Lending Laughs

Written by Paula Hutton

It’s been an exciting new chapter for us at Neighbourhood! With the recent acquisition of Fisgard Asset Management, two respected teams in the alternative lending space have come together under one roof. Having spent many years at Fisgard before joining Neighbourhood, I’ve seen firsthand how both teams value relationships, integrity, and learning from every deal — even the challenging ones.

And if there’s one thing the lending world teaches you, it’s that every file has a story. Some are smooth, some are spooky, and some leave you shaking your head. Here are just a few memorable comments we’ve heard over the years:

“Just because my client has a criminal record doesn’t mean you should hold it against them.”

Know your client (KYC).
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The client served their time and are now out on good behaviour. When I Googled the client and found the criminal record (something that had made the papers), it raised a red flag. This should have been disclosed upfront. It’s not about judgment; it’s about transparency. So yes, Google your client.

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“But the property is worth what we wanted!”

Read the full appraisal.

Your Lender has come back to you with a change in commitment (or cancelled it!) based on the appraisal that shows a low or no economic life. Economic life determines the maximum amortization. Your Lender should not be the first to read the entire appraisal. Please, have a boo before you send it.

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“You can’t enter the property because I don’t have a key / someone is sleeping / the door is broken.” 

Every room must be accessed and photographed.

Appraisal reports can be easily altered, and client copies may omit photos or change valuations and adjustments. If you already have an appraisal, make sure to request a letter of transmittal and a direct copy from the appraiser to ensure accuracy and integrity.

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​“I’m not sure what the extra funds are for, should I ask my client?”

All funds must be accounted for.

Refinancing a home can be a source of income for criminal activity. All investments should be clarified (what kind, where, and why), especially when refinancing is involved. If the client needs money for travel, household expenses, or payments, make sure those details are clearly included in the use of funds.

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“I can’t get the clients to sign because they went on vacation.”

Be upfront in client communications.

A vacation right before the biggest financial transaction of their lives? This comment comes up more often than you'd think. It is okay to ask the client if they are using another broker or if they are waiting to hear back from their bank. Be up front with them and they won’t have to ghost you if they need more time.

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As Neighbourhood and Fisgard begin this new chapter together, it’s a reminder that behind every mortgage — and every story — are people working hard to get it right. Whether it’s learning from a quirky file or navigating complex deals, the same principles apply: transparency, communication, and care. Those values have guided both teams for years, and they’ll continue to guide us as we grow together.

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Paula Hutton
Broker Relations Manager, Western Canada
Neighbourhood Holdings
 
Paula has been licensed in the mortgage industry for over 20 years. She started her career as a mortgage broker and has spent most of her time on the private lending side of our industry. 

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If you would like any additional information, contact [email protected]. Visit our website at www.neighbourhood.com/brokers/contact.