Mortgage provider taking steps to free up equity
Appointments come as company works to convert to a bank
Company looking forward to 2010 after a razor slim profit in fourth quarter
Company name to change to Xceed Bank, pending OSFI application approval
As a bank, Xceed would have more flexibility to offer other financial products besides mortgages
The mortgage firms are looking to become Schedule 1 banks in an effort to gain greater access to funding
Q1 profit jumps on one-time gains
Cash flow up, but low interest rates hurting interest receivable
Shift from non-traditional mortgages cuts business volume
Mortgage provider expects to return to profitability in second half of fiscal 2008