*Article from CMP Magazine
Author: Mallory Hendry
In the sea of alternative lending, a new wave has rolled in and it’s one worth watching. As it approaches its third year, Glasslake Funding isn’t settling for the impressive milestones it has already achieved, including significant AUM in just two years. Built from the ground-up as a human-first lender that prioritizes communication, simple processes, and personalized mortgage solutions, Glasslake Funding is here to chart its own course.
From its funding capacity to its risk appetite, brand DNA, and energetic spirit, “Glasslake is just built differently,” said Ruvani Henriques, VP strategy, sales and marketing.
“We’re not what most expect. At times we’ve run into the challenge of explaining where we play,” she continued. “We’re not your typical private lender. Our institutional funding separates us. You’ll notice increased client buying power with no stress test, longer terms and amortization, higher LTVs, simplified proof of income, lower penalties, and competitive broker compensation. We like to say that we’re in a lane of our own — and we typically suggest that brokers think of Glasslake before going to other private solutions.”
Glasslake Funding: The new wave of lending
The sights are firmly set on what’s next as the lender propels forward in its mission to reach its niche audience of non-bank seasoned investors and self-employed clients in Ontario, Alberta and British Columbia. They support owner-occupied properties, with a special focus on rental properties including, unique property types like cottages and even Airbnb’s. They are set on upcoming regional expansions to Quebec and Manitoba in the coming year too with heavy focus on commercial lending.
Glasslake has never been one for “just getting started” vibes. The lender hit the ground running in 2024 with operations in Ontario, British Columbia and Alberta supporting customers in both primary and secondary markets. They led with their Glasslake Product Collection, a versatile lending solution for purchases and refinances on owner occupied and investment properties both commercial and residential with a multitude of uses and asset classes.
At its core, Glasslake takes pride in helping Canadians achieve their goals, particularly those who may have narrowly missed the B-20 qualification with regulated lenders. Catering to the likes of investors with experience, entrepreneurs building their empires, and commercial property professionals with their eye on expansion, Glasslake offers flexible terms and amortizations for up to 40 years, capable of lending anywhere from $200,000 to $5 million — or beyond, if that’s what it takes.
Prioritizing what brokers need from lenders not the other way around
Glasslake is all-in with its broker partners, touting the trifecta of shared values, simplicity, and reliability. Calling like-minded brokers who aren’t looking for a check-the-box lender but one who prioritizes human interaction and a collaborative approach, Glasslake brings to the table a backend that unites sales and underwriting for a single truth, straightforward processing, and funding that provides peace of mind.
The company also believes in giving back to its brokers. Top performing broker owner Anthony Contento, CEO for Sherwood Mortgage Group, attended Glasslake’s first “Luxperience”, a top broker reward trip in Mexico, in late November. Afterward, he reflection on the company and his partnership with it.
“Starting a company from the ground up is never easy, but Glasslake has shown from the very beginning that they are committed to doing it right and listening to their customers, while filling the void in the current lending market,” Contento said. “I’m grateful to have been part of the beginning of your journey, and I promise to do everything I can to ensure your story is shared with my team — highlighting your products, services, and the professionalism your leadership team displays.”
Fueled by feedback like Contento’s, Glasslake serves the mantra “There are deals to be made today.” Working shoulder-to-shoulder with brokers to swiftly gather the necessary client details and move fast to commit on deals, rush closings are a specialty — and a coup for brokers. Along with the same-day commitment, the lender provides an exciting finder’s fee up to 100 bps that distinguishes them from other players in the private segment.
Turning industry standard on its head, Glasslake does away with pitching products. Circling back again to its human-first standard, the lender lives by the saying “Conversations over Presentations.” And not only does Glasslake listen, it acts: those conversations feed business plans and strategies, prioritizing what brokers need from lenders and not the other way around.
What’s on the horizon for Glasslake Funding in 2025?
What’s next for Glasslake as 2024 comes to an end? More of the same — but even better, to sum it up. Doubling down on broker relationships, the lender is launching a Broker Rewards program – “Wavemakers – Glasslake’s Million-a-Month Rewards Program” in January of 2025. The agent rewards program will offer immediate rewards for ongoing partnership, and more details will roll out soon!
Providing affordable and accessible funding solutions for non-bank clients in primary and secondary markets continues to be paramount. Looking at the challenges of the market, diversifying their portfolios remains a top priority for brokers and it’s something Glasslake whole-heartedly supports. Ultimately, a new year means new opportunities to optimize business and experience another banner 12 months.
“At Glasslake, we’ve built something truly special, and I’m proud of our team, broker partners, and our service providers who have helped build this amazing operation in just 2 years,” said Mike Forshee, president and managing director. “The growth we’ve experienced comes down to our deep understanding of market fundamentals, dedication, commitment, and the ability to build relationships that go beyond a single transaction. We’re here not only to bridge the gap in the alternative lending space, but to also deliver sustainable funding and diversification, regardless of the segment. So, if you haven’t heard of Glasslake yet, trust us — 2025 is the year to watch.”
There’s more to be said about Glasslake Funding — where it comes from, where it’s been, and where it’s going — but why don’t you see for yourself. Experience the “UP-UP Philosophy,” or Underwriters Pick Up Phones, and reach out today. Because when brokers call, Glasslake answers.
