Huge deal brings two leading Canadian alt-lenders together
Neighbourhood Holdings is purchasing Fisgard Asset Management Corporation, a blockbuster deal the company said will create one of the largest alternative mortgage lenders in Canada.
The acquisition, announced on Saturday, will see the two lenders embark on a “new phase of growth” helmed by Neighbourhood's chief executive officer Taylor Little, according to founder Alex Conconi.
In a LinkedIn post, Conconi said Neighbourhood will also launch an Alt-A product later this week and highlighted Fisgard’s Hali Noble and Rafer Strandlund, as well as Neighbourhood’s Jared Stanley, as key figures in the company’s growth plans.
The move is a significant one for Canada’s mortgage space, bringing together two alternative lenders with wide reach through the broker community.
Announcing the news, Neighbourhood said it had “long admired” Fisgard’s reputation in the industry and highlighted its decades of stability and leadership, a standard it said “closely aligns with our own values and vision.”
Fisgard, headquartered in Victoria, British Columbia, reportedly serves over 2,500 investors between British Columbia and Ontario, offering private mortgage products on both the residential and commercial sides.
The deal marks the latest step in a rapid rise for Neighbourhood, founded in 2015 and quickly becoming a major name in the alternative mortgage space.
In a video post, Strandlund said Fisgard had prioritized finding “a partner that has integrity,” and one with a comparable track record.
“It’s a funny story from our end. We’re the younger group on the block, and I remember a time when we had Fisgard up on the whiteboard as one of the key competitors to work with and aspire toward,” Little said. “And here we are, partnering with that group for the next 30 years.”
More details on Neighbourhood's Alt-A product are expected to be revealed in the coming days.
Make sure to get all the latest news to your inbox on Canada’s mortgage and housing markets by signing up for our free daily newsletter here.
