
Episode #25
Private Lending in 2026: Competition, Credit, and Capital with Nema Daghbandan
In this episode of The Hustle Harder Show, James Gaskin sits down with Nema Daghbandan, CEO of Lightning Docs and partner at Fortress Law, to examine the private lending market through the first half of 2026. They discuss intense competition among lenders, changing RTL and DSCR volumes, rising leverage, pressure on rates, and loan performance. They also address the Kiavi-Figure transaction, potential industry consolidation, geopolitical volatility, and how AI is beginning to reshape private lending and business operations. Timestamps: 0:00 – Intro and welcoming Nema Daghbandan 01:35 – Nema Daghbandan’s background and Lightning Docs 02:18 – Why competition among private lenders has intensified 05:09 – What the data says about RTL loan volume in 2026 11:47 – How access to borrower data is changing lender competition 16:03 – Building a differentiated lending model 17:00 – Credit discipline in an increasingly competitive market 20:25 – Why leverage can matter more than interest rate to borrowers 21:33 – Rising leverage and the risks it creates for lenders 25:10 – RTL and DSCR interest rate trends 30:23 – Pressure from rates, taxes, insurance, and rental markets 33:32 – Balance-sheet lenders vs. institutional approaches to risk 37:21 – What foreclosure data says about loan performance 41:02 – Delinquencies, securitizations, and increased loan-buyer scrutiny 46:17 – Breaking down the Kiavi-Figure transaction 52:07 – What could shape private lending in the second half of 2026 53:42 – Why strong underwriting fundamentals still matter 57:38 – The outlook for further industry consolidation 1:00:01 – How AI is beginning to reshape private lending businesses 1:03:12 – What to expect at the upcoming Fortra Law event Links Nema Daghbandan on LinkedIn - https://www.linkedin.com/in/nemadaghbandan Lightning Docs - https://lightningdocs.ai/ Renovo Financial - https://renovofinancial.com/ James Gaskin on LinkedIn - https://www.linkedin.com/in/james-gaskin-b675593/






