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Underwriting

Mortgage underwriting and deal analysis software: Know how the deal will land before the lender does

Mortgage360's mortgage underwriting software is built for the broker's side of the desk. It qualifies the deal at the stress-test rate, shows which of your lenders it fits and why, and lists what will stall it, all from the same numbers, before you submit. It sits inside the origination workflow, next to the documents and conditions it depends on.

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The short answer

What does broker-side mortgage underwriting software do?

It answers the questions a lender will ask, earlier and on your own terms: do the ratios work at the qualifying rate, which lenders will take this profile, and what is missing from the file. Mortgage360 computes GDS and TDS, loan-to-value, the minimum down payment and the default-insurance premium from the deal's inputs, then scores your lender programs against the result and runs a readiness check. The lender's own adjudication is unchanged. You simply arrive at it with fewer surprises.

  • GDS and TDS at the qualifying rate: the greater of contract plus two points, or 5.25%.
  • Change price, down payment, income, rate or amortization and everything recomputes.
  • Lender programs scored on hard limits and fit, with the reasons shown.
  • A readiness check that separates missing data from genuine guideline conflicts.
  • Income read from a paystub, T4, NOA or employment letter, for you to confirm.
  • Scenarios saved, compared side by side, and shared with the borrower by link.
GDS / TDS
At the qualifying rate
Contract + 2 points, or 5.25%
5
Live levers
Price, down payment, income, rate, amortization
6
Readiness categories
Profile, income, ratios, documents, compliance, deal
Why
On every lender match
Reasons and caveats, not just a score
Qualification

Ratios computed the way a Canadian lender will compute them

Qualification runs at the higher of the contract rate plus two percentage points or 5.25%, which is the federal minimum qualifying rate. The same inputs produce GDS (housing costs against gross income) and TDS (housing plus every other debt), so you can see straight away whether it is the stress test that is limiting the deal. It follows the conventions brokers already use on worksheets: half of condo fees count toward housing costs, rental income is counted at 50%, and heating defaults to $100 a month unless you enter a figure. For a quick public version of the same maths, there is a free mortgage stress test calculator.

  • GDS and TDS from income, debts, property tax, heat and condo fees.
  • Loan-to-value from price and down payment, or appraised value and existing balance on a refinance.
  • Minimum down payment under the CMHC tiers, and the insurance premium when LTV is over 80%.
  • The maximum mortgage the income supports at the qualifying rate.
  • Missing inputs degrade gracefully: you get what can be computed, plus a note on what cannot.
What-if

Drag a number, watch the whole file move

In the brokerage underwriting workspace, the scenario modeler puts five levers on screen: purchase price, down payment, annual income, contract rate and amortization. Every change recomputes qualification, lender matches and readiness in one pass, and a snapshot of where you started shows exactly what each change did. When a lender drops out of the matches or a new one qualifies, you see it happen, which is usually the moment the conversation with the client gets specific.

  • Baseline snapshot with a live delta, so you can explain a change rather than just make it.
  • Save a scenario, load it later, and compare saved scenarios side by side.
  • Share a scenario with the borrower as a read-only link instead of a screenshot.
  • On the file itself, named scenarios compare payment, LTV and total interest over the term against the deal as it stands, with compounding and payment frequency set per scenario.
Readiness

A list of what will stall the file, with the fix next to each item

Most declines and most slow approvals are foreseeable. The readiness check runs a set of rules over the deal and sorts what it finds into profile, income, ratios, documents, compliance and deal. Each item says what is wrong and what to do about it. The overall status separates a file that is simply incomplete from one with a genuine guideline conflict, because “add the down payment” and “this LTV cannot be insured” are very different conversations.

  • Ratios over prime guidelines flagged: GDS over 39%, TDS over 44%.
  • LTV over 95% blocks the file; high-ratio deals are flagged for default insurance.
  • Compliance gates: FINTRAC identity verification and signed credit consent must be on file before submission.
  • Document gaps: no income documents, no down-payment source, expired documents, low checklist coverage.
  • Advisories for self-employed borrowers (T1 Generals and NOAs) and newcomers to Canada.
Lender matching

Which of your lenders will take this deal, and why

The matcher scores the lender programs your brokerage has set up against the qualified profile. Hard limits (minimum credit score, maximum LTV for the purpose, accepted property types and provinces, minimum income) remove a program outright. Softer signals such as preferred credit, niche fit and typical days to commitment rank what remains. For each program it picks the product that fits the requested term and rate type, and shows its effective rate after any discount. Every match comes with its reasons and its caveats, because a ranked list you cannot explain is not something you can defend to a client.

  • Up to a dozen matches, each with “why this lender” reasons and any tight-fit warnings.
  • A lender drawer with products, submission method, common conditions and criteria.
  • Your brokerage's own history with that lender: submissions, average days to commit, the conditions you actually got.
  • BDM contacts and internal notes kept with the lender, not in someone's inbox.
Income

Read the income from the document, then decide

Drop in a paystub, a T4, a Notice of Assessment or an employment letter, and the income fields are read out of it: gross pay and pay frequency from a paystub, line 15000 from an NOA, base, commission and bonus from an employment letter. The result is a proposal. You confirm it before it moves the income in the scenario, because the broker, not the software, answers to the lender for the income that was submitted. Document classification and identity checks across the whole file are handled by Harvey, the compliance AI.

  • Paystubs read across weekly, bi-weekly, semi-monthly and monthly frequencies.
  • T4 employment income and NOA total income.
  • Employment letters split into base, commission, bonus and start date.
Finn in underwriting

Ask about this file, and get an answer about this file

The underwriting workspace has a side panel for Finn, the agent copilot. It reads the current scenario, the lender matches and the readiness report, and answers questions about that file: why a lender dropped out, what would bring TDS under the cap. It is instructed to quote lenders, rules and numbers from that context and not to invent lender names or rates. When you are ready to submit, it can draft a submission package for the lender you picked, with a cover letter, executive summary, ratio breakdown and supporting documents list, which you edit before anything is sent.

  • Answers grounded in the scenario on screen, not general mortgage trivia.
  • Replies can be read aloud, for when your hands are on a call.
  • Submission package drafted from the file's facts, edited by you before export.
What it is not

Broker-side underwriting, not the lender's decision

Nothing here approves a mortgage. The lender adjudicates, as it always has; this tells you where the deal will fly and where it will struggle before you send it. The matches are only as good as the lender programs your brokerage keeps current, and the rates are the ones you enter, not a feed.

It is also not a separate tool you re-key into. The inputs come from the application, and moving a file to underwriting is an event an automation can act on, for example to assign a reviewer or tell the client what happens next. Everything before that point, from the lead to the conditions, lives in the mortgage CRM and the origination file. Brokerages running several agents through one underwriting desk will find the plan details on brokerage pricing.

Underwriting — common questions

Does Mortgage360 calculate GDS and TDS?
Yes, on the deal itself, from the income, debts and property costs already on the record rather than from a separate spreadsheet. The inputs behind every ratio are stored with the result, so an underwriting decision can be re-examined months later.
How does it handle the stress test?
Qualification runs at the federal minimum qualifying rate as well as the contract rate, and both figures are shown side by side, so you can see immediately whether the stress test is what is limiting the deal.
Can it underwrite business-for-self income?
Yes. Self-employed is its own income type on the deal, with operating-as, gross revenue and industry captured. Where self-employment lines are on file, the deal shows the two- and three-year averages, the trend and a suggested qualifying income. Itemised add-back capture on the agent deal is still to come.
Is the AI decision explainable?
The stress-test explanation is worked out from the figures on the deal — qualifying rate, GDS, TDS, income and debts — so each statement traces to a number you can see. It is not stored separately; a saved underwriting scenario keeps its inputs and the lender-match results exactly as shown.
Does it replace the lender's underwriting?
No. It is broker-side underwriting — it tells you which deals will fly and where they will struggle before you submit. The lender's own adjudication is unchanged.
Can I compare scenarios side by side?
Yes. Rate, term, amortization, down payment and product can be varied across scenarios and compared in one view, so the conversation with a client is about a comparison rather than a sequence of recalculations.

Keep reading

Origination

The application, documents and conditions underwriting reads from.

Automations

Act on a file going under review, conditions issued or an approval.

Finn

The agent copilot, including the underwriting panel.

Harvey

Document classification, ID checks and FINTRAC records.

Debt-to-income calculator

The public version of the GDS and TDS maths.

Brokerage pricing

What each plan includes.

Ready when you are

Run one of your own files through it

Bring a deal you found hard to place. We will qualify it, match it and show you what the readiness check flags.

Book a demoSee pricing