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Origin Mortgage’s Direct Bid Process

The mortgage process can be intimidating and mysterious for a first-time home buyer. There are different factors that can influence the mortgage approval process and the interest rate offer, which isn’t always clear to the borrower. One Canadian brokerage, Origin Mortgages has taken the mortgage application process and developed a new method for mortgage shoppers to compare rates.

The Direct Bid Process

Origin Mortgage creates a platform for lenders to compete for your mortgage through a bidding process that puts you in the driver seat. Lenders are invited to become part of a transparent bidding process. Here’s how it works:

  • First you complete and submit a mortgage application online
  • That same day, an email will be sent to you containing bids from three separate lenders
  • YOU consider the options

A mortgage representative will always be ready to help you along the way if you need any. If a bid looks attractive, you may choose to accept it. The entire process could finish in as little as three days, but typically takes eight business days to reach completion.

Here is a sample screenshot:


You will not see the lenders until you select an option. Once you decide on the rate and provider, Origin will provide you with a list that that particular lender requires for approval. You do not have to commit to a bid once an application has been submitted. Commitment occurs after you have signed official mortgage documents.


The advantage of this process is the amount of control it puts in your hands. In this system, the lenders compete for your business and you can compare their offers right next to each other. Another great benefit is the speed at which you can expect a response. The entire process could finish as quickly as three days.

In addition to the interest rate information, the Direct Bidding process allows a side-by-side comparison of the mortgage features included such as the prepayment options and early payout penalties, which can be just as important as the mortgage rate.

To learn more about this process and how it can help you, speak to Geoff Willis, a mortgage broker with Origin. You may also browse and compare Origin mortgage rates that offer some of the most competitive BC mortgage rates.

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