Canada's Xceed, Other Mortgage Lenders Pare Loans, Globe Says

Canadian mortgage houses such as as
that impart to riskier borrowers are
starting to draw back as the personal effects of the U.S. subprime
mortgage crisis spill into Canada, the Earth and Mail reported.

Xceed, a Toronto-based lender, yesterday suspended a line
of uninsured mortgage products, the newspaper said. Richard
Wertheim, a spokesman for a public dealings house representing
Xceed, didn't immediately go back a telephone phone call from Bloomberg
News seeking comment.

Lenders such as as Xceed stand for about 5 percentage of the
Canadian mortgage market, the newspaper said. The retreat may
help big Canadian Banks and companies such as as Home Capital
Group Inc., the Earth said.

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