TORONTO, Sept. 30, 2011 /CNW/ - Xceed Mortgage Corporation [TSX: XMC], a Canadian provider of residential mortgages, today announced that it
has launched a new mortgage product.
The newest addition to the unique XCEED Latitude product suite, XCEED
RRSP Mortgage offers Canadians a reduced rate (XCEED posted rate less
5BPS) on funds borrowed towards a contribution to an existing
Registered Retirement Savings Plan (RRSP). The goal of this product is
to motivate savings for long-term life goals, such as travel and
retirement via a highly competitive product with minimum conditions and
a cash-back towards the same RRSP. The product is offered for refinance
The minimum required contribution from funds borrowed is $1000. In
addition to rate savings, XCEED will contribute $500 to same RRSP. This
means a minimum contribution of $1500.
• Offered on refinance
• Reduced rates (XCEED posted rate less 5BPS)
• Minimum required contribution to Registered Retirement Savings Plan
(RRSP) is $1000
• XCEED contribution to same RRSP is $500
Xceed distributes this and other unique products such as the PREP and
XTRAGREEN mortgage directly to existing clients, and now to a select
group of mortgage brokers known as Friends of Xceed. This marks the
return of Xceed to the mortgage broker channel.
About XCEED Mortgage
Established in 1997, XCEED Mortgage Corporation offers unique and
competitive residential mortgage products to Canadians through an
extensive network of mortgage broker partners. XCEED Prime products
are available to borrowers with strong credit and income histories.
XCEED is a market leader in product development and innovation, risk
management, and servicing and technology advancement. XCEED remains
committed to our clients, our partners, and to the idea that Canadians
should be able to enjoy the pride of ownership and the opportunity to
invest in their own futures. We continue with our mission of "Helping
Canadians Make It Home".
Future growth is expected to be driven by an entrepreneurial culture
that emphasizes reward for performance, well grounded risk management
skills that have helped the company stay on course in good times and
bad, many years of experience in the residential mortgage and
securitization businesses, a strong and supportive network of mortgage
broker partners, and a well capitalized balance sheet ($61 million of
total shareholders'equity approximately).
The company has approximately $1.2 billion of mortgages and other assets
XCEED's shares are traded on the Toronto Stock Exchange.
To find out more about XCEED Mortgage Corporation (TSX: XMC), visit our website at www.xceedmortgage.com. Readers of this release should also refer to cautionary notes
regarding forward looking statements and other information disclosed in
Xceed's MD&A for its third-quarter of fiscal 2011 available at www.sedar.com.
SOURCE Xceed Mortgage Corporation
For further information:
For more information on XCEED products, pricing and promotions, please visit XCEED XPRESS.