Anna Kutepov

AI tools can review borrower documents, income, consent checks, discrepancies, and underwriter summaries in minutes, turning mortgage approvals into faster experiences for Canadians.
As applications get easier, Canadians may shop more lenders, compare firm approvals, and negotiate rates with greater confidence before committing to a deal.
Once instant approvals become common, speed may stop being a differentiator; open banking, payroll links, and tax verification could accelerate decisions further.
Non-standard borrowers, including self-employed, gig, commission, and new-to-Canada applicants, could benefit if AI models use alternative data more effectively in underwriting decisions.
Human advice remains important where property due diligence, complex files, product comparisons, negotiation, or contract risks need careful review beyond automation for borrowers.

Canada Mortgages Enter Faster AI Era

A provincial financial institution originated a record $5.6B in new residential mortgages in fiscal 2026, signaling strong Alberta home-financing activity for local clients.
Mortgage retention stayed high, with 95% of maturing clients renewing within the institution’s personal banking and residential mortgage division across Alberta during fiscal 2026.
Total revenue reached $2.5B, ↑~15% yearly. Net income hit $542.9M, ↑~56%, while net loans surpassed $61.2B, ↑~13% yearly at the Alberta-based institution.
The mortgage book helped drive personal banking gains, showing how Alberta home financing supported stronger retail banking results during fiscal 2026 overall.
Management said prudent financial practices left the institution well-positioned now to support Albertans buying homes or renewing mortgages through any market cycle.