MISSISSAUGA, ONTARIO - (Marketwired - Feb. 13, 2014) - easyhome Ltd. (TSX:EH) ("easyhome" or the "Company"), the Canadian leader in providing goods and financial services to the cash and credit constrained consumer, today announced the establishment of its new mortgage brokerage business, easyMortgages.
easyMortgages is a licensed mortgage brokerage that will focus on assisting customers with less than perfect credit in obtaining the right mortgage for their situation. It will negotiate on behalf of its clients with multiple banks, mortgage companies and lenders to develop tailored mortgage solutions for its customers.
"easyMortgages is a key component of our strategy to expand the size and scope of our easyfinancial Services business," said David Ingram, easyhome's President & CEO. "While we have no plans to act as a mortgage lender, the mortgage brokerage business will allow us to further assist the underserved cash and credit constrained customer and leverage our easyfinancial customer base without a significant capital investment."
easyMortgages will launch in Ontario today and other provinces in the coming months. It will form part of easyfinancial and operate out of the Company's recently opened shared services contact centre in Hamilton, Ontario.
As at February 13, 2014, easyhome Ltd. operated 237 easyhome leasing stores (including 9 consolidated franchise locations and 55 other franchise locations) and 121 easyfinancial locations.
easyhome Ltd. is the Canadian leader in providing goods and financial services to the cash and credit constrained consumer. easyhome Ltd. serves its customers through two key operating divisions, easyhome Leasing and easyfinancial. easyhome Leasing is Canada's largest merchandise leasing Company, offering top quality, brand-name household furnishings, appliances and home electronic products to consumers under weekly or monthly leasing agreements through both corporate and franchise stores. easyfinancial is a leading provider of consumer loans as an alternative to traditional banks and payday lenders. Easyfinancial Mortgages Inc. operates as "easyMortgages" under broker license #12440.
easyhome Ltd. is listed on the TSX under the symbol 'EH'. For more information, visit www.easyhome.ca.
This news release includes forward-looking statements about easyhome Ltd., including its business operations, strategy and expected financial performance and condition. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as 'expects', 'anticipates', 'intends', 'plans', 'believes' or negative versions thereof and similar expressions. In addition, any statement that may be made concerning future financial performance (including revenue, earnings or growth rates), ongoing business strategies or prospects about future events is also a forward-looking statement. Forward-looking statements are based on certain factors and assumptions, including expected growth, results of operations and business prospects and are inherently subject to, among other things, risks, uncertainties and assumptions about our operations, economic factors and the industry generally. They are not guarantees of future performance, and actual events and results could differ materially from those expressed or implied by forward-looking statements made by us, due to, but not limited to important factors such as our ability to enter into new lease and/or financing agreements, collect on existing lease and/or financing agreements, open new locations on favourable terms, secure new franchised locations, purchase products which appeal to our customers at a competitive rate, cope with changes in legislation, react to uncertainties related to regulatory actions, raise capital under favourable terms, manage the impact of litigation (including shareholder litigation), control costs at all levels of the organization and maintain and enhance our system of internal controls. We caution that the foregoing list is not exhaustive. The reader is cautioned to consider these and other factors carefully and not place undue reliance on forward-looking statements, which may not be appropriate for other purposes. We are under no obligation (and expressly disclaim any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise, unless otherwise required by law.
President & Chief Executive Officer
Senior Vice President and Chief Financial Officer