Private Lending Insights

In Episode 34 of Private Lending Insights, Rocky Butani interviews Aleksandra Simanovsky, founder of Adige Asset Advisory, to talk about the RTL securitization market and how securitizations work, including loan pooling, bond investors, cash flow waterfalls, funding costs, the economics of securitization versus whole loan sales, why securitizations can provide lenders with greater funding flexibility and much more. The conversation also covers capital market conditions in 2026, institutional investor demand for RTL bonds, the potential return of multifamily lending to securitization markets, and recent industry acquisitions.

Visit Adige's profile on PrivateLenderLink.com to learn more about their services and...

Rocky Butani interviews Boris Dorfman, fund manager and partner at LBC Capital, about the state of private lending and real estate investing in 2026. The conversation explores why transaction volume has slowed in 2026, how elevated interest rates are affecting residential and commercial real estate, and how private lenders are adapting their underwriting and lending strategies. They also discuss LBC Capital’s lending activity in 2026, geographic expansion beyond California, leverage and credit requirements, construction completion financing, second mortgages, and the evolution of the company and its mortgage fund.

Visit LBC Capital's profile on PrivateLenderLink.com to learn more and to...

Rocky Butani interviews Nema Daghbandan, CEO of Lightning Docs and Partner at Fortra Law, for a data-driven look at the private lending market in 2026. Nema shares what Lightning Docs is seeing across more than 300 lender clients, including trends in RTL and DSCR loan volume, interest rates, competition, foreclosures, and fraud. They also discuss the Figure acquisition of Kiavi, how AI is changing lending technology and legal workflows, and Lightning Docs’ recent milestone of surpassing $100 billion in loan originations.

Visit Lightning Docs' profile on PrivateLenderLink.com to learn more and to contact them: 
https://privatelenderlink.com/profile/lig...

In this episode of Private Lending Insights, Rocky Butani interviews Jeff Tesch, CEO of RCN Capital, one of the nation’s largest private lenders and a leading wholesale lender serving mortgage brokers. Jeff shares RCN’s outlook on the private lending market, the states seeing the strongest lending activity, and why ground-up construction continues to be one of the biggest opportunities for investors. The conversation also covers RCN’s new Structured Finance Group, capital markets, portfolio lending, and trends shaping residential investment lending in 2026.

Learn about RCN's White Label Wholesale program: https://privatelenderlink.com/profile/rcn-capital-correspondent/

This...

In this episode of Private Lending Insights, Rocky Butani interviews Kirill Bensonoff, CEO and founder of New Silver, a technology-driven private lender based in Connecticut. Kirill shares how New Silver evolved from building loan origination software into a nationwide private lender funding fix & flip, ground-up construction, and DSCR loans. 

The conversation covers lending trends, AI and automation, New Silver's proprietary technology, and its growing white label program for brokers and lenders. They also discuss where the private lending industry is headed as AI transforms underwriting, borrower interactions, and loan origination.

Visit New Silver's profile on P...

Rocky Butani interviews Kevin Kim, Partner at Fortra Law and one of the leading securities attorneys advising private lenders and mortgage fund managers. We discussed rising defaults, increasing competition, and key risks facing private lenders in 2026. We also talk about a mortgage fund in Northern California that recently collapsed, what investors should look for, and why transparency, third-party administration, and audited financials are becoming essential. Kevin shares insights on distressed debt opportunities and how lenders are adapting as the market evolves.

Visit Fortra Law's profile on PrivateLenderLink.com to learn more and to contact them: https...

Rocky Butani interviews Shafiq Taymuree from Stonecrest Financial, a California-based private lending firm with nearly $300 million in annual loan originations. They talked about Stonecrest’s unique lending programs, including consumer bridge loans that allow homeowners to buy a new property before selling their existing home, as well as a revolving line of credit program used by real estate investors and business owners. The conversation also covers specific guidelines for the 2 programs, California lending trends, and the company’s capital model that has supported their private lending operations for decades.

Visit Stonecrest's profile on PrivateLenderLink.com...

Rocky Butani talks with Robert “Alex” Baker and Kent Liggitt from Coastal Equity Group, a direct private lending firm based in Charleston, South Carolina. They discuss Coastal Equity’s rapid growth, closing over $200M in annual loan volume (mostly ground-up construction), trends they are seeing, capital markets, their lending guidelines, and the Southeast markets seeing the most development activity. 

Visit Coastal Equity's profile on PrivateLenderLink.com to learn more and to contact them: https://privatelenderlink.com/profile/coastal-equity-group/?utm_source=lender-link-podcast

This interview is Episode #27 of the Private Lending Insight...

Rocky Butani talks with Christian Faes, CEO of F2 Finance, LLC. Christian shares his journey from founding and scaling a multi-billion-dollar U.K. lending platform (LendInvest) to launching F2 Finance in the United States. The conversation covers F2’s balance sheet lending model, bridge loan guidelines, land and commercial deal appetite, state-by-state strategy, and how they compete in a highly competitive private lending market. We also dive into F2’s capital structure, fund model, foreclosure philosophy, and what Christian sees ahead for private lending in 2026.

Visit F2's profile on PrivateLenderLink.com to learn more and to cont...

Rocky Butani interviews Melissa Martorella, Esq., Partner at Fortra Law, for a deep dive into wholesale capital structures in private lending.

Melissa breaks down the legal and compliance considerations behind wholesale lending, white labeling, table funding, and correspondent lending, with a focus on residential transition loans (aka hard money). The conversation covers state licensing requirements, borrower disclosures, liability risks, and how lenders and brokers can structure their businesses correctly while scaling nationwide.

This episode is essential listening for private lenders, brokers, capital providers and others navigating wholesale lending models.

Visit Fortra Law's...

Rocky Butani talks with Bryan Ziegenfuse and Chris Tereo, Co-Founders of i Fund Cities, a national private lender based in Philadelphia. They discuss the company’s impressive 2025 growth, funding close to $900 million in private loans, their boots-on-the-ground expansion strategy, and trends in construction, fix & flip, and DSCR lending. The conversation also covers market forecasts for 2026, delinquency trends, loan program details, and i Fund Cities’ approach to capital markets and customer experience.

Visit iFC's profile on PrivateLenderLink.com to learn more and to contact them: https://privatelenderlink.com/profile/ifundcities/?utm_source=lender-link-podcast

This interview is Epis...

In this episode of Private Lending Insights, Rocky Butani interviews Nema Daghbandan, Esq., CEO of Lightning Docs and Partner at Fortra Law. They discuss nationwide trends in private lending interest rates, loan volume, and market dynamics for both bridge and DSCR loans — based on real data from thousands of transactions each month on the Lightning Docs platform. Nema breaks down rate movements across major states, explains why competition is intensifying, the rapid rise in DSCR loan volume, the evolution of securitizations, and what’s next for private lending in 2026.

Visit Lightning Doc's profile on PrivateLenderLink.com to lear...

Rocky Butani interviewed Jon Hornik, Managing Partner of Private Lender Law and President of the National Private Lenders Association (NPLA), to discuss the Baltimore DSCR fraud scheme that shook the private lending industry in 2025, affecting dozens of lenders and millions in loans. Jon explains how the scheme worked, who was impacted, and what the NPLA is doing to fight fraud and protect lenders — including a new watchlist database for bad actors and updated valuation best practices for DSCR loans.

Visit Private Lender Law’ profile on PrivateLenderLink.com to learn more and to contact them: 
https://privatelenderlink.com/p...

Rocky Butani talks with Wesley Carpenter, Co-Founder and Partner at Stormfield Capital, a Connecticut-based private lender and debt fund manager with $750MM AUM. Wes discusses the 2025 market outlook, the state of bridge lending, and how Stormfield serves investors across the East Coast. He shares insights on loan volume, underwriting discipline, the company’s capital structure, and its plans to expand beyond the Northeast.

Visit Stormfield's profile on PrivateLenderLink.com to learn more and to contact them: https://privatelenderlink.com/profile/stormfield-capital/?utm_source=lender-link-podcast

This interview is Episode #21 of the Private Lending Insights Podcast: https://po...

Rocky Butani interviewed Paul Jackson, President & CEO of Residential Capital Partners, one of the few private lenders offering 100% financing for residential & multifamily rehab projects nationwide. Paul shares his insights on the real estate market, ground-up construction trends, and how ResCap has maintained steady lending volumes for 16+ years. Learn all about their loan program, borrower requirements, interest rates, fees, and much more.

Visit ResCap's profile on PrivateLenderLink.com to learn more and to contact them: https://privatelenderlink.com/profile/residential-capital-partners/?utm_source=lender-link-podcast

This interview is Episode #20 of the Private Lending Insights Podcast: https://podcast.privatelenderlink...

Rocky Butani interviews Anthony Geraci, founder of the newly re-launched Geraci Law Firm and a long-time leader in the private lending space. Anthony discusses his recent split from the firm he originally built, his continued focus on supporting private lenders, and his vision for the future of the industry. Anthony shares his perspective on major trends shaping the industry — from the rise of capital markets and securitization, to the growing demand for 50-state lending and alternative credit strategies. He also reflects on his entrepreneurial journey, the future of conferences in the space, and how private lenders can stay competitive in...

Rocky Butani interviews Vance Hillstrom, CEO of Rubicon Mortgage Fund, for a wide-ranging discussion on California’s evolving real estate market, Rubicon’s conservative lending philosophy, and what it takes to survive and thrive in today’s private lending landscape. Rubicon has been originating bridge loans for nearly 20 years, funding deals exclusively with capital from its $150 million discretionary mortgage fund. While the firm started by focusing on the Bay Area, its lending footprint now spans the entire state of California, including a growing appetite for Southern California.

Visit Rubicon's profile on PrivateLenderLink.com to learn...

Rocky Butani interviews Dave Orloff, CEO of American Heritage Lending for an in-depth discussion on DSCR (Debt Service Coverage Ratio) loans. They explore current market trends in mid-2025, interest rate volatility, updated loan guidelines, and what makes AHL’s DSCR program stand out — including high LTV options, 40-year loan terms, fee stacking, and their approach to short-term rentals and multifamily properties. Whether you're a broker, investor, or lender, this episode offers practical insights into one of the most popular loan products in private mortgage lending today.

Visit American Heritage Lending's profile on PrivateLenderLink.com to learn more and...

Yieldi's principals, Joe Ashkouti and Josh Lloyd, spoke with Rocky Butani to talk about bridge loans for commercial and residential investment properties, their lending guidelines, the company's unique capital structure, and more. 

Visit Yieldi's profile on PrivateLenderLink.com to learn more and to contact them: 

https://privatelenderlink.com/profile/yieldi/?utm_source=lender-link-podcast

This interview is Episode #16 of the Private Lending Insights Podcast: https://podcast.privatelenderlink.com/

00:00 Welcome and Intro   

00:40 Market Trends 2025   

01:45 Company Growth   

03:00 Land Loan Demand   

04:30 Market Ins...

Solomon Suleymanov, Partner and Director of Originations at We Lend LLC, spoke with Rocky Butani to talk about private/hard money lending in the New York City metro area. 

Visit We Lend’s profile on PrivateLenderLink.com to learn more and to contact them: 

https://privatelenderlink.com/profile/we-lend-llc/?utm_source=lender-link-podcast

This interview is Episode #15 of the Private Lending Insights Podcast: https://podcast.privatelenderlink.com/

00:00 Intro 

01:06 NYC Market Overview 

02:12 Rehab and Conversion Trends 

03:55 Deal Example 

05:52 Why Convert...

Jack Miller, President of Gelt Financial, spoke with Rocky Butani to talk about hard money loans for small commercial properties, their unique lending guidelines, the company's long history, and more. 

Visit Gelt’s profile on PrivateLenderLink.com to learn more and to contact them: 

https://privatelenderlink.com/profile/gelt-financial/?utm_source=lender-link-podcast

This interview is Episode #14 of the Private Lending Insights Podcast: https://podcast.privatelenderlink.com/

Check out Gelt Financial’s YouTube channel for educational content about hard money lending: https://www.youtub...

Briana Hildt, Co-Founder and CEO of Cardinal Capital Group, shared some insights about private lending in New England, the state of the market, their lending guidelines, the company's growth over the past few years, and nuggets about each of the different metro areas in the region.

Visit Cardinal's profile on PrivateLenderLink.com to learn more and to contact them: 

https://privatelenderlink.com/profile/cardinal-capital-group/?utm_source=lender-link-podcast

Connect with Briana on LinkedIn: https://www.linkedin.com/in/briana-hildt/

This interview is Episode #13 o...

Jon Hornik spoke with Rocky Butani to share his thoughts on the trade war’s impact on the private lending industry as of late April 2025. He also shared insights about the National Private Lenders Association (NPLA). Hornik serves as the Founder, Executive Director, and General Counsel of the NPLA. In addition, Hornik is the Managing Partner and Chair of the Private Lender Law Group at LaRocca Hornik Greenberg Kittredge Carlin & McPartland LLP. His firm represents over 100 nationwide lenders, originators, and investors, including top Wall Street banks and private equity firms.​ Jon Hornik is also the Mayor of Marlboro Township, New...

Andres Saias, Chief Lending Officer at RBI Private Lending, spoke with Rocky Butani to share some insights about their growth in the past few years, their national expansion, and what's happening in Florida. 

Visit RBI's profile on PrivateLenderLink.com to learn more and to contact them: 

https://privatelenderlink.com/profile/rbi-mortgages/?utm_source=lender-link-podcast

Connect with Andres on LinkedIn: https://www.linkedin.com/in/andres-saias-22b04a97/

This interview is Episode #11 of the Private Lending Insights Podcast: https://podcast.privatelenderlink.com/

00:00 Intro and Gu...

Kevin Kim, securities attorney and partner at Fortra Law, spoke with Rocky Butani to share some insights about private mortgage funds and the secondary market for private lending in early 2025. Kevin specializes in fund formation and has assisted tons of private lending companies with securities and capital raising legal matters.

Visit Fortra's profile on PrivateLenderLink.com to learn more and to contact them: 

https://privatelenderlink.com/profile/fortra-law/?utm_source=lender-link-podcast

Connect with Kevin Kim on LinkedIn: https://www.linkedin.com/in/kevinkimesq/

Charlie Einsman, Co-Founder of Clear Sky Financial spoke with Rocky Butani to share some insights about real estate investing and lending in the DMV region (DC, Maryland, Virginia). Find out what's happening with real estate in each of the 3 states (2025 Q1), learn about Clear Sky's unique lending program for real estate investors, and more.

Visit Clear Sky's profile on PrivateLenderLink.com to learn more and to contact them: 

https://privatelenderlink.com/profile/clear-sky-financial/?utm_source=lender-link-podcast

This interview is Episode #9 of the Private Lending Insights Podcast: https://p...

Jeff Tesch, CEO of RCN Capital spoke with Rocky Butani to share some insights about a variety of topics in private lending: 2024 loan volume, interest rates, insurance challenges, multifamily financing, 2025 predictions, RCN's wholesale program and more. RCN is mostly a wholesale lender serving loan originators, and they have a small retail division which is around 15% of their total loan volume. Around 75% of their lending is DSCR long-term rental loans and 25% is bridge loans, including fix & flip and ground-up construction.

Visit RCN's profile on PrivateLenderLink.com to learn more and to contact them: 

h...

Rocky Butani provides a report about private lending and Lender Link: thoughts about 2024, predictions for 2025, updates on our podcast, a few new lenders that were recently added to PrivateLenderLink.com, our new AI project and industry conferences. 

Visit this page on our website to see a list of all the private lending conferences in 2025: https://pllk.io/evpl.

In the 6th episode of the Private Lending Insights Podcast, Rocky Butani interviewed Marc Rouda and Alexis Rouda from Security Financial Services to learn all about private lending in Northern California. They talked about their loan program, Bay Area private money trends, tenants in common deals in San Francisco and more. The company was established in 1943 and is based in San Francisco.

Visit Security Financial Services’ profile on PrivateLenderLink.com to learn more and to contact them: 

https://privatelenderlink.com/profile/security-financial-services/?utm_source=lender-link-podcast

Connect with Mar...

In the 5th episode of the Private Lending Insights podcast, Rocky Butani interviewed Jeremiah Wiedman and Erik Brown from Center Street Lending to learn all about ground-up construction for residential investment properties and small multifamily properties throughout the United States. We talk about trends in 2024-2025, requirements to get a loan, the pricing structure, costs, draw process, ADU building and additions in California and more.

Visit Center Street's profile on PrivateLenderLink.com to learn more and to contact them: 

https://privatelenderlink.com/profile/center-street-lending/?utm_source=lender-link-podcast

Connect with Jeremiah W...

In the 4th episode of the Private Lending Insights podcast, Rocky Butani interviewed John Santilli from Rehab Financial Group to learn all about their 100% financing loan program for residential real estate investors. We go in-depth to cover all the requirements, the pricing structure, costs, draw process and much more.

Visit RFG's profile on PrivateLenderLink.com to learn more and to contact them: 

https://privatelenderlink.com/profile/rehab-financial-group/?utm_source=lender-link-podcast

As of January 2025, Rehab Financial Group lends in 18 states: AL, CT, DE, FL, GA, IN, KY, MA, MD, MO, NC, N...

Rocky Butani interviewed Jennifer Young, Partner at Fortra Law, to learn which states require a licensed to originate private mortgages (aka hard money loans) secured by investment real estate. Fortra Law is the largest law firm in the United States for private lending and offers a variety of legal services - compliance, licensing, securities law, fund formation, loan documents, litigation and more.

Visit Fortra's profile on PrivateLenderLink.com to learn more about their services: 
https://privatelenderlink.com/profile/fortra-law/?utm_source=lender-link-podcast

00:00 Intro 

00:40 Guest Intro 

01:20 Why Licensing Matters 

02:00 Stat...

Rocky Butani interviewed Dave Orloff, CEO of American Heritage Lending, a national direct private lending company based in Irvine, California. They offer a variety of financing options to residential real estate investors in 45 states: DSCR 30-year rental loans, fix & flip, ground-up construction and short-term bridge loans. The company has grown immensely in the past 2 years and is now one of the top 10 lenders in the United States in terms of loan volume. Learn about the company's recent growth, their operation and Dave's thoughts on private lending for 2025.

Visit American Heritage Lending's profile on PrivateLenderLink.com to learn...

In the first episode of Private Lending Insights, Rocky Butani, provides an introduction and overview of the podcast, which is hosted by Lender Link. We operate PrivateLenderLink.com, a website were real estate investors and mortgage brokers find direct private lending companies (aka hard money lenders) throughout the United States.