Frequently Asked Questions for Borrowers

1. What is the purpose of this service?

Fintech Nitro helps brokers collect financial documents such as T4 and NOA directly from the Canada Revenue Agency (CRA) on behalf of their clients. Mortgage brokers can automate both the income collection, and income verification process, leading to stress free and stronger loan applications for borrowers.

2. How do I know this service is legitimate?

Your broker initiates this process. We work closely with numerous brokers and strictly adhere to the privacy and data protection standards set by both federal regulations and the CRA.

3. Is my personal information safe?

Yes, your information is securely transmitted and temporarily stored. We employ state-of-the-art encryption and security practices to ensure your personal information remains confidential and protected. We do not retain personally identifiable information.

4. Why am I receiving an email and SMS from this service?

Your broker has created a pull request to obtain certain financial documents from the CRA on your behalf. The email and SMS are to guide you through the authorization process.

5. What do I need to provide for authorization?

You will be asked to provide your first name, last name, middle name, and Social Insurance Number (SIN) to complete the authorization form.

6. How does the authorization with CRA work?

Once you click on the link provided in the email or SMS, you'll be guided through a series of steps to grant authorization. This enables us to pull the required documents from the CRA database on behalf of your broker.

7. Can I revoke my authorization?

Yes, you can revoke your authorization at any time. If you wish to do so, please contact your broker or get in touch with us directly.

8. How long will you have access to my CRA documents?

The duration of our access to your CRA documents will depend on the terms set by your broker and the CRA. Typically, it's for a limited period, just enough to pull the required documents.

9. Will you use my information for any other purposes?

No. We only use your information for the specific purpose of obtaining the requested financial documents. We do not share or use your information for any other reason.

10. How will I know when my documents have been retrieved?

Once we have successfully pulled the requested documents, you and/or your broker will receive a notification. The specifics of this process may vary based on your broker's preferences.

11. What if I face issues while authorizing Fintech Nitro?

If you encounter any problems or have questions during the authorization process, please reach out to us through the contact details provided in the email/SMS or contact your broker directly.

12. Is there any fee involved for me as a client?

Typically, the broker covers the costs associated with this service. However, you should confirm any financial obligations with your broker directly.

Remember, your privacy and security are our top priorities. If you have any other questions or concerns, please don't hesitate to reach out.

Frequently Asked Questions for Brokers and Agents

1. What is Fintech Nitro?

With Fintech Nitro, you can automate income document collection and verify borrower incomes. Mortgage brokerages who use Fintech Nitro experience faster cycle times, winning back time, preventing fraud, and de-risking loan applications for borrowers.

2. How does it work?

Fintech Nitro collects financial documents such as T4 and NOA directly from the Canada Revenue Agency (CRA) on behalf of mortgage brokers. With just a few clicks, you can sit back while Fintech Nitro collects income documents from your clients, and verifies the information, ensuring your loan application rises to the top of the pile.

3. What is mortgage automation?

Mortgage automation is technology that allows mortgage brokers and their clients to follow prescribed workflows to make getting a mortgage easier. Mortgage automation allows mortgage brokers to focus on building relationships and win back time chasing down income documents, while providing a smooth customer experience for borrowers.

4. Other companies have tried to do this and failed. What makes you different?

We take great pride in clear communication with borrowers and their mortgage brokers, and only receive authorized representative status after collecting borrowers’ explicit consent.