Reliant Home Warranty Corp. of Toronto, Canada, announced today underwriting approval to offer North America's first 50-year amortization program for non-prime high-ratio mortgages. Reliant also announced the amortization on a 5-year blended program (3 years interest-only and 2 years principal and interest) will be 53 years. Both products will be launched this spring, according to the announcement. "This innovative action by Reliant will allow mortgage customers the ability to make the most use of their hard-earned income and make housing more affordable to the consumer," stated Boyd Sousanna, President and CEO of Reliant, in a statement. Reliant continues to develop the most innovative loans in the marketplace and is the only mortgage lender who will offer a job loss ...
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