Time to Load upThere are many positives about Exceed's 2009 performance...............
..........- Cash flow from operations increase 13% to $12.2 million in 2009 -
.........Xceed has achieved positive net income and cash flow from operations in five of its past six quarters -
................Significantly increased originations of new mortgages in 2009;
..............Xceed's origination of new mortgages was $524.1 million, a 46.3% increase from the 2008 level
........- Assets under administration at $1.914 billion at year-end - Mortgage default ratio remains stable at 3.5%, down slightly
Good cash position and a har4d book value of about $3.
Approval to become a federally regulated Schedule 1 bank is expected soon , and that approval should light the share price up, as it will provide exceed with access to multiple sources of capital.
Banks trade at about 1.5 times book and all pay a dividend...