The Promise of a Promissory Note

Posted on March 26, 2025May 27, 2025 by Andy MacDonald

Yesterday, I had the pleasure of meeting with a new investor to explore whether private mortgage investing would be a good fit for them. As we discussed different investment options, they casually mentioned being approached by an acquaintance to invest in promissory notes with a so-called real estate guru. I wish I had a video of my reaction! My eyes probably bugged out of my head, and if I had been sipping coffee, I’m sure it would have gone flying. Instead, I immediately blurted out my opi...

Suitability: A Legal Perspective

Posted on March 25, 2025May 27, 2025 by Andy MacDonald

Mortgage brokers play a crucial role in Ontario’s private lending market, acting as intermediaries between borrowers and private mortgage investors. While their primary function is to facilitate lending transactions, they also bear a significant responsibility to ensure that any mortgage investment they recommend is suitable for the investor’s risk tolerance, experience level, and financial objectives. Failure to do so can lead to legal liability, financial losses, and professional misconduct a...

Top 5 Private Mortgage Investor Tips

Posted on March 21, 2025May 27, 2025 by Andy MacDonald

1. Understand The Story Every borrower has a story to tell if they are looking for a private mortgage. If they didn’t have a story they would be dealing with a bank. You need to listen to their story and determine if it makes sense. Does it pass the smell test? What problem are they trying to solve and will your mortgage solve their problem or just prolong their misery? 2. Know The Exit Strategy How is this mortgage going to be repaid? Are they relying on hopium or is there a clear pla...

Phuck The Fear & Stand Out!

Posted on March 17, 2025May 27, 2025 by Andy MacDonald

Seven years ago, I was sitting on a patio in New Orleans singing my first original song with the help of Murray Foster. It was St. Patrick's Day so of course I had to write an appropriate tune called, Raise A Glass Boys. Up to this point in my life, I had never been musical. I had never learned to play an instrument, and I was terrified of the thought of singing in public. I was turning 50 that year and, on a whim, I signed up for a "Songwriter Getaway" with the Toronto Songwriting School...

Expert Insights: Peter Morris

Posted on March 10, 2025May 27, 2025 by Andy MacDonald

Last week, I had the pleasure of meeting with Peter Morris, President of Robertson Morris, to expand my network of Expert Witnesses. My goal was to gain insights from his extensive experience and refine my skills in writing Expert Witness Reports for litigation involving mortgage brokers and agents in Ontario. With over forty-five years in the property and casualty insurance industry, Peter has a wealth of knowledge in his field. Over the past decade, he has transitioned into ...

Lessons From My Father: Timeless Wisdom for Private Mortgage Investors

Posted on March 2, 2025May 27, 2025 by Andy MacDonald

The other day, I was chatting with a colleague about the state of the private mortgage market in Ontario. The conversation took me back to something my father told me just weeks before he passed away. My father was a banker through and through. His career wasn’t just a job—it was part of his identity. He took immense pride in his work, and in his final days, he tried to pass on some wisdom. At the time, I was twenty and had decided to take a break from university. I had just landed a job as ...

Need a Mentor?

Posted on February 28, 2025May 27, 2025 by Andy MacDonald

Are you a newer Mortgage Broker or Mortgage Agent in Ontario? Do you need help with a complex file? It’s a tough market out there and borrowers need a lot more than a pulse to get approved these days. If you’re struggling to find a solution to help your client, please give me a call. With over 35 years of experience dealing in mortgages there isn't much I haven’t seen. Sometimes all you need is a different perspective to get a deal done. Let’s work together to find a solution for...

Hire An Expert Witness Early!

Posted on January 29, 2025May 27, 2025 by Andy MacDonald

I was recently contacted by a Plaintiff and their legal team to prepare an expert report on their case involving a mortgagor and a mortgage broker. The original Statement of Claim was filed in 2019, and they were scheduled to head to mediation within a month. (It only took them five plus years to seek an expert opinion.) After reviewing the documentation supplied to me, I could find no negligence nor damages. In reviewing my report with the legal team, I asked them to convince me otherwise. ...

Mortgage Renewal Options in 2025

Posted on November 12, 2024May 27, 2025 by Andy MacDonald

In Canada, approximately $352 billion in mortgages are projected to mature in 2025. Many of these will renew at significantly higher rates, which may cause a substantial increase in monthly payments for Canadian homeowners. If you’re among those renewing, now is the time to take action to minimize payment increases, balance your budget, and find a solution that fits your needs. Here’s how to get started: Start Planning Early Contact your lender 6–12 months before your mortgage term en...

What is a private mortgage?

Posted on November 4, 2024November 4, 2024 by Andy MacDonald

A private mortgage refers to a loan, secured by real property, provided by an individual or a private entity, rather than a traditional financial institution like a bank or credit union. Here are some key features: Lending Source The lender can be a private individual, a group of investors, or a private lending company like a MIC (Mortgage Investment Corporation). Terms and Conditions Private mortgages often have more flexible terms compared to traditional mortgages. They can v...