Xceed Mortgage trust tranche 2006-T1 pays back all noteholders

By Melissa Kory

Cleveland, Dec. 17 - Xceed Mortgage Corp. exercised the clean-up call for its trust tranche 2006-T1.

After the exercise of the clean-up call, all C$360.4 million advanced by investors to purchase term notes issued by the trust to facilitate the purchase of a pool of C$531 million of residential mortgages will be paid back to the noteholders.

The final installment of C$3 million will be paid back to the D-noteholders Friday. Notes amounting to C$170.6 million have been paid back to the respective note holders.

The subordinated E-noteholders will also be paid back their principal amount of C$10.5 million in full.

Xceed Mortgage, based in Toronto, is a Canadian provider of insured residential mortgages.

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