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Our Business

XCEED works with Canadian mortgage insurers Canadian Mortgage and Housing Corporation (CMHC) and Genworth 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.
  

Karen Martin, President & Chief Financial Officer

• Previously the VP, Securitization & Capital Markets
  of XCEED Mortgage Corporation
• Previously the Treasurer of Amicus Holdings (division of CIBC),
  Director of Balance Sheet Management, and
  General Manager of Securitization for CIBC.
• Manager, Financial Analysis and Manager, Financial
  Reporting for FirstLine Trust Co. from 1988 to 1996. 

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 versions). 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 our principal balance on the mortgage anniversary. You can also increase your regular monthly payments by up to 20%.

I have a variable (adjustable) rate mortgage.
How do I convert to a fixed rate?
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.

What is my rate when I lock-in?
We use the current rate for the equivalent fixed rate product, using your current credit score (also called a ‘Beacon score’).   

How can I apply to increase my current mortgage amount?
This is called a refinance transaction. You can either call our internal sales team at (888) 811-6660 or fill out a mortgage application in the Customer section of our website at https://www.xceedmortgage.com/Customer/applyOnline.asp?docid=0EB1836BC25AA1E2857817E5997FB8D5

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

If my credit improves over the term of my mortgage, will you review my rate?
We can only do it if you apply for refinancing as per above, and your refinance application is approved by both XCEED’s Credit Risk Department and one of the Canadian mortgage insurers.

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 or Genworth insured mortgages. There are a few caveats in addition to the above:

1. You cannot increase the mortgage amount;
2. 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.
3. The terms and conditions of the original contact have to be preserved (same rate, payment, loan-to-value ratio, etc.);
4. Submit the application for the port, which can be found using this link https://www.xceedmortgage.com/Customer/applyOnline.asp?docid=0EB1836BC25AA1E2857817E5997FB8D5. The updated application will be re-qualified by XCEED’s Credit Risk Department and the mortgage insurer based on your current credit and income;
5. The property you buy must be appraised and approved by our Credit Risk Department and the insurer.
   
   Please call an XCEED mortgage officer at (888) 811-6660 for more details.

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. If you are in Alberta, please have your lawyer request the assumption statement from XCEED’s Customer Service Department by fax at (877) 593-7757 or phone at (877) 775-2970.

How do I go about removing someone’s name from my XCEED mortgage and from the property’s title?
XCEED does not offer title transfers. The only way to make changes to your mortgage is through refinancing.

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?
This would be the same transaction (“title transfer”) and will be considered by XCEED as a new refinance application.