Abode Mortgage Corporation

Abode Mortgage Corporation

April 25, 2008 19:27 ET

Abode Mortgage Corporation Announces Updates to Strategic Plan in Current Capital Market Environment

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 25, 2008) - Abode Mortgage Corporation (TSX VENTURE:ABD), a residential mortgage lender, has made strategic changes to its business model to take advantage of more liquid capital market avenues given the current credit market conditions. AMC has initiated a series of strategic steps, documented by recent press releases, designed to achieve and maintain a growth-oriented mortgage securitization model.

AMC expanded into Ontario and now operates in the four western Provinces and Ontario. The addition of Ontario has resulted in a significant increase in mortgage application traffic. AMC now competes in markets representing approximately eighty percent of all mortgage volume in Canada.

AMC recently announced the appointment of Alistair Taylor as President adding valuable in-house legal expertise. This appointment facilitates contract processes which further support the company's securitization whole loan sale model.

AMC altered its original business model to include sourcing of insured mortgage assets through its recently renewed warehouse facility at Deutsche Bank AG. AMC has successfully completed whole loan sales on both an insured and uninsured basis to ensure ongoing funding capacity through warehouse facilities. AMC has expanded its product line to include prime 'A' mortgage offerings.

Michael J. Linehan, Chief Executive Officer states, "The capital market disruption commencing August 2007 required AMC to formulate a strategic response to gain liquidity and sustain successful future operations. In the present capital market environment the advantage of gaining liquidity via insured mortgage origination far outweighs the benefit to AMC of generating fee income from uninsured mortgage origination."

To learn more about AMC and its outlook please visit us at www.abodecorp.com.

About Abode Mortgage Holdings Corp.

Abode Mortgage Holdings Corp. is a publicly traded company on the TSX Venture Exchange under the symbol ABD, and through its wholly owned subsidiary, Abode Mortgage Corporation, provides residential mortgage financing to Canadians in the markets we serve. Headquartered in Vancouver, Abode Mortgage Corporation is delivering a new standard of service excellence to the Canadian residential mortgage industry by providing simplified products, consistent underwriting decisions, competitive pricing and compensation programs. The company launched its lending operations in Western Canada and recently expanded into the Province of Ontario.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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