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Press Release & News
FOR IMMEDIATE RELEASE
Abode Mortgage Corporation Announces Completing a Whole Loan Sale
Vancouver, BC - August 9th, 2007 – Abode Mortgage Corporation (TSXV: ABD) is pleased to report that it has sold a group of loans with a book value of $42.8 Million to a special purpose vehicle on August 8th, 2007.
“With the successful completion of the sale the Company is now fully positioned to originate, underwrite, and sell our loan portfolios as we accumulate them” said Chief Executive Officer Mike Linehan. “This sale program closes the loop on our business process and allows the expansion of the origination program moving forward.”
About Abode Mortgage Holdings Corp.
Abode Mortgage Holdings Corp. is a public company trading on the TSX Venture Exchange under the symbol ABD, and through its wholly owned subsidiary, Abode Mortgage Corporation, provides mortgage services to the increasing number of Canadians who are unable to find mortgage financing through traditional sources.
Headquartered in Vancouver, Abode Mortgage Corporation is delivering a new standard of service excellence to the Canadian non-conforming residential mortgage industry by providing
simplified products, consistent underwriting decisions, uniformed pricing and competitive compensation programs. The Company launched its lending operations in February, 2007.
Information about Abode Mortgage Corporation is available on the Internet at: www.abodecorp.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information, contact:
Mike J. Linehan
CEO
Abode Mortgage Holdings Corp.
Phone: 604.642.2633
Email: ir@abodecorp.com
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