TORONTO, June 14, 2012 /CNW/ - Equitable Trust, the wholly owned
subsidiary of Equitable Group Inc. (TSX: ETC and ETC.PR.A) and one of Canada's leading alternative mortgage lenders, today
announced it is bringing its single family lending solutions to the
Greater Halifax Area.
Equitable Trust intends to become an important alternative source of
single-family residential mortgages for the Area by actively serving
the community's mortgage brokers and their clients including:
first-time home buyers, business for-self-borrowers, investors,
newcomers and those with credit challenges, with a suite of fixed-rate,
adjustable, fully open and high ratio mortgage products.
"Equitable has served borrowers in other parts of the country for more
than 40 years and now it's time to bring our specialized mortgage
solutions to Atlantic Canada," said Andrew Moor, Equitable's President
and CEO. "The reason to start now is clear: The Greater Halifax Area
has enormous development potential. Not only is it an economic
powerhouse today, it has the business, government and social assets
that will drive the success of the entire province in the years ahead.
We are delighted to make a long-term commitment to serving mortgage
brokers and their borrowing clients in this important region."
Statistics show that the Greater Halifax Area has a vibrant mortgage
broker community, an attractive mix of single family property types, a
relatively young population, and a solid ratio of salaried to
self-employed workers. The region enjoys a diversified and growing
economy with strength in resources, manufacturing, tourism, healthcare
and education that provides a solid formula for a strong community and
sustainable real estate values.
"All of these factors make the Greater Halifax Area Equitable's
preferred choice for eastern expansion," said Mr. Moor, "and with our
opening in Halifax, we achieve the important goal of lending from
In Nova Scotia, the Company intends to grow with focus on specific
communities in and around Halifax and Dartmouth, including Cole
Harbour, Fall River, Hammonds Plains, Lower Sackville, Middle
Sackville, Eastern Passage, Bedford, Waverly, and Timberlea. It will
also support the advancement of mortgage brokers in the region by
sponsoring professional accreditation and educational programs and
promoting the recently created Mortgage Brokers Association of Atlantic
"Nova Scotia's mortgage brokers have been very vocal in expressing their
interest in having an alternative mortgage lending choice for their
customers," said Kim Kukulowicz, Vice President of Residential Sales
and Partner Relations, "and we are proud to provide it. Relative to
many communities in Canada, the Greater Halifax Area is underserviced
by single family mortgage lenders. Over the long term, Equitable can be
an important conduit for home ownership, especially for business
for-self-borrowers and recently arrived residents."
Equitable's Single Family Lending Services business funds first
mortgages for owner-occupied and investment properties with up to four
units, including detached or semi-detached houses, townhouses and
condominiums. By taking the time to understand each borrower's unique
credit profile, Equitable creates tailored solutions that enable home
ownership for those that do not qualify for credit with Canada's big
With mortgage assets of more than $10 billion, Equitable's proven track
record is built on an intimate understanding of local demographic and
real estate trends in each city it serves, disciplined lending
strategies, a non-branch business model and industry-leading customer
service. By meeting the needs of independent mortgage brokers who
originate business and finding flexible solutions that appeal to
borrowers, Equitable has experienced highly profitable growth for many
VISIT EQUITABLE AT CAAMP
Equitable Trust is active supporter of the Canadian Association of
Accredited Mortgage Professionals (CAAMP) and is participating in
CAAMP's Atlantic Regional Symposium taking place in Halifax on Monday,
June 18, 2012 at the World Trade and Convention Centre, 1800 Argyle
Street, Halifax. As part of the Company's commitment to the
professional development of the mortgage broker industry in Atlantic
Canada, Equitable is hosting a seminar at the Symposium entitled
Anti-Money Laundering and Anti-Terrorist Financing, The New Norm.
ABOUT EQUITABLE GROUP INC.
Equitable Group Inc. is a niche mortgage lender. Our primary business is
first charge mortgage financing, which we offer through our wholly
owned subsidiary, The Equitable Trust Company. Founded in 1970,
Equitable Trust is a federally incorporated trust company. It serves
single family, small and large commercial borrowers and their mortgage
advisors. It also serves the investing public as a provider of insured
Guaranteed Investment Certificates. Equitable Trust is active in
providing GICs across all Canadian provinces and territories. It
actively originates mortgages across Canada, with offices in Ontario,
Alberta, Quebec and now Halifax. Equitable Group's shares are traded on
the Toronto Stock Exchange under the symbols ETC and ETC.PR.A
respectively. Visit the Company on line at www.equitabletrust.com.
SOURCE Equitable Group Inc.
For further information:
Director of Marketing & Communications