This is todays press release announcing the MorWEB /CommunityLend partnership.
MorWEB partners with CommunityLend Inc. to provide direct access to
unsecured lending options for the Canadian Mortgage Broker market
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:
General Manager, MorWEB
Marlborough Stirling Canada
(T) +1 416 620-2694
For more information about CommunityLend, please contact:
CommunityLend Inc. 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.
For more information visit: http://www.communitylend.com
MorWEB is Marlborough Stirling Canada’s web-based residential mortgage
origination technology, designed to streamline communication and origination
processes between mortgage brokers, lenders and mortgage sales agents.
MorWEB electronically connects mortgage brokers to lenders, credit bureaus
and other third-party providers to the mortgage industry. With features such
as electronic proposals and two-way messaging, brokers can receive
underwriter decisions and commitment letters online, and in real-time. From
approval to subject removal date, lenders and brokers can also manage
conditions without the need of fax machines and paper; anytime, anywhere via
Your Business, Your Choice
For more information visit: http://www.morweb.ca