News

    TORONTO, April 9 /CNW/ - The Equitable Trust Company, a leading
alternative lender since 1970 to the country's fastest-growing real estate
markets today, announced that it will expand its Single Family lending
business to the Province of Manitoba.
    "As part of our gradual expansion of our lending areas, Manitoba was
selected as an ideal market for Equitable to do business in," said Andrew
Moor, President and CEO, Equitable Trust. "We've done our homework and
Equitable Trust is excited by the opportunities Manitoba presents," he added.
    Equitable Trust's Western Regional Office located in Calgary will manage
and support the Manitoba market from the processing of all mortgage
applications, to credit underwriting and funding. Sales support will be
provided by Tim Wachter, Manager Business Development, Western Canada and
Stacey Gordon, Regional Business Manager, Alberta South for the Manitoba
brokerage community. Initially, the Company will lend in the City of Winnipeg
and then later further expand to other geographic locations within the
province.
    The Single-Family operation has a variety of strengths including a large,
highly-valued independent broker network, a disciplined approach to credit
evaluation and a focus on customer service which has allowed the Company to
grow profitably and efficiently for many years. These strengths have allowed
Equitable Trust to excel in an environment where many competitors have been
forced to withdraw from the market.
    "Our loan products provide financial solutions for borrowers who don't
qualify for a mortgage with a traditional "A" banking institution. These
borrowers may be new immigrants, self employed, or imperfect credit applicants
in general," said Caryn Markman, Vice President, Residential Mortgages. "We
take a larger view when evaluating an applicant's credit history to help them
achieve the dream of home ownership. In addition, Winnipeg is one of the
fastest growing populations driven largely by international immigration that
is encouraged through Manitoba's popular Provincial Nominee Program," she
added.
    The Winnipeg market will have access to a variety of Purchase and
Refinance lending products including conventional Fixed Mortgages and Variable
Mortgages, Interest Only Mortgages, and The Ultimate One, Two Mortgage as well
as the 1+1 Mortgage.

    About Equitable Group Inc.

    Equitable Group Inc. is a leading niche mortgage lender that focuses on
single family dwelling, multi-unit residential and commercial mortgage
financing in selected geographic territories in Canada. It conducts business
through its wholly-owned subsidiary, The Equitable Trust Company, which was
founded in 1970. Equitable is also a nationally-licensed deposit-taking
institution. Equitable's non-branch business model, valued relationships with
third-party mortgage professionals and deposit taking agents, and disciplined
lending practices have allowed the Company to grow profitably and efficiently
for many years. The common shares of Equitable Group Inc. are listed on the
Toronto Stock Exchange under the trading symbol of "ETC". For more
information, visit www.equitablegroupinc.com.