Thank you for the compliments. I trust we are all seeing some light in this share tunnel as the price has moved up considerably since the press release.
Prior to August 2007, Xceed was valued at a discount to other mortgage companies (ex. Home Capital) because of the market within which they operated? Would Xceed now be valued at the same level as its peers?
I can see Xceed returning to sub-prime mortgages, but adding to their product offering such as lines of credits and credit cards tied to mortgages.
One thing is for sure. There is a very very profitable market for mortgages requiring very little down financed by sources such as GICs. For proof, read the August 6th press release from Home Capital Group. They declared another quarter of record profits.