MortgageBrokers.com Reports Record First Quarter with 245% Increase in Revenue Over Q1 2006

NEW YORK and TORONTO, May 22 /PRNewswire-FirstCall/ -- MortgageBrokers.com Holdings, Inc. (OTCBB: MBKR), one of North America's fastest growing new mortgage broker brands and Mortgage consolidation companies, announced its financial results for the first quarter 2007. The company recorded gross revenues of $1,189,252.00 for the first quarter of 2007 which is an increase of 245% over last year's first quarter revenues.

"This increase in our growth is the result of the concerted efforts and early successes of our new management team, our growing back office operational team, and our growing national network of mortgage broker agents, all of whom are shareholders responsible for building this company," said Alex Haditaghi, CEO and Chairman of MortgageBrokers.com Holdings, Inc. "We believe we are well on track to realizing our goal of being a profitable company having a dominant position in this fragmented North American mortgage market," continued Mr. Haditaghi.

Some of the company's financial performance highlights to-date includes: - Company's First Quarter revenues were an increase of 245% over First quarter of 2006. - Gross revenue in the reporting period, which is considered the lowest mortgage sales period seasonally, was our highest quarterly revenue recorded to-date since the Company began operations as MortgageBrokers.com in February, 2005, and exceeded Q3, 2006 - considered the highest quarterly mortgage sales period seasonally. This demonstrates that the company's sales agency model is being well received in the market and is gaining significant momentum. - Our reported revenue for the period suggests that we presently have an annualized $2.8 billion book of business. This does not include the significant recruitment to our national sales agency made in Q1, whose revenue is typically not seen for three to four months following exclusive licensure with the Company. Management currently feel the Company is tracking to funding between $2.8 and $3.0 billion in mortgage origination sales in 2007 representing between $25 to $30 million dollars in gross revenue. - The Company has decreased operating losses each quarter and expects to reach profitability within Q2 or Q3 of 2007 with our existing cost structure. - During the first quarter 2007, the Company had revenues of $1,189,252 and operating expenses of $2,924,402 for a quarterly net loss from operations of $1,735,150. This quarterly operating loss is reduced to $576,207 if you do not consider the charges for stock-based and warrant-based compensation which shows growth and that the company is tracking to profitability as compared to an operating loss of $813,789 in our first quarter of 2006. Some of MortgageBrokers.com Business highlights -----------------------------------------------

As at May 14, 2007, the company has increased its sales force to 201 licensed mortgage agents/loan officers in our national origination sales force network. At the present time, the Company believes it has in excess of $2.8 billion in mortgage origination sales books of business in the agent recruitment pipeline. As of March, 2007 the company had established a national retail branch team network of 13 retail branch offices.

The first quarter of 2007 represented one of the most active and productive quarters with regards to our recruitment of professional mortgage agents to join our national sales agency. The Company has signed revenue licensing agreements with 49 mortgage brokerages and independent mortgage agents between February and April of 2007 who will now operate exclusively under the universal domain name and brand of MortgageBrokers.com. The total mortgage origination production of these new affiliates is estimated to be in excess of CAD $862 million and the Company projects to capture up to an estimated CAD$8.6 million in gross revenues to be generated by these new affiliates. MortgageBrokers.com currently has 201 mortgage brokerages and independent mortgage brokers working under the MortgageBrokers.com umbrella and is receiving a record number of inquiries from prospective brokers.

The Company announced during the reporting period that it has received regulatory approval from the Financial Institution Commission of British Columbia ("FICOM") to begin operating in the province of British Columbia, Canada's second largest market estimated at $32 billion in mortgage sales annually. The Conference Board of Canada forecasts British Columbia's economy will "remain robust" over the next two years, predicting economic growth of 3.9 percent this year and 3.2 percent in 2007. British Columbia can expect strong performances in the construction, manufacturing and mining sectors, as well as residential and non-residential investment. The Company projects over a $1.5 billion in mortgage origination in 2008 in British Columbia. At the present time, the Company is negotiating with several large independent mortgage brokerage companies. The company hopes these companies will give the Mortgagebrokers.com a solid foot print in British Columbia market.

The company relationship with its Strategic partner RE/MAX continued its strong growth for 2006. As at May 10, 2007, the Company has successfully launched its Real Estate Strategic Alliance Partner Mortgage Solution at 36 RE/MAX franchises across Ontario and Atlantic Canada which representing 33% of the RE/MAX Franchise network sales force. This market penetration, serviced currently with 58 of our Company mortgage sales agents allows the 2528 RE/MAX sales associates able to build their retirement fund at Manulife Financial through leveraging their customer relationships through mortgage referrals to the Company. The following summarizes major activities associated with RE/MAX since December 31, 2007:

The company relationship with its Strategic partner RE/MAX continued its strong growth for 2006. The following summarizes major activities associated with RE/MAX since December 31, 2007:

1) Both RE/MAX and MortgageBrokers.com announced the selection of Manulife Financial as the new administrator of the Retirement Savings Program for RE/MAX Real Estate Agents. The company made the announcement with its strategic alliance partner RE/MAX Ontario-Atlantic Inc. (RE/MAX). Under the terms of the MortgageBrokers.com and RE/MAX strategic alliance, a portion of revenue generated on a funded mortgage referral will be contributed towards the Retirement Savings Program for the referring Real Estate Agent. Manulife Financial will support the continuing administration of this Program - the first of its scope in the Canadian Real Estate Industry. A corporate mini site was developed in Manulife website to provide additional information for RE/MAX Sales associate about this program (http://www.manulife.ca/remax) 2) Company began a co-location initiative with RE/MAX Realtron and RE/MAX Hallmark, two of Canada's largest RE/MAX franchise offices that have an estimated CAD$3.2 billion in combined sales. RE/MAX Hallmark and RE/MAX Realtron boast in excess of 1,000 real estate agents in 14 retail locations throughout Ontario, the most populous province in Canada. 3) The Company launched its service at RE/MAX Unique Inc. in Toronto, which operates 2 retail franchise office locations, having in excess of 45 sales associates in the centre of Toronto. RE/MAX Unique has two offices in Metropolitan Toronto and is owned and operated by John Meehan. John Meehan is a well-respected and experienced real estate broker and a former president of the Toronto real estate board. 4) MortgageBrokers.com signed exclusive licensing agreement with Seaway Mortgage Partners, Inc. This company is headquartered in Kingston, Ontario and was founded by Stephen Marshall a former loan officer from the Bank of Montreal. Seaway Mortgage Partners, Inc. serves the Seaway region consisting of Kingston, Belleville, Peterborough, and other urban areas in eastern Ontario. Seaway has already begun participation in the RE/MAX co-location program due to its recent affiliation with the Company through RE/MAX Realty Concepts Corp. which has an estimated 21.8% of this market. Seaway currently has offices in two RE/MAX locations and plans further expansion in the near future. 5) The MortgageBrokers.com also executed Servicing agreement with RE/MAX Niagara Realty Limited in Niagara Falls, Ontario. The RE/MAX Niagara franchise has 1 office and in excess of 100 sales associates and boasting a 50% regional market-share. Currently 1 MortgageBroker.com sales agent services this office. Cautionary Note Regarding Forward-Looking Statements ----------------------------------------------------

Statements included in this press release, which are not historical in nature, are intended to be, and are hereby identified as 'Forward-Looking Statements' for purposes of safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended. Forward-Looking Statements may be identified by words including 'anticipate,' 'await,' 'envision,' 'foresee,' 'aim at,' 'plans,' 'believe,' 'intends,' 'estimates,' 'expects' and 'projects' including without limitation, those relating to the company's future business prospects, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the Forward-Looking Statements. Readers are directed to the company's filings with the U.S. Securities and Exchange Commission for additional information and a presentation of the risks and uncertainties that may affect the company's business and results of operations. http://www.sec.gov/.

For further information, contact: MortgageBrokers.com Holdings, Inc. Alex Haditaghi, CEO 905.764.1200 alex@mortgagebrokers.com