Reliant Home Warranty Corp., Toronto, has announced underwriting approval to offer what it calls North America's first 50-year amortization program for nonprime high-ratio mortgages.Boyd Sousanna, president and chief executive officer of Reliant, said the new product "allows clients to choose a 50-year amortization schedule in five-year increments downward to tailor a mortgage to their needs." Reliant said it will sell its mortgages to institutional investors and securitize others through standard securitization conduits. The Canadian company can be found on the Web at http://www.relianthwc.com.
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