 - Marlborough Stirling Canada (MSC) is pleased to announce that Greenwood Estates and Mortgage Company have selected MSC's MorWEB as its mortgage origination and customer management solution.
  
• 42% of Canadian mortgage holders still happy with their rates despite recent increases
  TORONTO, Ontario, March 28, 2006 — A majority of Canadians believe their current mortgage interest rates are manageable, despite recent hikes, according to a report released today by the Canadian Institute for Mortgage Brokers and Lenders (CIMBL). The information, gathered by Pollara in a phone survey in February and analyzed in conjunction with Canadian housing analyst and CIMBL economist …
  
• GMAC-RFoC selects Marlborough Stirling Canada's Omiga mortgage underwriting solution
  March 28, 2006 - Marlborough Stirling Canada, a leading provider of mortgage origination, underwriting and administration technology services to the Canadian financial services industry, today announced that GMAC Residential Funding of Canada (GMAC-RFoC) have signed a multi-year agreement to implement the Omiga mortgage underwriting, fulfillment and funding …
  
• 8 New Affordable Housing Units for Saint-Leonard
  SAINT-LEONARD, Québec, March 30, 2006 — The Government of Canada and the Province of New Brunswick announced today a contribution of $520,000 for Foyer Notre Dame de Saint-Léonard Inc, a new eight unit affordable housing project for seniors. Located on 604, Principale Street, Foyer Notre Dame de Saint-Léonard is the 25th project to be announced for funding under the …
  
• Victoria Seniors' Housing Health Complex Opens
  VICTORIA, British Columbia, March 30, 2006 — The Hillside Terrace and the Hillside Seniors' Health Centre, a new $15.08 million seniors' housing health complex, opened today in Victoria. This new housing complex will provide seniors with affordable housing, health care services and a caregiver respite hotel, under one roof.
  
• Alan Tennant, FRI is CREA’s 59th President
  OTTAWA, Ontario, March 30, 2006 — The 59th President of The Canadian Real Estate Association (CREA), Alan Tennant, FRI of Airdrie, Alberta, says he is passionate about real estate, and proud to be the one selected to represent 83,000 REALTORS® in Canada.“I am proud to be part of a profession that celebrates innovation and creativity. It’s exciting to be part of a …