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April 20, 2010 – Marlborough Stirling Canada (MSC) is pleased to announce that direct access to CommunityLend, Canada’s only online Peer-to-Peer lending service, will now be available to the broker market using MorWEB.
MorWEB brokers will now be able to seamlessly refer clients directly to CommunityLend to arrange unsecured loans from private investors. This will provide another value added service to customers of mortgage brokers using MorWEB. Phase one of this novel integration is now available on the MorWEB platform with a more comprehensive integration scheduled for later this year.
CommunityLend, which is pioneering the online lending market in Canada, launched earlier this year and is exploring a number of different marketing options to spread the word about its services and to recruit good quality borrowers looking for more competitive rates for small unsecured loans.
”We are excited by the opportunity to work with one of Canada’s leading software providers to the Mortgage industry,” noted Michael Garrity, CEO of CommunityLend. “We understand the important role of Mortgage Brokers in helping their clients to find the best rates on loans to meet their needs. We look forward to providing them direct access to our unique online lending platform directly from MorWEB on their client’s behalf.”
Tim Brown, General Manager for MorWEB, comments: “By providing the integration of MorWEB with CommunityLend, we are continuing to increase the tools available to brokers to service their clients beyond the mortgage transaction. It is exciting to work with Michael and his team in supporting the launch of the first Peer-to-Peer lending system in Canada.”
For more information about MorWEB, please contact:
Tim Brown
General Manager, MorWEB
Marlborough Stirling Canada
(T) +1 416 620-2694
(E) tim.brown@mscanada.com
For more information about CommunityLend, please contact:
Colin Henderson
CommunityLend
(E) colin@communitylend.com
About CommunityLend Inc.
CommunityLend Inc. (www.communitylend.com) is Canada’s only peer to peer lending service, a financial services innovation which allows borrowers to connect directly with private lenders through open online loan auctions. Called “game changing” by financial industry analysts, this new lending model permits direct investment by eligible investors in the personal lending market. CommunityLend Inc. is registered as a Portfolio Manager and an Exempt Market Dealer in the provinces of Ontario, British Columbia and Quebec and is a wholly owned subsidiary of CommunityLend Holdings Inc., a Canadian corporation based in Toronto, ON.
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). Marlborough Stirling Canada is a wholly owned subsidiary of Vertex (www.vertexgroup.com).
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