CEO says lender plays a valuable role in addressing a major gap in the mortgage market
Neighbourhood Holdings announced earlier this week that it has recently crossed $300 million in assets under management.
Taylor Little, CEO of Neighbourhood, said that this demonstrates the lender’s value in filling a major gap in the mortgage market.
“Product innovation is a top priority of ours as we strive to design structures that address the quickly changing credit needs of Canadians,” Little said. “We think this will be a key differentiator as Neighbourhood continues its march toward achieving its goal of becoming Canada’s top alternative lender.”
The lender has funded nearly $900 million in alternative mortgages since it began operations in 2015.
Read more: What impact has the pandemic had on alternative lending?
Little said that in addition to this pace of growth, Neighbourhood is seeing record loan performance. The executive credited this robustness to the company’s interest-only offerings “aimed at increasing borrower stability.”
“As we grow, we will continue to be laser-focused on our founding principles of being transparent, data-driven, agile, and obsessed with the customer experience,” Little said. “We want everyone’s interaction with Neighbourhood to be a good one.”
