XCEED Launches RRSP Mortgage

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 only.

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.

Product Highlights

• 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 under administration.

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.

Profil de l'entreprise

Xceed Mortgage Corporation

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