Abode Mortgage Corporation

Abode Mortgage Corporation

November 09, 2006 08:00 ET

Abode Mortgage Corporation Partners With Filogix to Connect With Canadian Mortgage Brokers

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 9, 2006) - Abode Mortgage Corporation (TSX VENTURE:ABD), a new national non-conforming mortgage lender launching in 2006, announced today that it has selected Filogix Limited Partnership, Canada's leading technology provider to the mortgage and real estate industries, as its mortgage underwriting and processing system partner. Headquartered in Vancouver, Abode Mortgage Corporation is set to deliver a new standard of service excellence to the Canadian non-conforming mortgage industry by providing simplified products, consistent underwriting decisions, uniformed pricing and competitive compensation programs.

"Filogix Expert and Filogix Express play very important roles in Abode's overall strategy to provide brokers service and benefits not offered through other non-traditional lenders in Canada," said Pamela Mulek, Chief Operating Officer, Abode Mortgage Corporation. "The efficient application process we can maintain between our underwriters and external originators through the integration of these two products will support one of Abode's major innovative service offerings - our commitment that mortgage brokers will receive a response to their mortgage application within 24 hours of it being submitted."

"Building co-operative and collaborative relationships with our national broker clients requires flexibility, specifically as it relates to product, process and fees," said Tami Lee Schmuck, President, Abode Mortgage Corporation. "Express's configurability to accommodate our approval procedures and guidelines is a major reason why we have chosen to build our business model around the Filogix systems."

Filogix Express is a browser-based mortgage processing technology built specifically for Canadian lending institutions. Filogix Express improves mortgage adjudication and processing productivity, reduces administrative costs, continuously updates portfolio and pipeline data and allows mortgage lenders to measure their performance in real-time.

"More and more lenders are building their business models around the integration available through Filogix Express and Filogix Expert," said Ed Karthaus, Filogix Executive Vice President, Sales, Marketing and Client Service. "Expert's growing acceptance within the broker community and the efficiency gains available through Express provide mortgage lenders a powerful competitive advantage in customer service and access to the growing broker market. We are delighted to be partnering with such a high caliber and experienced management team at Abode Mortgage Corporation to bring an enhanced level of service and a suite of innovative products to Canada's non-conforming mortgage market."

About Filogix Limited Partnership

Filogix Limited Partnership is Canada's leading technology provider to the mortgage and real estate industries. Filogix products and services are used by financial institutions, private lenders, mortgage brokers and real estate professionals to facilitate, organize, process and streamline transactions, making it a more cost-effective, organized and productive process. The Filogix network connects more than 12,500 Realtors®, 9,500 mortgage originators, 77 lender options including all major banks, credit bureaus, mortgage insurers, creditor insurance companies, document management servicing and countless business portals so they may interact and conduct business transactions.

Information about Filogix is available on the Internet at: www.filogix.com.

About Abode Mortgage Holdings Corp.

Abode Mortgage Holdings Corporation is a public company trading on the TSX Venture Exchange under the symbol ABD, and through its wholly owned Vancouver-based subsidiary, Abode Mortgage Corporation, provides mortgage services to the increasing number of Canadians who are unable to find mortgage financing through traditional sources.

Information about Abode Mortgage Corporation is available on the Internet at: www.abodecorp.com

Certain information in this news release respecting the Company and its trading date constitutes forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and the Company does not intend, and does not assume any obligation to, update these forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "strategy", "projects" or "projected", "target", "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "intends", "anticipates" or "does not anticipate", "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". Examples of forward-looking statements in this news release include, but are not limited to, statements regarding the Company's trading date on the TSX Venture Exchange. The Company has relied on a bulletin published by the TSX Venture Exchange for determining its listing date, and the Company has assumed the reliability and accuracy of that bulletin in making such forward-looking statement. We caution that forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Although the Company has attempted to take into account important factors that could cause actual costs or results to differ materially, there may be other factors that cause the timing of the Company's trading date or other results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

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

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