It’s a treat, not a trick as Xceed Mortgage extends for two more months the bonus commission promo on one of its five-year mortgage product.
“Due to broker demand, we are extending this promo until December 31,” said Gleb Ioussoufovitch, director of sales and marketing for Xceed. “Brokers will get an extra 10 bps commission on top of the 125 bps we give on all five-year AAA XtraGreen mortgages they close.”
Other aspects of the Xceed model apply.
“Seasoned brokers as well as new entrants get a crack at the pot because we don’t have any minimum volume commitments,” according to Ioussoufovitch. “Agents do not need to work towards any qualifying volume in order to receive the 135 bps bonus.”
The deal was launched on September 30 to promote the AAA XtraGreen mortgage, which is priced at 3.14 per cent. The promo was supposed to go on until the end of October.
The product is insured by CMHC and has a 95 per cent LTV. It is offered to borrowers with a beacon score of 620 or more.
The product is called XtraGreen because for every deal closed $25 goes to Evergreen, a Canadian national charity focused on environmental projects.
Even with its latest move to sweeten the commission pot, Xceed may have some more work to do to make friends with some brokers, pointing to other tangibles besides compensation.
“For our office it’s about what value you bring to the table, not how much you will pay us,” wrote one MortgageBrokerNews.ca reader.