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Our Business

XCEED works with Canadian mortgage insurer Canadian Mortgage and Housing Corporation (CMHC) to offer you a variety of flexible options.

XCEED helps Canadians fulfill their aspirations of home ownership. Borrowers range from those who have solid credit and income histories to those who have gone through periods with limited and specific credit difficulties but have since recovered and repaired their credit.

XCEED operates in all provinces and is regulated under mortgage broker legislation in each province.

XCEED is a strong supporter of the Canadian Association of Accredited Mortgage Professionals (CAAMP), a national association that sets the standard for best practices in the Canadian mortgage industry. For example, XCEED has been an early adopter of the Accredited Mortgage Professionals (AMP) designation that was recently created by CAAMP to serve as a national proficiency standard for the mortgage industry. This designation is only awarded to members who have met both educational and work experience requirements and it requires that all AMPs enroll in continuing education courses each year to maintain their standing.

At XCEED, our motto is “Helping Canadians Make It Home”.

Our Leadership

Ivan Wahl, Chairman, CEO & Director

• 30 years of experience in the Canadian
  mortgage finance industry.
• Played a leading role in the development of the
  mortgage-backed securitization industry in Canada.
• Founded FirstLine Trust Company in 1985, grew
  and sold the business to CIBC in 1995.
• Vice-Chairman and Director of CIBC Mortgages Inc.
  from 1995 to 2001.
• Recipient of the Ernst & Young Financial Services
  Entrepreneur of the Year award for 2005.
  

What fees will I have to pay if XCEED provides me with a mortgage?
The costs associated with an XCEED mortgage are similar to those charged through any other lender, bank or trust company. A borrower typically incurs three additional fees when entering into a mortgage with a lender: an insurance premium/administration fee, an appraisal fee, and any legal fees charged by the borrower’s lawyer to complete the transaction.

What happens if I sell my house?
While XCEED mortgages are contractually closed, XCEED will allow the reimbursement of the mortgage prior maturity provided that the borrower remits a prepayment penalty which is the equivalent to the greater of 3 months interest or the present value of the loss of interest.

What do I do if I have questions about my property taxes or get a property tax bill?

Call XCEED’s Customer Service department at (877) 775-2970.

Can I pay my mortgage bi-weekly or weekly?
XCEED offers monthly, bi-weekly and weekly payment frequencies (last two are also available in accelerated option). Call our Customer Service Department at (877) 775-2970 for more details.

Can I make a lump sum pre-payment?
Your pre-payment privileges allow you to make a 20% pre-payment of your original balance on the mortgage anniversary. You can also increase your original regular monthly payments by up to 20%.

I have a variable (adjustable) rate mortgage.
How do I convert to a fixed rate? What is my rate when I lock-in?

You can convert your variable mortgage to a fixed rate mortgage at any time, provided that it is in good standing. To talk about converting your mortgage, please call XCEED’s Customer Service Department at (877) 775-2970.

We use the current rate for the equivalent fixed rate product, using your current credit score (also called a ‘Beacon score’).   

If rates drop during the term of my mortgage, will you review my rate?
We can only do it if you apply for refinancing or an early renewal. In case of the refinancing your application has to be approved by both XCEED’s Credit Risk Department and CMHC.

How can I apply to increase my current mortgage amount?
This is called a refinance transaction. You can either call an XCEED Mortgage Officer at (888) 811-6660 or complete our online application.

Do you do second mortgages and personal loans?
XCEED only offers first mortgages on residential properties.

I want to move into a different home, can I transfer (port) my mortgage to this new property?
At this time XCEED only offers ports for CMHC insured mortgages.

1. If you want to port and decrease the mortgage at the same time you will have to use your 20% pre-payment privilege to do so; if the mortgage amount is reduced by more than 20%, XCEED’s standard prepayment penalty rules apply.
2. The terms and conditions of the original contact have to be preserved.
3. Submit an application for the port at, https://www.xceedmortgage.com/Customer/applyOnline.asp?docid=0EB1836BC25AA1E2857817E5997FB8D5.
4. The updated application will be re-qualified by XCEED based on your current credit and income.
5. The property you buy must be appraised and approved by XCEED.
   

I want to sell my house and my buyer wants to take over (assume) my XCEED mortgage. Can this be done?
XCEED mortgages are assumable only in the Province of Alberta subject to XCEED’s approval. If you are in Alberta, please contact XCEED’s Customer Service Department by fax at (877) 593-7757 or phone at (877) 775-2970 for further instructions.

How do I go about removing someone’s name from my XCEED mortgage and from the property’s title?

This is called a “title transfer”. XCEED only offers title transfers for CMHC insured mortgages.

1. The terms and conditions of the original contact will be preserved (same rate, payment, loan-to-value ratio, etc.).
2. Submit the application for the title transfer at https://www.xceedmortgage.com/Customer/applyOnline.asp?docid=0EB1836BC25AA1E2857817E5997FB8D5.
   
   The updated application will be re-qualified by XCEED based on your current credit and income.
3. The $250 non-refundable processing fee is applied to every title transfer application. The fee must be submitted with the application or mailed after the online application is submitted. The fee is paid by the certified cheque or money order payable to XCEED Mortgage Corporation.

What if I need to replace a person on the title of my property and on my mortgage with someone else or add a new person?

EARN $250.00 FOR SUCCESSFULLY REFERRING FRIENDS TO XCEED!