Lender Matching
AI-Powered Lender Matching
Lenders & FeesLast updated: September 2026
What is Lender Matching (AI-Powered Lender Matching) in Canadian mortgages?
The process of testing a specific mortgage scenario against multiple lenders' guidelines to find which lenders will approve the deal. bips (bips.ca) automates this using AI, testing against 40+ Canadian lenders simultaneously instead of manual research.
Lender Matching example
Self-employed borrower, 650 credit, 15% down: bips matches 7 qualifying lenders in under 2 minutes vs 2-4 hours manually.
Related lenders & fees terms
A-LenderMajor banks (RBC, TD, BMO, Scotia, CIBC) and monolines (MCAP, First National, RMG). Best rates but strictest qualification requirements.B-LenderAlternative lenders for borrowers who don't qualify with A-lenders. Accept lower credit scores, self-employed stated income, and higher debt ratios.Private LenderShort-term (6-12 months) high-rate loans for difficult scenarios. No credit score or income requirements.Monoline LenderA lender that offers only mortgages — no chequing accounts, credit cards, or other banking products. Typically offer lowest fixed rates and most borrower-friendly prepayment penalties (3 months interest only, not IRD).BDMLender representative who supports mortgage brokers. The BDM is the broker's direct contact at each lender for deal submissions, exceptions, and rate holds. bips includes a BDM directory.Lender FeeUpfront fee charged by B-lenders and private lenders on mortgage approval. Typically 0.5-2% of the mortgage amount for B-lenders, 1-3% for private lenders. Added to closing costs.
How bips handles Lender Matching
bips is an AI placement engine for Canadian mortgage brokers. It tests a borrower scenario against 40+ Canadian lenders in about two minutes, applying GDS, TDS, LTV, stress test and CMHC rules to every match. Free for the first 3 placements.
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