Neal and Ryan sit down with Yitz Levinson, President of Hillmount Capital, a Toronto-based private lender with over $400M under administration and 22 years in the business. Yitz shares how his background as a licensed insolvency trustee shaped the way Hillmount underwrites every deal: exit first, entry second. The conversation covers their unique MFT structure, how they flex across residential, commercial, and construction depending on market conditions, their approach to special situations and insolvency lending, and why Yitz is more focused on deal terms than competing on rate in today's aggressive market. If you want to understand how a sophisticated, long-running private lender thinks about capital preservation, risk, and the current economic climate, this is a must-listen.
Show Notes:
1:45 - From Accountant to Insolvency Trustee
3:23 - How Hillmount Was Founded
4:27 - The #1 Reason Deals Go Bad
5:56 - Hillmount's Lending Profile
7:21 - Construction Loans
8:12 - What Differentiates Hillmount
9:20 - Special Situation Lending
11:07 - Speed, Direct Lending & the HiLOC
12:30 - White Glove Service
14:54 - MFT vs. MIC
16:11 - Organic Investor Growth
17:59 - Staying Disciplined on Rate & LTV
18:15 - Preservation of Capital
19:09 - Concerns About Today's Market
21:49 - Tariffs, Recession & the Macro Picture
22:23 - Warning Signs on the Street
23:21 - Short-Term vs. Long-Term Loans
24:13 - Are We in a Recession?
25:33 - No Land Buying = Future Housing Shortage
26:06 - Regional Market Breakdown
28:06 - Bruised Credit Borrowers
28:45 - Working With Borrowers in Distress
30:14 - Mortgages Act Reform
31:45 - Concerns About New Products in the Market
32:46 - "We Underwrite the Story, Not the Box"
Resources:
Keystone Capital Group
CPLP Instagram: @cplpodcast
Keystone Instagram: @keycapgroup
Find Neal On:
Instagram: @neal.andreino
LinkedIn: Neal Andreino
Find Ryan on:
LinkedIn: Ryan MacNeil
E-mail: ryan@keycap.ca
