Real Estate Central

MortgageBrokers.com produces its best ever quarterly performance with
record revenue of $4.03 million, continues building profitability.
TORONTO, Aug. 15 /PRNewswire-FirstCall/ - MortgageBrokers.com Holdings,
Inc. (OTCBB: MBKR), one of North America’s fastest growing mortgage broker
brands and mortgage consolidation company, announced its record financial
results for the second quarter ended June 30th, 2008. For the 2008 second
quarter, Mortgagebrokers.com had revenue of $4.03 million, an increase of
72% compared to $2.34 million in the 2007 second quarter.

“The increase in our growth and profitability is the result of the
continuous addition of what we believe to be the finest and most
professional mortgage brokers in the business and the focused commitment to
the execution of our business plan,” said Alex Haditaghi, CEO and Chairman
of MortgageBrokers.com Holdings, Inc.

Some of the company’s financial performance highlights to-date
includes:



- The Company reported second quarter net income of $216,181, an
increase of 615% as compared to net income of $30,219 in the second
quarter of 2007;

- The Company’s number of registered licensed mortgage broker agents
increased to 403 as at June 30, 2008, a 47% increase over the number
of licensed agents as of June 30, 2007;

- The Company’s number of retail branch offices operated by its
mortgage broker agency network increased by 177% from that of
June 30, 2007;

- For the six months ended June 30th, Mortgagebrokers.com had revenue
of $6.43 million, an increase of 77% compared to $3.63 million in the
six months ended June 30th 2007;

- The Company had net income of $376,410 for the six months ended
June 30th 2008 as compared to a loss of $(718,881) for the six months
ended June 30th, 2007; and

- Cash flows from operating activities were $428,018 for the six months
ended June 30th, 2008 as compared to a negative cash flow from
operating activities of $(566,645) for the six months ended
June 30th, 2007.
Haditaghi believes that Mortgagebrokers.com has the right model at the
right time: “Our consolidation business plan is very attractive, especially
in environments such as we are in today, because we can provide small and
medium size broker’s access to strategic growth alliances as well as making
available a larger lender base. This allows the broker to offer more
competitive and suitable products to their customers, increase their brand
power and utilize an infrastructure which will allow them to reduce their
expenses by providing centralized back office services. As we have proven,
our business model continues to gain traction and we maintain our focus and
dedication to accomplish our overall objective of being North America’s
largest and most respected mortgage brokerage company.”

The Mortagebrokers.com business model is unique in that they are
operating in a Canadian economy and a mortgage/housing industry that has
mostly avoided the sub-prime woes of the US market. In addition, regardless
of the market that Mortagebrokers.com operates in, the Company strictly
acts only as a professional broker agent between buyer and seller for
residential and commercial mortgage transactions, thus eliminating any type
of credit, underwriting or inventory risk on the loans they originate. The
risk analysis and thus the burden, if any, are borne by the lending
institutions.

About Mortgagebrokers.com

Mortagebrokers.com is dedicated to re-branding over 40,000 small and
medium mortgage brokerage (SME) firms in North America while providing
these entities scalability through a centralized shared services platform.
MortgageBrokers.com is designed to facilitate continued ownership for these
SME brokers while they work under the umbrella of one globally recognized
brand. The Company provides centralized services in the areas of payroll
and accounting, compliance, marketing, technology, HR and lead generation
to afford its brokers improved access to potential customers through
strategic alliances and partnerships. MortgageBrokers.com also provides its
national team the opportunity to leverage origination with lending
institutions, establish higher referral fees from lenders, and give its
team members the ability to earn ownership in a publicly-traded entity with
the goal of an eventual career exit strategy.

Contact: Jody Janson 1.585.232.5440



Alex Haditaghi
CEO
Mortgagebrokers.com
(416) 410-4848
or
Jody Janson
iStockDaily, Inc.
585-232-5440
jody@istockdaily.com

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[Via Real Estate Newswire]