TORONTO, ONTARIO--(Marketwire - 02/02/11) - Alex Haditaghi, CEO of myNext Mortgage Company, is pleased to announce the launch of myNext Commercial Mortgages Inc., a new division of myNext that will be headed by Tony Hili, Senior Vice President & Managing Director. The new company will arrange industrial, commercial and investment real estate (ICI) financing for a variety of properties across Canada.Tony Hili has extensive experience in commercial real estate, valuation, business finance, and credit risk. He has held numerous senior management positions over the last 20 years, including Principal & Managing Director at Phyl-Ton Financial Corporation, Vice-President & General Manager at PHH Corporation, Vice-President Mortgages & Construction Lending at General Trust Corporation (Laurentian Bank of Canada), and was retained by several financial institutions as a Financial Advisor and Real Estate Consultant.myNext Commercial will develop business through the Mortgage Architects and MortgageBrokers.com broker networks and through direct business development. "There is huge potential to build this new company given the need in the marketplace and the distribution available through myNext's national network of brokers," said Hili. "We're thrilled to attract someone of Tony's calibre. I've known him for over thirty years; he'll be a tremendous asset to myNext," said Lorraine Sato, VP Underwriting for myNext.Type of financing will include:
-- mortgages on commercial retail, office, hotel, industrial, self storage,
nursing homes, retirement residences, builders inventory, multi-
residential rental apartments, condominium and town home projects;
-- interim construction financing, including land acquisition, servicing
and construction facilities on similar properties;
-- real estate joint venture projects, helping subdivision home builders
with project partners and financing facilities; and,
-- commercial banking; operating lines of credit and term loan facilities
secured by business and real estate holdings.
Loan amounts will be $1 million minimum to $100 million plus. Funding will be arranged through conventional and non conventional lenders subject to their lending criteria. Antoniette Doria, a licensed mortgage broker, will work with Hili as an Account Manager."We're very excited about offering this added-value service to our broker networks across Canada," said Haditaghi. "There is tremendous opportunity for an experienced individual like Tony Hili to build a strong commercial business for myNext."ABOUT MYNEXT MORTGAGEmyNext Mortgage Company is a next-generation residential mortgage lender. Built by some of the most experienced professionals in the industry, myNext is focused on delivering products that meet the diverse and changing needs of Canadians, and is dedicated to customer service and satisfaction. Mortgage products are distributed through Mortgage Architects Inc. and MortgageBrokers.com. myNext is an approved lender with the largest Canadian mortgage insurer - Canada Mortgage and Housing Corporation (CMHC) and other private insurers. www.mynext.com.