A new Canadian mortgage lender has entered the market with an acquisition and an artificial-intelligence platform aimed at brokers across the country.
Toronto-based Northguard Financial launched on October 20 as a national lender and servicer, unveiling an AI-enabled lending platform alongside its purchase of Wiseday, a Quebec-based lender. The financial terms of the acquisition were not disclosed. Northguard said it plans to roll out its services nationally through 2027.
The company is led by Katherine Gregory, founding chief executive officer of Paradigm and MERIX, who is backed by a team of industry veterans. Gregory told Canadian Mortgage Trends that after stepping back for a couple of years, she realized building companies was what made her happy, prompting the launch of Northguard.
Why Northguard Bought Wiseday
According to Northguard, the Wiseday acquisition brings more than two years of mortgage origination experience and established broker relationships in Quebec, along with a bilingual operating foundation. Gregory said Wiseday provides something that could not be built quickly: an experienced team and genuine broker relationships in the province. Wiseday’s existing team will lead Northguard’s origination efforts in Quebec and Atlantic Canada going forward.
An AI-Driven Lending Platform
Northguard’s platform applies artificial intelligence to underwriting, funding and servicing, including automated review of documents. The company said that in testing, initial underwriting responses have come back in as little as nine seconds. At launch, Northguard will focus on insured mortgages compliant with Canada’s B-20 guideline, before expanding into alternative, MIC-style and private lending products.
The company operates exclusively through mortgage brokers under what it calls a “Human to Human” approach, allowing clients to interact digitally or reach a person directly when needed. Chief operating officer Frank Tucci said brokers do not need another portal, framing the platform as a response to that concern.
Rollout Timeline and Industry Context
Northguard’s national rollout is set to begin with Quebec and Eastern Canada in the first quarter of 2027, followed by Western Canada in the second quarter of that year. The company is still preparing for its full launch, and its claims about processing speed are based on internal testing rather than completed approvals or lending at scale.
The launch comes amid a broader push to digitize mortgage origination in Canada. RBC acquired qualification-technology firm Pinch Financial in March, Montreal-based Nesto raised $300 million in June to expand its AI-driven lending operations, and Dominion Lending Centres bought broker-infrastructure firm Filogix for $58.5 million in August. Northguard’s entry adds to that trend, though its ultimate impact will depend on how it executes its rollout plans.
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