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Product and Policy Overview. X-Series UNINSURED. XCEED Mortgage Corporation. HELPING CANADIANS MAKE IT HOME. MCAN Mortgage Corporation. Founded in 1991 and headquartered in Toronto Listed on the TSX (symbol: MKP) Is a reporting issuer in all provinces and territories in Canada - PowerPoint PPT Presentation
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HELPING CANADIANS MAKE IT HOME
XCEED Mortgage Corporation
X-Se
ries
UNIN
SURE
DProduct
and Policy Overview
MCAN Mortgage Corporation
• Founded in 1991 and headquartered in Toronto• Listed on the TSX (symbol: MKP) • Is a reporting issuer in all provinces and territories in Canada• Is a Loan Company under the Trust and Loan Companies Act, and
is therefore an OSFI-regulated financial institution• Qualifies as a mortgage investment corporation (“MIC”) under the
Income Tax Act (Canada)• Issues term deposits that are eligible for CDIC insurance • Recently added origination capabilities via its wholly-owned
subsidiary, XCEED Mortgage Corporation (“XCEED”)
[1] For further details, refer to MCAN’s Description of Business in 2013 Annual Report[2] Definitions used above: TSX = Toronto Stock Exchange; OSFI = Office of the Superintendent of Financial Institutions: MIC = mortgage investment corporation; CDIC = Canada Deposit Insurance Corporation
Core Operations
• Insured single family• Uninsured single family • Construction • Commercial
Corporate Mortgages | Four Main Asset Classes
• Greater Toronto Area• Greater Vancouver Area• Greater Calgary Area • Greater Edmonton Area
Core Markets for Commercial & Construction
Markets for Single Family• Across Canada, major and medium centres
Mortgage Portfolio (As at December 31, 2013)
Corporate Mortgages by Type
Single Family - Uninsured
31.8%
Single Fam-ily - Insured
14.8%
Construction - Residential42.2% Construction
- Non-Resi-dential0.8%
Commercial10.4%
Total Corporate Mortgages: $861.6 million(up 16.5% from $739.8 million at Dec-2012)
Mortgage Portfolio by Province (As at December 31, 2013)
Total Single Family Mortgages: $401.2 million
Ontario43.8%
Alberta20.2%
British Co-
lumbia16.2%
Quebec8.3%
Atlantic Prov-inces8.5%
Other Provinces
3.0%
Ontario44.6%Alberta
21.4%
British Co-
lumbia25.0%
Quebec3.8%
Atlantic Prov-inces2.6%
Other Provinces
2.6%
Construction and Commercial Mortgages: $460.4 million
Introducing New XCEED Uninsured Mortgage Solutions: X-SeriesX-Series is a new, fully-featured, uninsured mortgage solution suite from XCEED that is available to select Master Brokers across Canada.
X-Series solutions highlight property as the cornerstone of XCEED’s uninsured lending philosophy, that allows Canadians with unique circumstances to attain or preserve home ownership.
XCEED Mortgage Corporation 2014
Product Highlights:1, 2 and 3-year fixed terms.Up to 80% LTV on owner-occupied properties; 75% LTV on rental properties.No minimum Beacon score.
Up to 30-year amortization.
90-day rate hold on purchase; 30-days on refinance.
Fully-featured mortgage solutions:
20/20 prepayment privileges.XCEED uninsured mortgages can be paid out at any time for any reason, with penalty.
XCEED Mortgage Corporation 2014
XCEED Offers Flexibility:We cap administration fees of 1% maximum
into principal balance of mortgage, when possible.
No hold-back for property taxes, which means we offer your client even more money at closing.
These features offer clients an increased cash-out amount on refinance transactions or a lower down-
payment on purchase transactions.
For example, average property taxes on a $500,000 home in Toronto are 10%, or $5,000, per year. A six-month tax hold-back would equal $2,500 and a 1% admin fee would equal $5,000. XCEED is able to offer your client $7,500 more on principal amount, to be used towards things like debt repayment and home improvements.
XCEED Mortgage Corporation 2014
XCEED Offers Peace of Mind:
Free Home System Warranty Insurance from XCEED Mortgage Corporation and Encompass Home Service™ for the first year of two and three-year mortgage terms
and the first six months of one-year terms!
Worth up to $10,000 annually in eligible home repairs to home systems, such as
central heating and air conditioning, electric, water heater and plumbing.
XCEED Mortgage Corporation 2014
XCEED Offers Opportunity:Up to 80% LTV on single family properties,
including apartment condominiums in major centres, and 75% LTV on rentals.
XCEED will allow secondary financing up to 90% LTV.
Broker-driven private funds are welcome!
XCEED Mortgage Corporation 2014
XCEED Offers Growth:
Clients with lower Beacon scores, such as those between 500 and 600, do not
always have a wide range of options when it comes to home financing.
Finders Fees 10BPS higher than other lenders
1-year terms: 60 BPS2-year terms: 70 BPS3-year terms: 85 BPS
XCEED Mortgage Corporation 2014
XCEED Customer ProfileHere are just a few examples of the clients we can
offers solutions to, who might otherwise be excluded by other lenders. :
Client #1, who is gainfully employed with verifiable income, yet has damaged credit due to a major life event and a Beacon score in the low-to-mid 500s. XCEED can offer this client a refinance or purchase deal to 80% LTV.Client #2, who is self-employed and unable to confirm income via traditional means. He has a Beacon score between 525 and 625. XCEED can offer this client a refinance deal to 75% or a purchase deal to 80%.
Client #3, owns 10 rental properties and has been denied by other lenders for this concentration. XCEED can offer her a refinance or purchase deal up to 75% due to her strong credit.
XCEED Mortgage Corporation 2014
Deal Purpose• 80% LTV• PurchaseEmployment• Main applicant – employed full-
time for the last 12 months in a Management occupation
• Co-applicant – student, not working
Residence• 10 years at current residenceGDS/TDSR• 32.96%/38.82%
Property and Location• Owner-occupied• High-rise apartment condo• Toronto, ONCredit• Main applicant: Beacon 577;
Consumer’s Proposal discharged two years ago, no re-established on the bureau, used mortgage for current residence as re-established
• Co-applicant: No credit
Summary: Co-applicants with credit challenges who are purchasing a condo in a major urban centre. XCEED APPROVED this deal at 80% LTV for a one-year term at 5.25% with 1% administration fee deducted from the advance.
Case Study #1
XCEED Mortgage Corporation 2014
Deal Purpose• 80% LTV• RefinanceEmployment• Main applicant – employed full-
time for over four years in a Professional occupation
Residence• Over three years at current
residenceGDS/TDSR• 29.54%/34.92%
Property and Location• Owner-occupied• Duplex (one unit owner-
occupied; one unit rented out)• Kingston, ONCredit• Main applicant: Beacon 727; A1
credit, couldn’t be approved by insurer due to high concentration of rentals
Summary: A professional applicant with six rental properties who is refinancing her owner-occupied duplex to obtain cash-out for investments. XCEED APPROVED this deal at 80% LTV for a two-year term at 5.49% with 1% administration fee deducted from the advance.
Case Study #2
XCEED Mortgage Corporation 2014
SummaryUp to 80% LTV on owner-occupied properties.
XCEED Mortgage Corporation 2014
Up to 75% LTV on rental properties.
No minimum Beacon score.
We allow unlimited investment properties in a client’s portfolio.
Fully-featured mortgage solutions.
Industry-leading compensation.
Contact XCEED
SalesMelanie LapointeBDM, Western Ontario (west of Hwy 427), Alberta, [email protected] free: (888) 811-6660 ext. 3487Mobile: (416) 648-2854Fax: (866) 426-2985
Tommy VrazalisBDM, Prairies, Eastern Ontario (east of Hwy 427) and [email protected] free: (888) 811-6660 ext. 3268Mobile: (416) 716-9432Fax: (866) 275-8394
Gleb IoussoufovitchDirector, Sales and [email protected] free: (888) 811-6660 ext. 3243
UnderwritingAnne ReganCredit [email protected] free: (888) 811-6660 ext. 3428Fax: (866) 745-6693
Dianne VieiraSenior Underwriter [email protected] free: (888) 811-6660 ext. 3252Fax: (866) 549-8905
Nasrin Dossa-LallSenior Underwriter [email protected] Toll free: (888) 811-6660 ext. 3245Fax: (866) 274-1834
David MarcotteAVP, Mortgage [email protected] free: (888) 811-6660 ext. 3240
Contact XCEED