Paradigm announces a milestone achievement of $3 billion of mortgage assets under administration
TORONTO, ON – September 18, 2007 – Paradigm Quest Inc. (Paradigm), an exclusive provider of end to end mortgage underwriting and servicing for lenders and investors, announces that it has reached $3 billion in assets under administration.
Paradigm continues to set precedence in the Canadian mortgage market, growing assets under administration from less than $1.5 billion in its first year of operation to $3 billion in total assets under administration in its next 9 months of operation.
Kathy Gregory, CEO of Paradigm indicates, “While we are thrilled to have doubled our assets under administration, we are especially pleased with the quality of our mortgage portfolio and its performance. Ms. Gregory continues, “It is a confirmation that our industry leading underwriting practices coupled with our strong credit and customer servicing teams are responsible for achieving this tremendous result.”
In addition to the depth of experience and support of the Paradigm senior leadership team and their employees, the achievement was made possible through the company’s top tier wholesalers and its partnership with its first lender MERIX Financial Inc. (MERIX).
Boris Bozic, President & CEO of MERIX states, “Paradigm is a partner who identifies with our market and is innovative in its business approach. They understand the importance of building relationships with originators, and are thriving because of that.”
Paradigm intends to build on this momentum going forward. Gregory states, “We are very proud of this success and feel it is a testament to the dedication demonstrated by our employees to make this happen.” The company’s growth strategy includes a number of key initiatives that focus on product development and expansion to place Paradigm at the forefront of the mortgage industry.
About Paradigm Quest Inc.
Launched in 2005, Paradigm Quest Inc.,www.paradigmquest.com
, is a leading Canadian mortgage underwriting and servicing company that enables both incumbents and new lenders to focus on their core competencies. In less than two years of operation the company has accumulated $3 billion in assets under administration.
Operating with state-of-the-art technology and extensive knowledge of the Canadian mortgage market, Paradigm offers a customizable platform from which multiple lenders can source business through various origination channels.