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 , 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. 

Xceed Mortgage Corporation


CONTACT:  For more information on XCEED products, pricing and promotions,pleasevisit XCEED XPRESS. 


    

Copyright