Canadian Private Lenders’ Podcast
The #1 Podcast on Private Mortgage Lending in Canada. Ryan MacNeil and Neal Andreino of Keystone Capital Group outline their private mortgage lending experience and help you grow your mortgage business, while focusing on the importance of the growing Canadian Mortgage Broker channel.
Canadian Private Lenders’ Podcast
Ep.126 | Are You Really a Private Lender? The Truth About Alternative Lending
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In Episode 126 of the Canadian Private Lenders Podcast, Ryan and Neal tackle a topic that’s quietly reshaping the entire mortgage industry: the difference between private lenders and alternative lenders.
For years, the terms have been used interchangeably. But with new perspectives from the Canadian Alternative Mortgage Lenders Association (CAMLA), that definition is being challenged, and it could change how lenders, brokers, and investors view the space.
This episode breaks down what truly separates private lending from alternative lending, from regulation and risk management to underwriting, capital structure, and borrower perception. The guys also share firsthand insights from operating a MIC, navigating audits, and seeing how institutional lending differs from “true” private lending.
If you’re a broker, investor, or borrower trying to understand where non-bank lending is heading, this is a must-listen.
Show Notes:
00:33 – Episode 126 kicks off + intro to topic
02:58 – Hockey rink business idea + lending discussion
04:30 – Topic introduced: Alternative vs Private lending
05:13 – CAMLA’s position: Are lenders mislabeled?
06:55 – Market update: Ontario lending sentiment shifting
08:04 – Why the distinction matters (regulation, risk, oversight)
08:46 – Definition: Alternative lenders explained
09:47 – Why “alternative” may be the better label
10:26 – Real-world example: audits & regulatory pressure
11:56 – What defines an alternative lender (structure + capital pools)
13:41 – Key distinction: pooled capital vs deal-by-deal lending
14:18 – Standardization vs flexible pricing in private lending
15:46 – Definition: Private lenders explained
16:43 – Risks & lack of structure in private lending
18:26 – Where MICs actually fit in this spectrum
19:56 – The stigma problem in private lending
21:19 – Simple breakdown: alternative vs private
23:07 – Rebranding debate: should lenders change positioning?
25:30 – Investor & borrower misconceptions
26:32 – Why redefining the category matters long-term
Resources:
Keystone Capital Group
CPLP Instagram: @cplpodcast
Keystone Instagram: @keycapgroup
Find Neal On:
Instagram: @neal.andreino
LinkedIn: Neal Andreino
Find Ryan on:
LinkedIn: Ryan MacNeil
E-mail: ryan@keycap.ca