Case study
A brokerage network cuts mortgage file preparation time by 15x
15 offices, 5 partner lenders, 400 files per month: this GTA network eliminated document back-and-forth with its lending partners.
Context
Industry
Mortgage brokerage (15-office network, Greater Toronto Area)
Volume
400+ mortgage files per month
Partner lenders
RBC, TD, BMO, Scotiabank, CMHC-insured lenders
Team
15 brokers + 4 back-office staff
The problem
Each partner lender requires a different document set, with formats and eligibility criteria that change regularly. The back-office was drowning in follow-ups.
- 45 minutes on average to check a mortgage file's completeness
- Back-and-forth with borrowers for missing or unreadable documents
- Each lender imposes its own criteria: RBC ≠ TD ≠ Scotiabank
- Lender processing times extended by incomplete files
- Overwhelmed back-office, frustrated brokers, impatient clients
The solution
CheckFile.ai checks each mortgage file in real time against the specific requirements of the target lender, before submission.
- Validation rules mapped to each partner lender's requirements
- Pre-submission checks: completeness, readability, validity dates
- Compliance report generated for broker and client
- Integration with the brokerage network's internal CRM
The results
45→3 min
per mortgage file
Verification cut from 45 to 3 minutes
-70%
document back-and-forth
Client follow-ups dropped by 70%
-40%
lender acceptance delay
Complete files = faster processing
98%
first-submission completeness
Nearly all files compliant on first send
“Our brokers spent more time chasing documents than advising clients. With CheckFile, the file goes out complete or doesn't go at all. The lenders thank us for it.”
Director of Operations
Mortgage brokerage network, Greater Toronto Area