Behind the Lender with Mike Forshee, President of Glasslake Funding

6/10/2025: Tuesday Mortgage Memo: Your Weekly Market Highlights

6/03/2025: Tuesday Mortgage Memo: Your Weekly Market Highlights

Behind the Lender with Damon Knights, VP National Sales at Equitable Bank In this episode of Behind the Lender, we sit down with Damon Knights, Vice President of National Sales at Equitable Bank (EQB), for a candid, transparent look at the role of lenders in today’s mortgage marketplace. As one of Canada’s most prominent alt lenders, EQB has built its reputation not by chasing the lowest rates, but by prioritizing communication, broker education, and relationship-driven lending. With over two decades in the industry, Damon shares how EQB is navigating today’s headwinds while doubling down on its foundational commitment to helping brokers grow and succeed. This episode is a timely and insightful listen for brokers navigating rate sensitivity, changing client expectations, and the evolving role of technology in lending. EQB’s Broker-First Philosophy: Prioritizing Relationships Over Rates In a highly competitive market where lenders often compete on pricing, EQB is consciously choosing a different path. Damon explains that EQB’s goal is not to win the rate war, but to win the trust war —to be a lender that brokers turn to for consistency, clarity, and support when it matters most. EQB’s model is built around enabling brokers to win more business by providing fast, transparent communication, clear underwriting guidelines, and policies that are applied with common-sense flexibility. Damon shares that in many cases, success for brokers is about having a lending partner who understands the nuances of their files and will work collaboratively—not mechanically—to get them across the finish line. The Power of Communication in a Shifting Market With interest rates, affordability, and borrower anxiety at all-time highs, EQB sees communication as the most critical skill for brokers—and for lenders. Damon emphasizes that today’s clients expect more than a transaction; they want to understand their options, the “why” behind a decision, and what’s around the corner. He challenges brokers to lean in and over-communicate with their clients, especially during periods of uncertainty. Likewise, EQB is investing in clear, proactive communication on its side—helping brokers stay ahead of policy changes, rate movements, and shifting underwriting conditions. The lesson? The brokers who communicate best win the most trust—and ultimately, the most business. AI, Automation & Efficiency: Supporting the Human Side of Lending Damon shares how Equitable Bank is leveraging technology behind the scenes to support faster decision-making and reduce friction in the mortgage process. From internal automation tools to smarter document collection, the goal is t o enhance—not replace—the human side of lending. He’s clear that while tech is critical for efficiency, it will never replace the need for human relationships, judgment, and connection. Underwriters at EQB are empowered to apply both policy and perspective, and brokers can pick up the phone and speak with someone who knows their deal—not just a ticket system. This blend of technology and touch is what Damon believes will define the next generation of lending success. Broker Training: Raising the Bar Across the Industry Another key theme in the episode is education. Damon highlights the ongoing need for more broker training, particularly when it comes to understanding alt lender guidelines and being able to properly structure, package, and present deals. EQB is actively working to fill these gaps through webinars, lender days, and one-on-one guidance. For newer agents especially, having a lender that’s willing to educate—not just fund—can be the difference between closing a deal and losing a client. Damon en courages brokers to ask questions, build relationships with their BDMs, and become students of the lending process, not just facilitators. Changing Borrower Expectations & the Role of the Broker Today’s borrowers are coming in with higher expectations, more access to information, and more personalized needs. Damon shares that clients now expect more than a “yes” or “no”—they want advice, context, and a roadmap. This is where brokers have the opportunity to stand out—not by selling rates, but by selling clarity, confidence, and strategic thinking . The brokers who succeed are the ones who take the time to understand their clients’ full picture, offer real solutions, and communicate like professionals—not order-takers. As Damon puts it, “Clients don’t just want approvals. They want answers they can trust.” Trust and Longevity: What Brokers Should Expect from Lenders Damon closes the episode by outlining how EQB is positioning itself for long-term alignment with brokers. That means being responsive, consistent, and always willing to have the tough conversations. He reinforces that EQB doesn’t want to be just another name on a rate sheet. They want to be the lender brokers go to when deals matter—when timelines are tight, when nuance is needed, and when trust is on the line. The ultimate takeaway? “We’re not trying to win the rate game. We’re trying to win the relationship game.” Final Thoughts: A Refreshing Look Behind the Scenes This episode pulls back the curtain on how one of Canada’s leading alt lenders operates—from its core values to its evolving tools and broker partnerships. Damon Knights brings a unique blend of operational insight, market perspective, and human-centered strategy that makes this conversation valuable for brokers at every stage. Whether you’re actively placing business with EQB or simply looking to sharpen your edge as a broker, this is a conversation worth sitting with. Why You Should Listen This episode offers an inside look at how Equitable Bank —one of Canada’s leading alternative lenders—is redefining success in today’s mortgage landscape. Damon Knights shares invaluable insights on broker-lender relationships, the power of communication, and why EQB is focused on winning trust, not just rate. From borrower behavior trends to the role of AI and broker training, Damon’s transparent approach sheds light on how lenders can support brokers in building lasting client relationships. If you’re navigating a competitive, rate-sensitive market, this conversation delivers clear, practical takeaways you can apply immediately. Don’t miss the full conversation! Listen or watch now on your preferred platform! For weekly market updates, sign up for the ABW Tuesday Mortgage Memo . If you’re a broker considering a network change or looking to grow, reach out to us to explore how we can support your success.

5/27/2025: Tuesday Mortgage Memo: Your Weekly Market Highlights

5/20/2025: Tuesday Mortgage Memo: Your Weekly Market Highlights

Discover Mario Cloutier's key insights on leadership, collaboration, and client relations in the mortgage sector.

5/13/2025: Tuesday Mortgage Memo: Your Weekly Market Highlights

5/6/2025: Tuesday Mortgage Memo: Your Weekly Market Highlights

Behind the LeNder WITH Steve ponte of phl capital In the latest episode of Behind the Lender (Ep. 40), we had the privilege of sitting down with Steve Ponte, CEO of PHL Capital, to dive deep into the world of alternative mortgage lending. From the origins of PHL Capital to its current billion-dollar portfolio, Steve shared invaluable insights on the company’s journey, lending philosophy, and the evolving landscape of the mortgage industry. Whether you’re a mortgage broker, investor, or simply curious about alternative lending, this episode is packed with takeaways you won’t want to miss. Key Highlights from the Episode The Birth of PHL Capital Steve recounted how PHL Capital began in 2006 as a modest investment club with just $635,000 in assets under management. Initially focused on small second and third mortgages, the company grew steadily, hitting $10 million by 2013 and now managing nearly $1 billion. Steve’s experience at Toronto Dominion Bank, where he was exposed to mortgage investment corporations (MICs), planted the seeds for PHL’s unique approach to common-sense lending. A Full Suite of Lending Solutions Unlike many MICs that specialize in either residential or commercial lending, PHL Capital excels in both. From residential second mortgages to complex commercial land development deals, PHL offers a broad spectrum of products. Steve highlighted their comfort with large loans—some exceeding $30 million—attributing this to their banking background and focus on sophisticated borrowers. Common-Sense Lending and Relationships PHL’s lending philosophy is rooted in common-sense underwriting, prioritizing plausible exit strategies and logical deal structures. Steve emphasized the importance of broker relationships, noting that trust and track record play a critical role in approving “gray area” deals. PHL’s commitment to speed—often turning around commitment letters in hours—sets them apart in a competitive market. Investor Transparency and Responsibility Steve’s approach to investor relations is refreshingly transparent. At PHL’s annual investor nights, stakeholders, including auditors and bankers, are available for unfiltered Q&A sessions. Steve takes personal responsibility for investor outcomes, stating, “The buck stops with me.” This accountability, combined with stable returns, has attracted a diverse investor base, from teachers to dentists, with less than 30% in the real estate sector. Navigating Compliance and Technology The alternative lending space has seen significant regulatory changes, with PHL now navigating 14–15 regulators across multiple provinces. Steve views compliance as a consumer protection necessity, not a burden, and PHL has invested heavily in this area. On the tech front, PHL is embracing innovation, transitioning from Excel-based portfolio management to scalable systems while cautiously exploring AI’s potential amidst regulatory constraints. The Future of Alternative Lending Steve is optimistic about the growth of alternative lending, driven by banks’ tightening policies and borrowers’ need for flexible solutions. He noted a shift in borrower profiles, with PHL’s average beacon score now at 730, reflecting a more creditworthy clientele seeking short-term solutions. For brokers, Steve advises mastering the full lending spectrum—prime and alternative—to stay competitive. Advice for Aspiring MICs Starting a MIC today is far more challenging than in 2006 due to heightened compliance and capital-raising barriers. Steve’s advice? Surround yourself with good people, seek expert advice, and prioritize consumer protection to maintain a clean and reputable operation. Why You Should Listen This episode offers a rare glimpse into the operations of a leading MIC, from its entrepreneurial roots to its sophisticated present. Steve’s insights on broker relationships, common-sense lending, and industry trends are invaluable for anyone in the mortgage space. Plus, his candid take on compliance, technology, and investor relations provides a holistic view of what makes PHL Capital a trusted partner. Don’t miss the full conversation! Listen or watch now on your preferred platform! For weekly market updates, sign up for the ABW Tuesday Mortgage Memo . If you’re a broker considering a network change or looking to grow, reach out to us to explore how we can support your success.