(March 22 – 09:50 Et) – Mortgage Intelligence Inc. is teaming up with Manulife Financial to act as the exclusive mortgage broker distribution channel for the Manulife One account.

Manulife One is an account that allows consumers to bring their mortgage and income together into one multi-purpose “borrowing and chequing” account.

Manulife One automatically applies consumer income against their mortgage, whenever consumers are paid. Since interest is calculated daily, the longer that dollars stay in their account, the more debt is reduced and the less interest they pay. The account also offers consumers access to telephone, internet, and ATM banking. To qualify for Manulife One, customers require at least 25% equity in their home.

“Canadians have been telling us that they are looking for ways to save money, particularly on their mortgages,” says Bob Tillmann, vice president Manulife One. “Manulife has almost 700 advisors licensed to distribute the One account and this agreement will broaden our efforts to make as many Canadians as possible aware of this unique approach to paying down their mortgage.”

“MI consultants across the country are gearing up to introduce this innovative new financial product to the brokerage marketplace,” says Bob Ord, president and CEO, Mortgage Intelligence Inc. “The concept has already proven successful in Australia, where more than one-third of all new mortgages are set up in plans similar to Manulife One.”