TORONTO, March 20, 2006 (PRIMEZONE) -- Reliant Home Warranty Corp. (OTCBB:RHWC) is pleased to announce the appointment of Mpire Credit Corporation (Mpire) as a Reliant Mortgage Lending Partner (RMLP). Mpire commits itself to a $25 million (U.S. Dollars) sales target during the spring launch.
"Independent market analysis has shown there is a large and untapped market for Reliant's niche products. A significant component of the annual market growth rate in the U.S. mortgage market is attributed to similar specialized products. Our goal is to grow and provide world-class service and options to our lending partners. In achieving our goal we will keep client retention as the highest priority," stated Mr. Soussana, President of Reliant Home Warranty Corp.
Reliant expects to grow its many lending partner relationships each quarter enabling the company to achieve its own $750 Million (U.S. Dollars) revenue goal.
Mr. Soussana continued, "Reliant's specialized mortgage products with Mpire's mortgage brokerage network should catapult Mpire into one of the leading brokers in the Canadian urban sub-prime market and position Reliant as a mortgage industry leader. Clearly, we feel this agreement is an endorsement of Reliant's product suite and demonstrates an unprecedented level of market acceptance."
About Reliant Home Warranty Corp.
Reliant operates as a mortgage banking company in Canada/USA. Reliant originates finances, securitizes, services and sells non-prime mortgage loans secured by residential real estate backed by a re-insurance contract with Brit Insurance. Reliant will originate loans primarily through independent mortgage brokers and direct sales force. Reliant wholesale channel will originate non-prime mortgage loans through relationship.
About Mpire
Mpire Credit Corporation is a Canadian Mortgage Lender committed to providing high ratio mortgages. Mpire's Mortgage Brokerage network has access to over 1,200 Mortgage Brokers.
For more information on the Reliant programs visit the Web site at www.relianthwc.com.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical facts may be forward-looking statements. Forward-looking statements are based on expectations, estimates and projections at the time the statements are made to involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. For a summary of such risks and uncertainties, see the Company's periodic reports and other filings with the Securities and Exchange Commission.