WiiBid is the first auction mortgage market for lending in Canada. WiiBid exposes anonymized applications simultaneously to multiple lenders. Through a competitive bidding process, applications receive multiple bids and terms.

This will save brokers, borrowers and lenders significant time and energy. The staff at WiiBid perform a detailed screening on each and every application, so our lenders are confident about the quality of the leads and therefore confidently price their tailored offers.

Our platform is designed with brokers in mind. Simply, register, create a profile, and invite your clients to complete their applications online. WiiBid allows you to set your fee upfront and the platform automatically includes your fee in the commitment letters, ensuring your hard work is appropriately rewarded.

Once an application enters auction, lenders begin bidding, and you can help them understand each aspect of their customized  lender offers. Once an offer is selected, an automatically generated Letter of Intent is produced which features your Brokerage Logo, outlining the details of their application and mortgage offer, as well as terms set by the lender. As part of the underwriting process, all documents are exchanged via our secured portal, once you upload information to a client file you can access it time and again as needed.

These features combined enable you to secure your customers’ funding in as little as three days; this is an up to 75% faster turnover time compared to traditional methods!

The security and protection of highly sensitive mortgage data is increasingly front and center when it comes to client relations. Let’s face it, regardless of what system is used to send applications to lenders, receiving documents and information from clients via email is not the most secure way of handling client data, and data breaches can not only expose consumers personal information, but potentially be a source of liability for the broker. Hacks will happen, so outsource your security to our highly secure platform at WiiBid so you can squarely focus on generating more business. a leak of client data can be costly. So much so, that the average data breach in Canada in 2020 cost companies around $6.35 Million.

This is why WiiBid has become an essential tool for mortgage brokers, seeing as it adds a much-needed extra layer of security. Our platform protects your clients’ data by eliminating the need for email entirely; your client simply uploads the files directly to the platform, where only you and themselves have access to it. Within our system architecture, every file upload is automatically encrypted, and data is stored in an encrypted blob storage system.

Moreover, our growing network consists of well-known institutional lenders as well a private investors and syndicators and therefore you can access more choices, faster for your clients.  WiiBid only allows 72 hours for lenders to provide their bids, streamlining and expediting the results.

Spend less time filling out applications and more time on your business. By introducing clients to WiiBid, information sharing, document exchanges, and all other communication happens through a single secured and encrypted platform. No more applications flying around by unsecured and hack-prone emails. Clients enter their own data and control their own documents. You can simply manage negotiation with lenders and focus on generating more leads for your business. Your clients will appreciate your proactive approach to data security and benefit from the lowest rates selected by you through our innovative auction process.

For a limited time, WiiBid does not add any fees for our broker partners. You can rest assured that your clients are not facing any additional expenses by using WiiBid. Your relationship with your clients remains intact and you can take advantage of the automation, security, and our exceptional lending marketplace.