Prospectus Filed For Xceed Mortgage Trust

The term notes offer maturing dates of up to five years, and is being underwritten by a syndicate of CIBC World Markets. The proceeds will be used to purchase residential mortgages already originated by Xceed Mortgage Corporation and securitized by an additional trust. The move will allow the company to diversify its funding activities, which had, to this point, been focused on the short term commercial paper market. It will also allow the company to offer greater flexibility and liquidity, as well as boosting its power for lower cost financing in its residential mortgage market.

Xceed Mortgage Corporation is part of the alternative residential lending movement in Canada. It has rapidly grown to be a leader in the non-traditional residential mortgage market, operating in a market that has a potential size of more than $60 billion. The company was incorporated in 1997 and offered its first public shares in 2004. By utilizing non-conforming credit options, as well as catering to sub-prime credit borrowers, Xceed has built a ledge for itself in Canada’s mortgage market.