Mortgage Alliance announced Monday a partnership with Personal Lending Solutions (PLS) aimed at making alternative lending more accessible to brokers.
“It’s part of our long-term strategic plan to arm our brokers with the most effective technology, products and brand to help them build profitable businesses with enduring value. That's why Personal Lending Solutions fits our mission so well." Michael Beckette, president & CEO at Mortgage Alliance, said. “The unobtainable can become a reality for our customers using this dynamic portfolio of competitively priced private and institutional lending solutions.”
PLS provides a wealth of alternative lending products, including first and second mortgages, bridge financing, equity lending, forecolusures, construction financing and other non-resident lending.
With alternative lending becoming a more popular solution for providing mortgages, the partnership will provide Mortgage Alliance Brokers their own dedicated team to help facilitate the process.
“The importance of private lending market is expected to become even more significant with current regulations in place," Ty Naemsch, President of Personal Lending Solutions told MortgageBrokerNews.ca. "PLS arms Mortgage Alliance with the tools needed to be leaders in the changing Canadian mortgage landscape.”
And this announcement could not have come at a more opportune time from Mortgage Alliance brokers; as several industry players have recently complained about the wait times required when dealing with alternative lenders.
“Mortgage Alliance Brokers are well positioned to offer our services to an important and growing demographic,” Naemsch said. “In turn, we’ll provide them with timely communication from a Senior Underwriter for all deal inquiries. Plus our service commitment will include same day contact by PLS on deal submission.”
Naemsch, for his part, is no stranger to alt-A, as he spent 12 years with the Royal Bank of Canada specializing in alternative lending.