The mortgage trade has waited years for a workable CRA verification answer, and Newton has now delivered one with a brand new service that retrieves paperwork in below 48 hours
On Monday, Dominion Lending Centres–owned know-how supplier Newton Connectivity Programs will launch VerifyCRA by a delegated microsite, with plans to combine it into the Velocity platform early within the new 12 months. The service shall be obtainable to all mortgage brokers, not simply these throughout the DLC community.
Brokers solely must enter the consumer’s first and final identify, social insurance coverage quantity, e mail deal with, telephone quantity and line 15000 from their most up-to-date tax return. If that info is appropriate, they’ll obtain two years of the consumer’s Discover of Assessments, tax slips, revenue statements, a press release of account and Canada youngster profit info in below 48 hours.
“Christmas got here early,” says Newton’s Vice President of Dealer Expertise, Kate Henderson. “You present that one line 15000, and we will accumulate the entire documentation from the CRA in your behalf.”
A fast repair to a longstanding drawback
CRA doc verification is usually the slowest and most tedious a part of the mortgage utility course of.
It typically requires brokers to ask purchasers to seek out, scan and ship the precise paperwork manually. If purchasers don’t have these paperwork available, or haven’t already register for an internet CRA account, they could want to enroll and look ahead to a safety code to reach by mail.
Business stakeholders, together with Mortgage Professionals Canada, have been urging the federal authorities and the CRA to create a direct verification pathway for lenders and brokers. Finances 2024 acknowledged the necessity and stated the CRA would discover potential choices, however little has moved ahead since. In July, the CRA launched findings from its trade session confirming broad help for a safe, real-time digital software, however no timeline for implementation was offered.
“We knew that there was all the time a bottleneck within the trade when it comes to having the ability to accumulate CRA documentation,” Henderson says. “The entire course of is absolutely time consuming, and we wished to remove the time that it takes and simply make it a lot simpler for the consumer themselves.”
The guide method that brokers sometimes must take can be much less safe, as paperwork usually are not being offered straight from their supply. “That is actually about compliance and anti-fraud, which it’s a must to have your eye on on a regular basis on this trade,” provides Henderson.
How the approved consultant mannequin works
Others have tried to supply a direct manner for brokers to entry buyer CRA documentation over time, however none have confirmed sustainable.
Such options used what the CRA refers to as “EFILE Authorization,” a pathway that was initially created for accounts submitting taxes on behalf of their purchasers.
As a substitute, Newton partnered with Fastkey, which accesses buyer CRA accounts as an “approved consultant.” That standing permits the corporate to view and obtain — however not submit or edit — buyer paperwork straight by the CRA.
“They have been utilizing a pathway which was by no means meant for that utilization, and ultimately the CRA turned conscious that they’d 1,000 representatives on the account however by no means filed a tax return or did any tax filings,” Fastkey president and co-founder Sam Khajeei instructed Canadian Mortgage Traits in 2024. “These events both had their account standing blocked or authority to entry the CRA revoked.”
The CRA in the end ended its EFILE authorization program in July, changing it with a brand new “Symbolize a Consumer” portal for tax professionals.
“Now, as an alternative of the consumer logging in and approving a consultant, the approved consultant can acquire entry by offering one merchandise – line 15000 from their Discover of Evaluation — plus consumer authorization, and retrieve docs on their behalf,” Henderson explains.
Launched in April of 2024, Fastkey beforehand charged brokers a payment of $19.99 per utility, however quickly after started a 90-day pilot with Newton, which initially made the software obtainable to a choose group of brokers at no cost.
A 12 months and a half later, VerifyCRA is now obtainable to all brokers at no cost, with a brief restrict of fifty requests per day throughout the platform, with plans to make it obtainable for limitless use straight by the Velocity platform.
“Though we’re launching this as a micro-site to start with — which suggests it’s outdoors of our velocity platform — the lengthy term-goal is to embed it into the platform itself, so there could possibly be two entry factors to the system,” Henderson says. “It could possibly be that there’s a consumer who’s filling out the web utility, and it’ll simply ask the query, ‘would you like us to gather this info in your behalf?’ they click on ‘sure,’ after which we’ll ship you the authorization type and get it performed.”
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CRA revenue verification dominion lending centres EFILE Fastkey revenue verification Kate Henderson Sam Khajeei VerifyCRA
Final modified: November 27, 2025
