XCEED Launches New No Frills Mortgage: XCEED Simplicity Mortgage

    




 TORONTO, April 12, 2012 /CNW/ - XCEED Mortgage Corporation [TSX: XMC], a  Canadian provider of residential mortgages, announces the launch of the  new no frills mortgage product, the XCEED Simplicity Mortgage. 

 XCEED Simplicity Mortgage offers borrowers significantly lower interest  rates in return for more restrictive prepayment options. XCEED  Simplicity is a good choice for borrowers seeking low rates who do not  expect to prepay the mortgage during its term. 

 Product Highlights include 




        --  Low interest rates
        --  10/10 repayment privileges
        --  90 day rate hold
        --  Up to 30 year amortization
        --  Monthly, bi-weekly, weekly, accelerated bi-weekly and
            accelerated weekly payment frequencies




 The mortgage can be discharged only if the mortgage is refinanced with  XCEED Mortgage Corporation or in the event of a bona fide sale of the  property. 

 Our goal is to offer Clients more choices that fit their financial  reality, plans and goals. XCEED Simplicity Mortgage( )represents an opportunity to take advantage of historically low interest  rates and the stability of a five-year commitment, which is ideal for  first-time homebuyers; borrowers on a fixed income, such as retirees;  or anyone planning to stay in their home for at least five years. 

 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 $1.0 billion of mortgages and other assets 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. 

Xceed Mortgage Corporation


CONTACT:  Visit www.xceedsimplicity.com or contact:Gleb Ioussoufovitch, Director Sales and MarketingXCEED Mortgage [e-mail][phone] extension 3243 


    

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