XCEED Launches New Super PRIME Mortgage Product for Customers with Great Credit

TORONTO, July 11, 2012 /CNW/ - XCEED Mortgage Corporation [TSX: XMC], a Canadian provider of residential mortgages, announced the launch of the new Super PRIME Mortgage. Super PRIME is an opportunity to save with low interest rates for customers who show a history of responsible credit management.

Product Description
XCEED Super PRIME is a fully-featured, five-year mortgage solution for customers with exemplary credit history that is competitively priced at XCEED Posted less 25 BPS.

Customer Profile
PRIME customers are fully-salaried or BFS Qualified and boast stellar credit histories.

Product Details

• Purchase and refinance
  
• Available for 5-year mortgage terms only
  
• Minimum Beacon Score of 740 (all applicants)
  
• 90-day rate hold
  
• Maximum loan-to-value 90% purchase; 80% refinance (CMHC premium will be charged on refinance deals)
  
• 20/20 prepayment privileges
  
• Fully-salaried or BFS Qualified customers only
  
• Down payment from customer's own resources only for purchase transactions
  
• Monthly, bi-weekly, weekly, accelerated bi-weekly and accelerated weekly payment frequencies

XCEED Super PRIME rewards high credit ratings with low interest rates!

About XCEED Mortgage

XCEED Mortgage Corporation, based in Toronto, is a Canadian provider of residential mortgages that it originates in Canada.  The Company has approximately $0.9 billion of mortgages under administration.  XCEED's shares are traded on the Toronto Stock Exchange [TSX: XMC]. To find out more about XCEED Mortgage Corporation, visit www.xceedmortgage.com.

For further information:

Visit www.xceedmortgage.com or contact:

Gleb Ioussoufovitch, Director Sales and Marketing
XCEED Mortgage Corporation
[e-mail]
[phone] extension 3243