OptiVerify FAQ

You have questions and we have the answers

How long does it take to complete?
This should take you less than 5 minutes per financial institution to complete. So if you have to login to 3 separate banks, it may take a little longer.
I have a gifted down payment; what do I need to do?
If you have someone gifting you your down payment, the giftor will also need to use OptiVerify. Please let your broker know when the process is complete and we can connect it back to your file.
Is there a cost to use this service?
No, there is no cost to you as the client, or your broker, to use OptiVerify.
Why should I use this service?
CWB Optimum Mortgage is required to review your personal financial information as part of our mortgage application process. Using the OptiVerify service is the most efficient and effective method of providing us with the information we require. Using this service will result in us receiving more accurate information and will make your mortgage application process faster.
Where is my mortgage commitment number?
Your mortgage commitment number is a 5 or 6 digit number that can be located on the mortgage commitment document you received from CWB Optimum Mortgage. If you need any help verifying your mortgage commitment number, just let your broker know.
What information do you access?
By clicking “Allow" you give CWB Financial Group permission to access your financial information for the accounts you have connected to your online banking profile, along with your personal information associated with that profile. CWB Financial Group will use the obtained information to meet our requirements for down payment verification, income verification, and to confirm prior mortgage repayment history.
Why does my significant other also need to register when we both use the same bank?
Your personal financial information is exactly that – personal. In order to get a full view of the financial situation of all applicants, we require each applicant to provide their financial information via the OptiVerify service. As OptiVerify is tied to an individual’s online banking profile, we may require multiple mortgage applicants to use the service.
When I have completed this process do I need to do anything?
When you complete the OptiVerify process, you will be re-directed to our ‘Thank You’ page and that means we have all the information we require. Once you have completed the process, let your broker know so they are up-to-date on the progress of your mortgage application.
How do I know that my information is safe?
At CWB Optimum Mortgage, we take great care to provide our clients with a secure online environment and to safeguard all personal, business and financial information. To do this, we subscribe to industry best practices. The OptiVerify service is based on industry standard security protocols that are PCI-DSS compliant, uses physical infrastructure hosted and managed exclusively on a PCI 3.0 certified data center, and utilizes HTTPS 256-bit encryption for communications and AES-256 hardware encryption for storage.
What guarantee do I have that Optimum won't share my confidential banking information?
By using this service you are ensuring we can verify your financial information in order to process your mortgage application. This information is not shared in any way. If you’ve applied for a mortgage before, you would likely have sent in your bank statements for review via saving from your computer and emailing them in. Using OptiVerify is more secure than emailing, and more accurate. For further details, please review our privacy policy.
Will I start getting calls from telemarketers?
No, your information is not shared in any way outside of CWB Financial Group. We only use the information to verify your financial information as part of the mortgage application process.
Will you give this information to the CRA or any other government agency?
Your personal financial information will not be shared with any individual or organization outside of CWB Financial Group. For further details, please review our privacy policy.
Why do I need to print my financial information for my broker?
Some brokers are required to have a full and complete file for their mortgages, which includes financial information. This differs between provinces, and even brokerage to brokerage. Please reach out to your broker directly with any questions about those requirements. CWB Optimum Mortgage is not able to share your personal financial information with any individual or organization outside of CWB Financial Group. For further details, please review our privacy policy.
Which banks use this service?
The list is changing daily, as of today there are 16 Canadian financial institutions that you are able to access via the OptiVerify service.
What if my bank is not listed?
If you do not see your bank listed, let your broker know and they can advise you of next steps.
Do I have to use this service to get a mortgage from CWB Optimum Mortgage?
No, you do not have to use our OptiVerify service to obtain a mortgage from CWB Optimum Mortgage. We are required to review your personal financial information as part of our mortgage application process and we have designed OptiVerify to be quick, easy and secure to facilitate that transfer of information. However, it is not mandatory – if you are not able to utilize OptiVerify for any reason, let your mortgage broker know and they can provide other alternatives for you.
Does this mean you will approve my mortgage and give me a better rate?
No, an approval or rate is not guaranteed in any way by using this service. It is simply used to verify financial information in order to underwrite your mortgage.
Can I complete this process on my mobile device?
Yes, you absolutely can.