Some renewals are really refinances.
New debt, a new business, a renovation plan. MyFi prepares your maturing clients 150 days out, under your brand, so your agent sees what changed before the first call.
The lender's offer comes late. A refinance takes time.
of Canadian mortgages renew in 2025 or 2026.
Bank of Canada, July 2025 (opens in a new tab)average payment increase for five-year fixed borrowers renewing in 2025 or 2026.
Bank of Canada, July 2025 (opens in a new tab)A bank must send its renewal statement at least 21 days before the term ends.
Financial Consumer Protection Framework Regulations, s. 45(2) (opens in a new tab)- Day 150 MyFi invites the client Session opens under your brand
- Day 120 Rate holds open Time to compare and apply
- Day 30 Switch gets tight Documents, application, closing
- Day 21 Lender statement Pre-filled offer, ready to sign
- Day 0 Maturity Term ends
A refinance needs documents, an application and often 30 days or more. MyFi starts at day 150.
One brief, before the first call.
- What changed, and where each fact came from
- Goals in the client's own words
- The decisions that need your judgment
- Every option they explored, costed
- The questions they want you to answer
Sample brief. Fictional household, illustrative figures.
What is in your renewals?
Your numbers, your assumptions. Nothing you enter is stored or sent.
Your maturities this year are worth $299,578 in commission.
A refinance file pays 8 times a renewal.
- Value of a switch or refinance file
- $2,800
- Value of a same-lender renewal file
- $350
- Blended value per file you fund again
- $1,453
- Commission on maturities this year
- $299,578
- Commission on maturities you are not paid on
- $245,109
Two things that move the number
+$27,234
+$25,266
This shows the arithmetic of your book. It is not a forecast of what MyFi will do.
The licence stays with the broker.
MyFi maps the options and never recommends. Advice questions go to your agent. The suitability assessment, the disclosure of material risks and any recommendation stay with the broker.
MyFi
Prepares the client and the file
- Maps the options with calculated figures
- Adds advice questions to the brief for the broker
NeverRecommends a lender, product, term or option, or names a lender for a switch
The licensed broker
Runs the conversation and advises
- The suitability assessment
- The disclosure of material risks
- Any recommendation
Our fee is the same whether the client renews, switches or refinances.
Start with five files.
Pick five clients maturing in the next 90 to 180 days. Your agent answers the questions from what they know about each file, and we return a brief for each one. Judge it on your own clients before any of them sees MyFi.
No client contact, no cost and no integration. We sign a short data handling agreement with you first, and delete the file information when it ends.
Try it on five of your filesAre you an agent?
You can start a pilot with your brokerage's approval. Tell us where you work and we will include your brokerage in the conversation.
Questions
Does MyFi replace my agents?
No. MyFi prepares the client and the file. Your agent runs the conversation and makes every recommendation.
Is this mortgage advice?
No. The session maps options and trade-offs with calculated figures. It never recommends, and advice-seeking questions go to your agent.
Where do the rates come from?
A weekly snapshot of advertised market rates, clearly labelled as illustrative. They are not lender quotes.
Do agents need training?
A short walkthrough of the brief is enough. The session runs without agent involvement.
What does the client see?
Your brokerage's name, logo and colours, with a small "Prepared with MyFi" note.
Where is client data stored?
Client sessions are not live yet. MyFi is being built so that client data is stored in Canada and encrypted, and sessions will launch only when that is in place. See our data standards.