Product
May 12, 2026
FundMore launches freemium platform to bring bank-grade compliance to Canada's non-bank lenders as OSFI raises red flag
FundMore announces Fathom, a free underwriting, CRM, and compliance platform purpose-built for private lenders, MICs, and alternative mortgage originators. Public beta opens summer 2026.
OTTAWA, ONTARIO, CANADA — Days after Canada's banking regulator named non-bank financial institutions the second-highest threat to the country's financial system, FundMore, the AI-first loan origination platform behind some of Canada's most sophisticated lenders, announced the upcoming launch of a new freemium product, code named Fathom — a free underwriting, CRM, and compliance platform purpose-built for the private lenders, MICs, and alternative mortgage originators now under heightened regulatory scrutiny. Public beta opens summer 2026, and a waitlist is live today.
A $401B blind spot
In its 2026–2027 Annual Risk Outlook, released April 14, the Office of the Superintendent of Financial Institutions (OSFI) flagged non-bank financial institutions as a rising systemic risk. The numbers behind that warning are substantial: $401 billion in non-bank residential mortgage debt, up 19% since 2020; roughly $32 billion in private mortgages in Ontario alone; and 65,233 private mortgages tracked by Ontario's FSRA. Delinquency in the private channel runs at roughly 11 times the headline bank figures.
“OSFI just told the country that opacity in non-bank lending is a systemic risk, and they're right.”
Chris Grimes, CEO of FundMore
The timing compounds the pressure. More than half of all Canadian mortgages renew between January 2026 and the end of 2027 — a renewal wave arriving precisely as OSFI drafts a new Credit Risk Management Guideline to tighten how lenders manage credit risk, with industry consultation open through July 29, 2026. For non-bank lenders that have historically operated on spreadsheets, email, and cobbled-together point solutions, the compliance bar is about to rise considerably.
Bank-grade infrastructure, no upfront cost
FundMore Fathom brings the same underwriting, compliance, KYC, AML, and fraud detection infrastructure currently powering Canada's leading financial institutions to the non-bank lending tier, with no upfront cost to anyone lending privately. The platform includes AI-powered underwriting for file Q&A, risk assessment, scenario analysis, compliance checks, and pricing, along with KYC and identity verification through integrated partners.
Key dates — May 12, 2026: waitlist opens at fundmore.ai. Summer 2026: public beta opens to waitlist members. July 29, 2026: OSFI Credit Risk Management Guideline consultation closes.
About FundMore
FundMore is a cloud-native, AI-first loan origination platform serving Canada's leading mortgage lenders. Customers include EQ Bank, Meridian Credit Union, and Highclere, among other leading Canadian lending institutions. The platform has processed more than $60 billion in mortgage applications. FundMore is headquartered in Ottawa with a growing presence in the United States.
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