RE: Gloom spreads north...Kinda strange why Xceed would not want to renew. I don't think we know the whole story but if the client was making his payments as agreed, why would a lender decide to not offer the renewal knowing full well they are guaranteeing themselves a loss in the event of a foreclosure. If the clients were continually a collection problem, then I could see Xceed saying "enough is enough - let's just take our lumps and get out while the getting is good - at any cost".
The only other thing I can think of why Xceed does not want to renew is "funding the mortgage". No doubt this mortgage was bundled with others and sold to an investor and the "investor" wants out - so who suffers the loss -
Xceed or the investor?
Xceed is making money but much less than before - I hope a buyer comes along.
Lorne